JAPANESE SHIPPING DEVELOPMENTS

Hokitika Guardian, 6 November 1920, Page 1

JAPANESE SHIPPING DEVELOPMENTS

■ 9 v . _l_ ( ; ; IS A RATE WAR POSSIBLE? :•?.)' | , . :<• SYDNEY, Oct. 26. > Shipping, developments in Japan are being watched with a good deal of interest; by many people in Australia. It >is believed that’ events thero arc already- casting their shadows into tiro ■Southern ; Pacific. < These develbpmerits may interest New Zealand equally with Australia! 1 ' As everyone knows; Japanese"shipping companies, having enjoyed during the war period-prosperity without precedent in shipping History, in the past year fell upon evil times. There has been a feverish building of ships ever siriee the war ended and so many have been launched that the shipping tonnage of the.'world to-day is actually more than it was in 1914. Tho various Japanese companies, which had greatly increased their fleets, were suddenly affected by this condition 1 . In addition, there’ was’ a trade slump in Japan, and not 1 only ’ was there less carrying'! pel* ship to bo done iri the world ,bnt the Japanese ’domestic carrj’ing trade had actually decreased. The Japanese harbours were full of idle ships. ■■' • - y In the meantime,' aLthough, the Japanese steamers were idle, freights between Australia and Europe and America Have remained at a level set when tlio shipping companies wore -enjoying war dividends. The Shipping Ring lias held a monopoly. It was not to be supposed that those Japahese steamers would'be allowed to 1 lie idle, and there have been rumours of something pending. Now ooihes the news'that the Nippon Yu sen Kaislia, tho biggest Jap, shipping ; company, is' absorbing most of tlie other Jap. concerns; and that a big Japanese Shipping combination may tackle tho British ring arid fight for freights. It was a development certain to occur, sooner or later, but. most people thought the attack would corns from the vastly swollen mercantile marine of America. . A freight war between British, American, and ,Japanese companies may have all sorts of. side-issues and. complications not to be foreseen now, butit looks at present as if these Dominions have much to gain and very little to loso from such a development. • .Shipping men in Sydney believe,.that tlie Japanese amalgamation is full of menace to the industry, and they are watching events with a parent uneasiness.

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