JAPAN'S GREATEST SHIPPING DEAL

Levin Daily Chronicle, 20 October 1917, Page 1

JAPAN'S GREATEST SHIPPING DEAL

One of the largest shipping transactions in the annals of shipping circles ever closed 1 at a single deal (says the Japan Times) was made in Osaka recently between the mining magnate, Mr F. Kuhara and the shipping narigin, Mr K. KatSuda. The Kuhara Company ordered from the Osaka Iron Works seven vessels to be delivered some time next year, aggregating 60,000 tons. The shipping-circles ■ have looked forward with delight, for the addition of the fleet will go to ease the congestion of trade to a large extent. Recently, however, the Katsuda Steamship Company started overtures to purchase a few of the boats. 1 - The Kuhara people demanded 750 yen per - ton- for separate sales, but if the Katsuda concern would undertake to purchase the whole number of ships now in the course of construction, 700 yen per ton was asked. With this unit the total cost of 600,000 tons would come up to 42,000,000 yen. It was believed that Mr Katsuda would give up his idea, but at one nod he 'decided to'take'all, handing over a cheque of 8,400,000 yen, 20 per cent, of the entire payment, as bond. Thus, the seven vessels were turned over to the Katsuda Steamship Company.

The first boat of the list to be completed will be launched in June next, a boat of 2,000 tons. In July, August and October four 10,000ton vessels will be completed, in November a 5,000-ton boat, and in December another 10,000-ton boat, fulfilling the whole contract. ..With this sale the Japan Steamship Company, capitalised by the Kuhara firm, made a profit of 18,000,000 yen. The above cannot be confirmed as yet. With the actual market price of ship transactions above the 800 yen mark, it is doubted whether the Kiihara firm has conceded to dispose of its goods at this price; also in the face of the commandeering of the ships on the Pacific by President Wilson for the transportation of supplies on the Atlantic, and 'opening the coast trade of the United States to foreign vessels.