Inconsistency was the ruling feature of 1925 in regard to the carriage of coal. Shipments from Chinwangtao continued almost uninterrupted throughout the year, but in greatly varying quantities, owing to the fluctuation in the amount of rolling stock available for transportation of the coal from mines to port. As usual, Japanese and Norwegian chartered tonnage practically controlled the coal freight business, and most of the fixtures Chinwangtao-Canton were for Japanese vessels, though we understand a few Chinese chartered ships made a small number of trips. Rates were in most instances a little lower than in 1924, though even with Destnovers 1x Dock at Tur New reduced remuneration the coal-carrying business remained almost the only profitable shipping business in the Far East.
The military and political situation in China, and the uncertainty of supplies being available when wanted, had an effect on the Japan and Keelung coal market; and practically all coal cargoes from Japan and Keelung to all parts of China were monopolised by Japanese vessels. Since the Canton boycott on Hongkong, merchants have been importing coal cargoes into Canton direct from Japan and Keelung. The increased demand for bunker coal for the numerous steamers in the direct shipment trades resulted in considerable business being transacted in Canton at $22, $20, $17 per ton, Good Japanese coal could be obtained at Hongkong throughout the whole year at between $13.60-$15 per ton on f.o.b, ti.b. terms.
Text read from the printed page and cleaned; old type leaves the occasional error.