PREMIER PORT

Dominion, Volume 27, Issue 151, 23 March 1934, Page 13

PREMIER PORT

Trade of Wellington BIG SHIPPING TONNAGE Harbour Board’s Sound Finance More than 33 per cent of the total imports and 23 per cent, of tne total exports of the Dominion passed through the Tort of Wellington last year. The tonnage of shipping arrivals increased by -i.U per eent. compared with the previous > e ‘ ,r > and the average net tonnage of the ships showed a relative increase. These and many other interesting facts concerning the shipping and trade of the port of Wellington are contained in the annual report of the chief executive officer and secretary, Mr. A. G. Barnett, presented at the meeting of the Harbour Board last night. The total net register tonnage of trading vessels entering the port during the year ended September 30, 103 b (excluding 76,017 tons representing warships, lighters, fishing vessels, private yachts, etc.) amounted to 3,6a-.,7b4 tons, an increase of 159,288 tons, or 4.6 per cent. For comparison with those ports combining the arrivals and departures, the total net register tonnage of trading vessels that arrived and departed from and to overseas and coastal ports during the year was 7,087,484 tons'. Trade Well Maintained. The total trade of the port remained about the same as for the previous year, the figures being 1,468,192 tons, compared with 1,485,998 tons. Exports continue to increase, but imports show a further, though small, decline. Imports from British and foreign ports showed a slight increase, but imports from coastal and Australian ports decreased by 40,483 tons. Transhipments from British and foreign ports increased by 131 tons, while transhipments from Australian ports and coastal ports decreased by 2488 tons. Exports of primary products increased to all ports. The principal!increases were in butter, cheese and wool, but frozen meat showed a decrease. Exports generally increased by 4.9 per cent. The combined total of imports from and exports to various countries amounted to 1,468,192 tons, as compared with 1,488,998 tons last year, a decrease ot 1.4 per cent. Inward cargo of all classes was 708,226 tons, a decrease of 35,338 tons, or 4.8 per cent.; British and foreign imports of all classes amounted to 316,343 tons, an increase of 5145 tons, or 1.7 per cent.; and Australian imports (61,210 tons) decreased by 14,537 tons, or 19.2 per cent. Transhipments to British and foreign ports (46,092 tons) increased by 0.3 per cent.; Australian transhipments (4725 tons) were down 27.6 per cent., and coastal transhipments decreased by 0.5 per cent., or by 685 tons. Outward cargo of all classes (408,734 tons) increased by 19,246 tons, or 4.9 per cent., as against 389,488 tons last year. Exports to British and foreign po«ts Increased by 3745 tons, or 2.2 per cent., to 173,337 tons. Australian exports (45,743 tons) increased by 23.6 per cent.; and coastal exports increased from 182,876 tons to 189,654 tons, or by 3.7 per cent. Tonnage of Cargo Handled. The importations of timber showed an increase, the figures being 3,596,533 super feet, an increase of 616,852 super feet, or 20.7 per cent. Timber exports were about the same as last year. Coal landed or transhipped (209,001 tons) decreased by 34,615 tons or 14.2 per cent.; coal passing over wharves and paying wharfage amounted to 120,487 tons, a decrease of 11,297 tons or 8.6 per cent.; Government coal exempt from wharfage, decreased by 30.2 per cent, to 51,775 tons. Coal transhipped overside at wharves (36,392 tons) decreased by 2.9 per cent. The tonnage of oils in bulk pumped ashore showed an increase of 7929 tons or 4.5 per cent, to 182,492 tons. Bulk oil outwards was 109,359 tons, an increase of 6671 tons. Bulk oils transhipped, mainly in fuel for bunkers, also increased from 21,676 tons to 22,540 tons, or by 4 per cent. There was an increase in the quantities of wool and skins shipped during the year, the total being 221,604 bales, of which 95,686 bales were pressed; wool transhipped increased by 20,471 bales, or by 40.9 per cent.; and wool from shore and rail increased by 13,941 bales, or by 10.2 per cent. Hemp and tow shipments increased from 10,714 bales to 17,763 bales, or by 65.8 per cent., of which 638 bales were pressed. The total number of bales of wool, skins, hemp, and tow, upon which the board received storage during the year ended September 30,1933, amounted to 109,438 bales, or 45 per cent, of the total bales shipped. Butter exports increased from 16,397 tons to 20,734 tons, or by 26.4 per cent.; cheese increased from 41,406 tons to 45,391 tons, or by 9.6 per cent.; and frozen meat showed a decrease of 5662 tons, or 11.1 per cent. The total value of all overseas exports from the Port of- Wellington for the year was, from Customs returns, £9,191,379, compared with £9,502,941 for the previous year, a decrease of £311,562. The total value of all imports, including specie, was £7,129,267, compared with £7,659,872 for the previous year, a decrease of £530.605. The total value of imports into New Zealand during the year ended September 30, 1933, was £21,518,492, and of exports £39,766,889, so that over 33 per cent, of the total imports and 23 per cent, of the total exports passed through the Port of Wellington. Soundly Financed. The net surplus of the Wellington Harbour Board on working for the year ended September 30, 1933, was £6424, compared with £5574 for the previous year. The statement of accounts adopted at last night’s meeting of the board showed that the receipts for the year were £336,539/17/8, a decrease of £6613/8/-, and the expenditure £330,115/15/9, a decrease of £7463/8/11. The principal decreases in revenue were in inward wharfage and cool storage. Apart from the ordinary savings in expenditure, interest charges decreased by £2582 15/-. The total assets of the board arc now £2,999.559, and the liabilities £1,258,418, the balance of assets over liabilities being £1,741,140, an increase of £53,408. This Is made up principally by increases in sinking funds amounting to £34,811, in special funds amounting to £12.173, and the balance of the year’s working of £6424.

The public debt remains the same, namely £1,250,000 against which there are now sinking funds amounting to

£608,090, leaving a net indebtedness of £641,910. A Note of Warning. The chairman, Mr. C. M. Turrell, in moving the adoption of the accounts, said members would notice that there ' had been little improvement in the trade, of the port. The import cargo declined this year by 4.8 per cent, on the previous year, which was the lowest import year experienced for some years. “Although there has been a general Increase in the exports of 4.9 per cent., this has gone a very small way, from a revenue point of view, in meeting the drop in the import receipts, and a substantial revival in the amount of goods imported into Wellington must take place before we can call the outlook a satisfactory one,” he said. “From a Harbour Board point of view, ‘quantity’ and not ‘value’ is the gauge by which it measures its prosperity, but it is none the less gratifying to know that of the total values of imports and exports of the whole Dominion, approximately 33 per cent, of our imports and 23 per cent, of our exports passed through the port of Wellington. "The financial results for the year show a credit balance of £6424, a little more than we were able to show on last year’s working. I think it will be accepted by members that this margin is Insufficient when the extent of the board’s undertaking is considered. "The financial position of tile board, although satisfactory, has necessitated the greatest eare being taken, particularly in regard to items of expenditure, and I feel I must sound a note of warning. There may be sighs in other directions of trade improvement, but I cannot see that any spbstantial improvement has or can take place until we reagin the import trade of a few years ago. “The system and staff of the board has been built up largely on its import trade. Great difficulty has been found in maintaining its service and its permanent employees on what has for the last two years been a declining volume of cargo handled. Conditions have not improved since the closing of the financial year, and there seems to be no prospect of this year being a better one from a trade point of view.” Board’s Indebtedness. The net Indebtedness of the board now stood at’ £641,910, Mr. Turrell said. The board had two loans, one for £850,000, maturing in 1946, and the other for £400,000, maturing in 1940. The question of the conversion of these loans had been considered by the board, but so far no decision had been come to. This might be a question for the board to consider in the future. There had been no major works of any importance carried out during the. past year, but the staff had been fully employed In maintenance and repair work. The decision of the board to place a lighted beacon on Steeple Itock would, he felt sure, be appreciated by the master mariners using the port. The work of constructing the beacon, and also extensive repairs which bad been found necessary to be carried out at the boat harbour, were the principal works in hand, and it was proposed very soon to commence the work of joining up the dolphins at the Point Howard oil berth and extending the berth Itself, for the convenience of the oil tankers using It. Mr. Turrell thanked the members of the board for their loyal support during the past year, and also the staff for the manner in which it had carried out its duties.