JAPAN SELLING SHIPS

Wanganui Herald, Volume LI, Issue 15196, 17 April 1917, Page 4

JAPAN SELLING SHIPS

-i. Washington message, dated March 3, states that Japan, in 1916, for the first time in history, appeared in the market as a seller of ships, though it has been a large buyer for many years, according to a dispatch from Consul Cicuoral Sydmore, at Yokohama. In the last year many vessels have been sold to foreigners at large profits, while some of the foreign vessels also have been bought. In the first two years of the present war Japan began buying ships and sold very few. The, tonnage sold in 1913 was only 1851; in 1.914, none; and in 1915 it was 6245. In 1916, however, Japan sold 74.000 tons. In 1913 Japan bought 204,060 tons; in 1914, 96,000 tons; and last year but 34,000 tons. Under Government subsidies, the Nippon Prison Kaisba has decided to start its line by way of Cape Town to South America, which means sharp rivalry with other lines for the trade of Argentina and Brazil. In connection with this South American line, a contract has been made with various immigration companies to carry Japanese immigrants to South Africa and to South America beginning the coming year, and at a minimum of 20.000 a year.