Evening Bulletin in Honolulu, Hawaii

Trade shifts show Japanese freight share rising while foreign tonnage dominates

An analysis covering five year periods ends in 1904 notes Japanese freight tonnage rising from 8 to 18.6 percent while foreign vessels carried 81.4 percent. Freight earnings trends show Japanese share climbing from 12 to 18 percent, with foreign 88 percent, highlighting Japan’s growing trade vs. domestic fleet. Directors of a major Japanese steamship firm plan to enter European trade, signaling rising mercantile activity.