The Express.
London, England, 1855-01-02 00:00:00

THE FREIGHT MARKET.

Relative to the freight market, Meows. Offor and
Gunman make the annexed weekly report :
The freight market exhibits a striking contrast to its tone
at the commencement of last year, and the prospects for the
new year are as disadrantageoss to the shipping interest as
the mistrust in the rates of freight. In January, 1854,
Autralian freights were firm at 41. 10s. to 61. per ton, and
the market reports were so encouraging that export. in-
creased rapidly, and the demand for tonnage was enormous.
To-day we hear of an engagement of freight at 35e. per
ton, and the reports from the colony are so discouraging
that nothing short of a total cessation of shipmeaTega
lengthened period is likely to relieve the overstocked mar-
kets and give animation to the trade.

The Emigration Commiedonere have chartered an im-
mense fleet of ships for the colony during the past year, sad
this service hu been of great value to the shipping interest.
Owing to the pusher class of vessels required for this ser-
vice, the rates have been much better maintained than
might have been expected from the general fall in freights.
The rates paid for the vessels accepted on Thursday last
were 171. 78., 171. 12s. 6d., and 171. 178. per head.

The movement in Australian shipping last week was
again unimportant, comprising 6 vessels entered outwards
and 4 vessels cleared, viz.:
Mitered out. Cleared.
Shim Tamara Salim Tonnage.
1 761 .... 0
Hobart Town
Launceston
Port Phillip
Sydney

5 2,391 4 2,845
Outward freights in nearly every direction are much de-
pressed, and recent advice's from the But Indies report an
excessive supply of tonnage, as tending to the reduction of
freights.

The question naturally arises u to what rates will return
to the shipowner a remunerative profit on his outlay : the
downward coarse of freights must stop somewhere, or the
business of the shipping interest must be carried on at a loss.
Wages, provision:, insurance, &c., are higher than they
have been fora long period; and although shipowners have
generally looked for a larger interest than capitalists in
other trades, it is a question if lower freights than are now
current would yield the actual working expenses of the ship.
The gigantic strides of our 00011110701 during a forty years'
peers, and in late years the operations of the free trade
policy, occasioned a demand for shipping, which has been
met b 7 an immense increase to our mercantile navy. The
blighting effects of war begin to be felt on our commerce,
and the shipping hitemt is the first to stiffer.
There is very little chartering business doing, and freights
in most trades are nominal. The following are the quota-
tions for coal cargoes from the Tyne, and proportionate rates
may be obtained at the other coal ports. The rates are at
per keel of 21 1,.5 tons :-Aden, 421.; Alexandria, 30/. ;
Algiers 371 r.; Athens, 381. ; Bombay, 301.; Buenos Ayres,
401. ; Boston, 321.; Bayonne, 22fr. ; Bilboa, 171. ; Bor-
deaux, 221. ; Barcelona, 341. ; Hestia, 341 ; Beicos
Bey, 4,51. ; Calcutta, 271. ; Ceylon, 22/. ; Callao,
311. ; Coquimbo, 331 ; Cape of Good Hope, 32/. ;
Charleston, 211.; Cadiz, 151. • Caen, 161. 104.; Calais,
111.; Charente, 191.; Cherbourg, 131. 10s.; Cartha-
gene, 181. ; Cute, 32fr.• Constantinople, 451. ; Dieppe,
121. 10s. ; Dunkirk, 111.; Pump, 121. 10s. ; Genoa,
39!.; Gibraltar, 231.; eere, 851 r. per ton • Hong Kong,
301.; Hangnail, 121.; Harfleur, 131.; Havre, 121. 10s.;
Hoefieur, 131. 101. ; Jamaica, 21e. per ton ; Lisbon, 17/. ;
Madras, 26!. ; Martinique, 20e. per ton ; Monte Video, 401.;
Malaga 211.; Marseilles, 321. 101. ; Malta, 331.; Mateyo,
341. ; Messina, 361. ; Motrll, 251. ; New York, 321. ; Naples,
39! ; Nice, 331.: Oran, 301. ; Oporto, 17/. 10s. ; Penang,
30/ ; Panama, 411. • Philadelphia, 321. • Palma, 341.; Poi t
Mahon, 331. • Rio janeiro, 321. ; Rio &rude, 401. ; Roche-
fort, 191.; Rouen, 171. ; Singapore, 241 ; Sues, 701. ; Syd-
ney,
571.; San Francisco, 751.; St. Thomas, 21e. per ton;
Senegal, 40fr. ; Smyrna, 381. ; Store, 301. ; Byes, 381. ;
Torre del Mar, 241. • Toulon, 321 ; Trieste, 331; Valencia,
20!.; Venice, 411 ;'Valparaiso, 321.