The Sun.
London, England, 1860-05-02 00:00:00

THE LONDON FREIGHT MARKET.

Messrs. Seymour, Peacock, and Co. state, we have
again pleasure in reporting that the general im•
provement in the freight market which has been
rnanfest since the commencement of the year has
continued during the past month. As on former
occasions of great depression in the shippinr, inte-
rest the relief whietla is being experienced arises
chiefly from an unusual course of events—the quar-
rel with China having on the present occasion
caused tlle improvement in the rate of freight. The
extensive operations of the English and French
Governmetts have created an important demand
for tonnage for transport of troops, horses, stores,
&c., from India, this country, and France, to the
Chinese waters ; and the result in India bas been to
raise freights from the lowest point to the highest
known for some years. We still think the chances
of a maintenance of the high rates during the next
shipping season very problematical ; the expedition
to China may result in a mere demonstration, the
demands of the allied Powers being yielded with-
out actual hostilities. On the other hand, if force
be resorted to, the war may be speedily terminated.
and under any circumstances the accumulation. of
tonnage in the eastern seas will be very large be-
fore the termination of the approaching •rainy sea-
son. We have to-day loading in London for India,
China, and South African ports upwards of 100 sail
of shipping; at Liverpool there are about 75 vessels '
entered, and many others already chartered but not
arrived, besides a large aggregate of tonnage load-
ing at less important outports. The Indian railway
companies have arranged for further large ship-
ments, the coal contracts running and advertised,
and the troops to the number of about 4,000 to be
despatched during next month, will combine to keep
the eastern ports largely supplied with tonnage.
Under these circumstances we repeat what we have
frequently urged in our recent rep(rts, that there
is no warrant for the reduction in outward freights
which has been already submitted to. The pres-
sure on the money market threatened, at the be-
ginning of last month, to interrupt business, but
there is now a marked improvement, and a lower
bank rate of discount is expected this week.

AUSTRALIA AND NEW ZEALAND.—We have no
improvement to report in the Australian trade, ex-
ports having declined considerably and rates of
freight been low throughout the month.
INDIA AND CHINA,• &c.—Outward freights have
declined for coals, but are without alteration for
iron, beer, and general cargoes.
BRAZILS, WEST INDIES, &e.—Outward freights
have improved, and there is still an excellent de-
mand for tonnage.
MEDITERRANEAN, &c.—Outward freights have
advanced and continue very firm, but homeward
business is inanimate, th© facilities afforded by the
telegraphic communication with the Danube, &c.,
having interrupted speculative chartering business
to a considerable extent.

PACIFIC AND WEST COAST OF SOUTH AMERICA.

—We have had a fair business during the past
month, outward freights being rather weaker, but
homeward rates well maintained.
WEST COAST OF AFRICA.—The most recent ad-
vices are rather more favourable as to the prospects
of oil shipments, but the inquiry for tonnage on
this side is quite unimportant.
THE TIMBER TRADE.—The general features of
this business are without alteration, the demand for
tonnage being good and rates well maintained,