Word: yusen
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...resort to short-term loans from commercial banks (with interest as high as 11%) and government loans. Furthermore, shipping rates, which were boosted sky-high in 1950-51 by the Korean war, have dropped down again, and shippers expect a further slide. Warned Shimpo Asao, president of Nippon Yusen Kaisha, one of Japan's biggest shipping companies: "The future is very dark. Until world trade begins expanding there is not much hope for further recovery . . . more Japanese ships will make their way into world ports, but you can't operate in the red forever...
...Converted Nippon Yusen Kaisha liners...
...canned salmon heated on the exhaust manifold (food cost: 25? a day), pressed his trousers by using the running board and a towel for the ironing board; alto gether saved $375. Then he worked his way across the U.S. to his native North west, stopped at the Nippon Yusen Kaisha office in Seattle and paid $195 for a round-trip ticket to Yokohama, tourist class...
Also out for business, and willing to cut first-class rates to get it, were three Pacific steamship lines, American President, Canadian Pacific and Nippon Yusen Kaisha. Their bid: a round trip from San Francisco to the Orient during April and May for the unprecedented price of a one-way ticket -i.e., $350 to Yokohama...
...days later it was briefly announced from Los Angeles that fares on Dollar, American Mail, Canadian Pacific and Nippon Yusen Kaisha lines had been upped approximately 7%. Another 3% will be added later. Lowest Dollar Line round-the-world tours will now cost $915 instead of $888; first-class minimum San Francisco-to-Manila $460 instead of $430. With a record season since 1929 just completed, Atlantic fares are also due to move upward...