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SS&Y Capesize Indices

SS&Y Pacific Capesize Index Plummets 243 Points Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 243 points to 5,259 in the week ending May 8. "The Pacific Capesize index fell after the holidays in the Far East, with early vessels becoming the victims of a lack of inquiry," SS&Y said. "A $1 fall on the Queensland/Rotterdam route (120/150,000 ton cargo) was certainly not going to help the index, which witnessed its first serious decline since January," SS&Y added. SS&Y Atlantic Capesize Index Drops 131 Points Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index fell 131 points to 4,786 in the week ending May 8. "The Atlantic Capesize index dived on the back of weaker demand, which softened rates for early tonnage. However, iron ore demand in the Atlantic remained steady and limited the fall in rates to more moderate levels," SS&Y said. "There seems no real major cause for concern as the weakening was in line with the usual post-holiday malaise, and demand should begin to pick up in the near future," SS&Y said.

SS&Y Indicies Rise

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 102 points in the week ending Monday to 5,828. "Tonnage in the Pacific remained in tight supply," SS&Y said. "The index continues to march towards 6,000 and if the trend line of the past five months is maintained we will cross this mark by mid-November," SS&Y added. Its Atlantic Capesize Index rose 30 points in the week ending Monday to 5,926. "The 30-point gain shows that the market remains very firm," SS&Y said.

This Day in Coast Guard History – March 18

1909-  Stations Holly Beach, and Hereford Inlet, New Jersey: the schooner C.B. parted its chain while weighing anchor.  She set a distress signal which was discovered by the lookouts at both stations.  The surfboats proceeded to the scene and surfmen swept for the chain and assisted in securing it on board. 1943- USS Ingham, CG, rescued all hands from the torpedoed SS Matthew Luckenbach. 1967-The 378-foot high endurance cutter Hamilton, first in her class, was commissioned

SS&Y's Atlantic Capesize Index Rises 186 Points

Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 186 points to 3,868 in the week ending Oct. 4. "The upward curve of the index remained steep this week due to the steady flow of new Atlantic inquiry," SS&Y reported. "Owners are beginning to feel positive, with prompt tonnage being fixed and cargo pressure adding to the bullishness," SS&Y added.

This Day in Coast Guard History – August 25

1945-CGC Magnolia was rammed amidships on 25 August 1945 by the cargo ship SS Marguerite Lehand off Mobile Bay.  She sank in two minutes and one of her crew was killed.  The other 49 were rescued.  Those survivors cross-decked to the new tender CGC Salvia (WAGL-400) which then took Magnolia's place. 1950-SS Benevolence collided with SS Mary Luckenbach.  CGC Gresham and other vessels responded and rescued 407 persons.

Crowley Shipmaster Receives 'Sandy' Relief Award

Spirit Awards: Photo credit Crowley

The master of Crowley’s 'S.S. Wright, Capt Fred Walley, receives the 'Spirit Award' in recognition of Hurricane Sandy relief efforts
. Capt Walley of the Ready Reserve Force (RRF) ship, was presented with the Spirit Award at the Nationals Park during a televised Major League Baseball game between the Washington Nationals and the Philadelphia Phillies on National Maritime Day, May 25. National Maritime Day is an annual observance that recognizes the U.S. maritime industry.

Shipwreck Causes Oil Spill

The California Office of Spill Prevention and Response (OSPR) stated that the U.S. Coast Guard and the OSPR have confirmed that an intermittent oil spill in San Mateo vicinity has been traced to the SS JACOB LUCKENBACH. The vessel sank on July 14, 1953 approximately seven miles southwest of the San Francisco Lightship after colliding with the SS HAWAIIAN PILOT. The Coast Guard's original Report of Investigation reveals that the collision was caused, in part, by poor use of radar.

This Day in Naval History - Aug. 17

From the Navy News Service 1812 - Frigate President captures British schooner L'Adeline in North Atlantic. 1942 - Submarines USS Nautilus (SS 168) and USS Argonaut (SS 166) land 222 Marines on Makin Island, first amphibious attack made from submarines. 1959 - Adm. Arleigh Burke re-appointed as Chief of Naval Operations (CNO) for third two-year term, serving longest term as CNO. 1962 - Navy's first hydrofoil patrol craft, USS High Point (PCH 1) launched at Seattle, Wash.

Odyssey Recovers 1.8 Million Ounces of Silver From Shipwreck

Gairsoppa - Silver

The latest recovery from SS Gairsoppa reportedly set the world record for deepest, largest precious metal recovery. Odyssey Marine Exploration said it has recovered more than 61 tons of silver bullion this month from a depth of nearly three miles. This recovery of bullion from the SS Gairsoppa, a 412-foot steel-hulled British cargo ship that sank in February 1941, consists of 1,574 silver ingots weighing about 1,100 ounces each or almost 1

SS&Y Atlantic Capesize Index Climbs 226 Points

Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 226 points to 4,367 in the week ending Nov. 22. "Gains of between five and 40 cents on many routes lifted the index this week, and Richards Bay remains active with several stems still uncovered for December," SS&Y reported.

Epic Gas Secured Credit Facility for 7 Newbuilds

Pic: Epic Gas Ltd.

 Epic Gas Ltd has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction.   The facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with Coordinator

P&I Clubs Welcome Changes on Container Weighing

UK P&I Club, a shipping protection and indemnity mutual insurers, and TT Club, an  international transport, freight and logistics insurance provider, have welcomed the amendment to the Safety of Life at Sea Convention (SOLAS) from the International Maritime Organization (IMO) on the

AT&T Network Connects Maersk’s Reefer Containers

Photo: Maersk

A.P. Moller-Maersk Group has entered an agreement with AT&T to use its Internet of Things (IoT) technology to connect its refrigerated containers. In what is reported to be one of the largest industrial IoT deployments of its kind, Maersk is working with AT&T to track and monitor the

Global Maritime take Center Stage @ Danish Forum

Photo from Danish Maritime Forum 2014.jpg

The second Annual Danish Maritime Forum, scheduled for October 7-8, 2015, in Copenhagen, brings together a wealth of global maritime leaders to address present and long-term challenges for industry.   Discussions at this year’s Danish Maritime Forum are influenced by volatility in

Angeles Box Throughput up 3.8%

Out bound containers at Port of  Los Angeles

  August 2015 containerized cargo volumes at the Port of Los Angeles increased 3.8 percent compared to the same period last year. The Port handled a total of 786,677 Twenty-Foot Equivalent Units (TEUs) in August 2015. It was the strongest August performance since 2006, when 790

Caterpillar Again Named to Dow Jones Sustainability Indices

Doug Oberhelman, Caterpillar Chairman and CEO

  Caterpillar Inc. has been named to the 2015 Dow Jones Sustainability Indices (DJSI), recognizing Caterpillar as a sustainability leader in the Industrial Engineering sector. This marks the 16th time Caterpillar has been included in the DJSI list.

Economic Importance of River Thames

Photo: Totally Thames

 The vital role that the River Thames plays in the economy, the movement of freight and the transport of passengers – and also in the wellbeing of the capital’s residents – has been made clear in two new reports launched by the Port of London Authority (PLA) this week during

US Imports Climb Ahead of Holiday Season

Photo: Port of Los Angeles

Retailers eying the approaching holiday season is expected to spur a 1.2 percent increase in import cargo volume at the United States’ major retail container ports month over the same time last year as season, according to the monthly Global Port Tracker report released today by the National

Silverstream Technologies Names Potts as Head of Supply Chain

Stephen Potts

  Silverstream Technologies, pioneers of air lubrication technology for the shipping industry, today announced the appointment of Stephen Potts as its new Head of Supply Chain.  The development is based on the company’s strategy to further expand its infrastructure on the back of

RORO Ops by NYK for Ford Plants in India

NYK to Provide Complete Outbound Logistics of Finished Vehicles for both Ford Plants in India

  In 2011, NYK Auto Logistics (India) Pvt. Ltd.(NALI)* was awarded a contract by Ford India for RORO terminal services of finished cars at Chennai and Ennore Port. Based on the service quality, in 2015, NALI and Ford India extended the scope of services to cover Chennai plant stockyard

Nagtegaal is Head of Containers, Rotterdam Port

Hans Nagtegaal

  Hans Nagtegaal (49) has been appointed the new Head of Containers at the Port of Rotterdam Authority. He is a highly experienced manager from the world of shipping and logistics, who enjoyed a successful career at P&O NedLloyd (in China, among other places)

Oakland Terminal Operators Propose Off-peak Hours

Photo: Port of Oakland

Marine container terminal operators at the Port of Oakland are developing a program to operate their terminal gates on Saturdays to reduce weekday congestion at the port. The new program, called OakPass, is expected to begin in the fourth quarter of this year, pending review by the U.S

Historic Steamship Towed to Buffalo for Restoration

Photo: Great Lakes Towing Company

A 113-year-old “Boblo Boat” SS Columbia is being towed from Toledo, Ohio to Buffalo, N.Y., where the historic vessel will be docked for the next year for restoration.   A towing contract was awarded to The Great Lakes Towing Company from nonprofit organization The SS Columbia

Liner Reliability Slips for First Time in 6 Months

Source: Drewry Carrier Performance Insight (

Breaking a run of six consecutive months of improvement, container service reliability across the three main East-West trades declined in July, falling by 4.0 percentage points from June to 73.3%, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry

Jebel Ali Port Become Distribution Hub for Dow Chemical

Mohammed Al Muallem, Senior Vice President and Managing Director of DP World, UAE Region, and Moosa Al-Moosa, President of Dow UAE during the signing ceremony in Jebel Ali, attended by senior officials from both organizations. (Photo: DP World)

Marine terminal operator DP World, UAE Region, has reached an agreement with an affiliate of The Dow Chemical Company based in Jebel Ali to support the distribution of Dow‘s products. The contract was signed recently by Mohammed Al Muallem

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