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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.


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 – 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


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.


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.


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


This Day In Naval History: May 23

Members from the guided-missile cruiser USS Lake Champlain (CG 57) tow a disabled skiff carrying 52 Somali migrants. (U.S. Navy photo by Daniel Barker)

1850 - USS Advance and USS Rescue sail from New York in a failed attempt to rescue Sir John Franklins Expedition, lost in the Arctic since 1847. Caught in the ice and after tremendous hardship, USS Advance returns on Aug. 20, 1851. Rescue returns Sept. 7.  


This Day In Naval History - May 24

1917 - The first U.S. convoy left Hampton Roads, Va. to cross the North Atlantic after entering World War I. During the 18 months of war while American vessels escort convoys through the war zone, 183 attacks are made by submarines, 24 submarines are damaged and two are destroyed.  


This Day In Naval History: May 26

1943 - USS Saury (SS 189) attacks a Japanese convoy south of Kyushu and sinks transport Kagi Maru, about 10 miles north of the Nansei Shoto. Also on this date, USS Whale (SS 239) sinks Japanese gunboat Shoei Maru (which is transporting men of the Guam Base Detachment) about 17 miles


US Hospital Ship Aids South Korean Sailor

An MH-60S assigned to the Blackjacks of Helicopter Sea Combat Squadron 21 performs a medical evacuation of a sailor from Republic of Korea Submarine SSK Lee Eok Gi to hospital ship USNS Mercy (U.S. Navy photo by Elizabeth Merriam)

A U.S. hospital ship conducted a medical evacuation, or “medevac”, May 27 to assist an ailing Republic of Korea sailor aboard a Republic of Korea Navy (ROK-N) submarine.   At approximately 10:30 a.m. May 26, the Military Sealift Command operated USNS Mercy (T-AH 19) received


Container Weighing at 29 APM Locations

Transmitter fitted on Head block Photo APM

VGM Generation services will be offered to enable supply chain partners to comply with new IMO SOLAS regulations   The Hague, Netherlands - With just 50 days until SOLAS Verified Gross Mass (VGM) comes into force APM Terminals is taking the lead to ensure a smooth transition into the new


PortFresh Expanding Savannah Port's Chilled Cargo Capacity

PortFresh Logistics is constructing a 100,000 square-foot facility at a location with immediate interstate access and only 15 miles from the Port of Savannahs Garden City Terminal.

A new Georgia-based company called PortFresh Logistics has announced plans to build a 100,000 square-foot cold treatment facility dedicated to perishable cargoes imported through the Port of Savannah. The facility, slated to open in late summer 2016


This Day In Naval History: May 12

USS Enterprise (CV-6) (Photo: US Navy and Marine Corps Museum/Naval Aviation Museum)

1780 - The city of Charleston, S.C., falls to the British when Continental Gen. Benjamin Lincoln surrenders during the American Revolution. Three Continental Navy frigates (Boston, Providence, and Ranger) are captured; and one American frigate (Queen of France) is sunk to prevent capture.


Kim Heng Offshore Inks Pact with Iran Marine

Image: Kim Heng Offshore & Marine

 The Singapore-based  offshore services provider Kim Heng Offshore & Marine has signed a memorandum of understanding with the Iran Marine Fund (IMF)to provide its technical expertise and financing to Iranian offshore marine and oil & gas projects.  


This Day In Naval History: May 17

USS Roark (FF-1053). U.S. Navy photo by PHAN Burgess

1942 - USS Tautog (SS 199) sinks Japanese submarine I-28; USS Triton (SS 201) sinks the Japanese submarine (I 64), and USS Skipjack (SS 184) sinks a Japanese army transport ship.   1943 - Destroyers USS Moffett (DD 362) and USS Jouett (DD 396) sink German submarine U 128


Matson Launches China to New York LCL Service

 Matson Logistics Supply Chain Services is expanding its less-than-container-load (LCL) capabilities by offering direct fast transit from China to the New York and New Jersey markets.    The service is based on Matson’s China-Long Beach Express (CLX) service


US, Malaysia Bolster Port Security Partnership

Lt. Cmdr. Carlos Gavilanes (Far Right/Light Blue Shirt), Lt. Cmdr. Kevin Beaudoin (Brown Shirt), Lt. Alejandro Collazo (Light Blue Shirt/Hand Gesture) and Mr. Tivo Romero (Aloha Shirt). (Photo courtesy Penang Port Sdn Bhd.)

A U.S. Coast Guard International Port Security team completed a bilateral engagement with Malaysian officials in April.   This engagement involved sharing best practices and visiting with the Ministry of Infrastructure Marine and Ports Division to observe the implementation of the


ALP's Long-range Oceangoing Tug Named ALP Striker

ALP Striker (Photo: ALP)

ALP Striker, named at a ceremony held named on May 13, 2016, is the first of four ultra-long distance towing and anchor handling vessels for ALP Maritime Services, each with a bollard pull of approximately 300 metric tons.   The vessels of the SX157 design are a part of the ALP


This Day In Naval History - May 20

USS Russell (DDG 59) (U.S. Navy photo by Melinda Larson)

1815 - Commodore Stephen Decatur sails with his flagship USS Guerriere and a squadron of nine ships for the Mediterranean to suppress piracy. Under strict negotiations, Decatur is able to secure a treaty with the Day of Algiers, His Highness Omar Bashaw, on July 3.


DP World at China’s Belt & Road Summit

DP World Group Chairman and CEO, Sultan  			          Ahmed Bin Sulayem, with Chief Secretary for Administration of the Hong Kong Government, Ms Carrie Lam and UAE Minister of Economy, HE Sultan Bin Saeed Al Mansouri at the Belt and Road Summit in Hong Kong. Photo DP World

Global trade enabler DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem spoke at China’s Belt and Road Summit in Hong Kong this week highlighting the need for better international cross-sector connectivity in order to realise the significant trade potential.  


HCI Group Takes Over 13 Feeder Containerships

Courtesy HCI Capital

The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU






 
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