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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.


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'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


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.


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.


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.


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


APM Named 'Best Inland Service Provider'

ELSC Award

8th Annual Express Logistics & Supply Chain Conclave, prominent Indian-based business gathering recognizes service excellence. APM Terminals India Pvt. Ltd. was named “Best Inland Service Provider” for the third time in three years at the recently concluded 8th Annual Express


Ingalls VP Named a Leading Business Woman in Mississippi

Lori Harper (Photo: HII)

Huntington Ingalls Industries (HII) announced today that Lori Harper, vice president of supply chain management at the company's Ingalls Shipbuilding division, was named one of the state's 50 Leading Business Women by Mississippi Business Journal.


Hurricane Gonzalo Knocks out Bermuda Power

  Power was knocked out to 80 percent of Bermuda's electricity grid due to Hurricane Gonzalo, the island's only power company, Bermuda Electric Light Co., said on Friday evening.   The company reported that about 29,000 customers were without electricity, out of 36


CMA CGM Acquires 7,000 Reefer Containers

Photo: CMA CGM

The CMA CGM Group announced it has acquired more than 7,000 of last generation 40’ High Cube Reefer containers including 6,000 low consumption engines. The CMA CGM Group said regularly invests Reefer containers that reduce carbon print by 60% compare to the first generation’s Reefers


Update: SS Central America Salvage

Coins recovered from the shipwreck of SS Central America (Photo: Odyssey Marine Exploration)

Odyssey Marine Exploration completes current phase of SS Central America recovery; 15,500+ gold and silver coins, 45 gold bars recovered to date; 161,000-square meter, high-resolution visual site survey complete Deep-ocean exploration company Odyssey Marine Exploration, Inc


CEVA Opens European Center of Logistics Excellence

CEVA logo with tagline

  CEVA Logistics, a leading global supply chain management company, today announced the opening of its first Center of Logistics Excellence in Europe. Situated in Ashby de la Zouch, United Kingdom, the opening marks CEVA’s third Center following the launch of Centers in Jacksonville


Tax Relief for Indian Seafarers

NUSI presents Cheque for the Relief of flood affected brothers and sisters in Jammu & Kashmir

  Indian seafarers serving on Indian flagged vessel are forced to pay income tax if their vessel touches two Indian ports during a voyage whereas Indians serving on foreign flag vessels were exempted from paying such a tax. This had cast a burden not only on the seafarers but Indian shipping


WWll Liberty Ship Spills Oil

SS Jeremiah OBrien: Photo CCL3

The Coast Guard and California Department of Fish and Wildlife personnel are investigating a fuel spill that occurred near Pier 45 at Fishman’s Wharf in the San Francisco Bay, from the functioning Liberty Ship 'SS Jeremiah O'Brien'.


Statoil: New Compressor Means Heightened Production

 The compressor will help boost recovery rate and accelerate production on the Kvitebjørn field. (Photos: Harald Pettersen)

The new compressor in operation on the Kvitebjørn field in the North Sea from 17 September will increase production there by 220 million barrels of oil equivalent and extend the field’s lifetime with eight years. The compressor will help boost recovery rate and accelerate


San Francisco Bay Fuel Spill Under Investigation

The U.S. Coast Guard and California Department of Fish and Wildlife personnel continue to respond to a fuel spill that occurred near Pier 45 at Fishman's Wharf in the San Francisco Bay Saturday. At 10:56 a.m., Saturday, Coast Guard Sector San Francisco personnel received a report that an


Mammoet Partners with Port Freeport

Port Freeport, Texas (Photo: Mammoet)

At the upcoming Breakbulk Americas Event in Houston, Mammoet will present its partnership with Port Freeport, Texas. With this partnership, Mammoet intends to take its factory-to-foundation service to the next level. Mammoet’s factory-to-foundation service aims to ensure that large and


Felixstowe Port Receives Full AEO Status

Port of Felixstowe

  The Port of Felixstowe, the Port of Britain, has become the first UK port to receive full Authorised Economic Operator (AEO) status. The AEO initiative was introduced by the European Commission through the Union Customs Code to help simplify customs procedures and secure international


First Damen Crane Barge to head to Uruguay

 Damen Crane Barge

  Damen Shipyard Group’s new transshipment Crane Barge (CBa) 6324 has got off to a strong start, with an order for the first unit from a client in Uruguay. The barge features the proven Liebherr CBG 350 crane as standard and on this occasion has been outfitted with a unique mooring


Uniworld Again Chooses Merus Water Treatment

Image: Pronomar

Pronomar received an order from Uniworld/Global River Cruises GmbH to apply the Pronomar MERUS technology on board of one of its luxurious River Cruise vessels; the River Beatrice. Following good results on previously equipped vessels, Pronomar equipped complete cold water system


Seaspan Shipyards Completes Repair Work on Historic Tug

288A3445 - small.jpg

Seaspan’s Vancouver Shipyards announced today it has completed volunteer repair work on the Steam Tow Boat Master (SS Master) as part of its $50,000 donation to the SS Master Society.                             






 
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