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.
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.
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.
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.
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.
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
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.
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.
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.
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
The Netherlands Ministry of Infrastructure and the Environment, Rijkswaterstaat (RWS), has chosen Kongsberg Norcontrol IT to deliver a state-of-the-art RADAR surveillance system for the Volkeraksluizen, Europe's largest and busiest inland lock complex.
Today in U.S. Naval History - December 2 1775 - Congress orders first officers commissions printed. 1908 - Rear Admiral William S. Cowles submits report, prepared by Lt. George C. Sweet, recommending purchase of aircraft suitable for operating from naval ships on scouting and observation
Today in U.S. Naval History - December 4 1918 - President Woodrow Wilson sails in USS George Washington for Paris Peace Conference. 1943 - Aircraft from USS Lexington (CV-16) and USS Independence (CVL-22) attack Kwajalein Atoll, sinking four Japanese ships and damaging five others
Epic Gas Ltd. says it has contracted Kyokuyo Shipyard Corporation in Japan to build two 11,000 cbm fully-pressurised gas carriers to be delivered in 2016. This latest order brings the total newbuild contracts for the year to eight fully-pressurised vessels
Houston-based maritime law firm Schechter, McElwee, Shaffer & Harris recently obtained what is believed to be one of the largest settlements paid by the United States to a Jones Act seaman. According to court documents, their client, a 58-year-old seaman was working aboard the S.S
CWind hosted a delegation of 20 businesses from the south east region of Northern Ireland on Tuesday this week. The delegation, led by Energy Connections NI and hosted by the East of England Energy Group (EEEGR) was in the area this week to see first-hand how businesses here have taken advantage
TT Club’s Senior Underwriter, Dan Negron, speaking at the recent TOC Americas Conference in Miami outlined his views on future Latin American trade growth and the pressures that this will create on the region’s transport infrastructure. Excerpts from his address follow:
The U.S. Navy sold the 1,067-foot behemoth 'USS Forrestal' to a Texas company, All Star Metals, to be dismantled, scrapped and recycled, an inauspicious fate for a ship with a colorful and tragic history, reports Fox News, citing a Navy announcement.
Effective sharing of marine construction experience, safe methods of working and recommended practice for offshore installation will lie at the heart of presentation by Alan MacLeay at EWEA Offshore 2013 in the "Synergies with other maritime technologies" session on November 20 in the
Today in U.S. Naval History - November 4 1967 - Landing craft from USS Navarro (APA-215) rescue 43 men from British SS Habib Marikar aground on a reef at Lincoln Island in the Tonkin Gulf. 1971 - USS Nathanael Greene (SSBN-636) launches a Poseidon C-3 missile in first surface launch of
The many years of concern about the commercial Mexican-U.S. cross-border practices which slow down the movement of cross-border cargo and security implications, especially because of the drug cartel involvement in these movements, and Customs and Border Protection (CBP) concern for accuracy in
Prosafe has agreed a Letter of Intent (LoI) with COSCO (Qidong) Offshore Co. Ltd. for the Engineering, Procurement and Construction of two semi-submersible accommodation vessels, with options for four further units. The pair will be the most advanced and flexible units for worldwide operations
Australia's NSW government will go ahead with the long-term lease of the Port of Newcastle, the world’s biggest coal export location by annual capacity for a reported figure of around $700m, reports the Australian Journal of Mining.
During the tenth-annual Chamber of Shipping of America (CSA) awards ceremony held in Washington, D.C., this week, Crowley Maritime Corporation was awarded 100 Certificates of Environmental Achievement for 2013 – more than any other company in the running
COSCO Corporation (Singapore) Limited announce that contracts each in excess of US$200-million for two advanced semi-submersible accommodation vessels to be constructed in China have been declared effective. The accommodation rigs are to be built by COSCO subsidiary COSCO (Qidong) Offshore