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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

Peel Ports' Cargo200 drive Secures 50 Supporters

CGI of completed Liverpool2 container terminal

Peel Ports has today (Thursday 19 November) announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign.   Launched in May, Peel Ports called for importers and exporters whose goods began or ended

Drewry: Container Service Reliability Falls

Containership reliability took a small step backwards in October as the average on-time performance across all trades reached 77.9%, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.

Pressure on Container Market Akin to 2008 Recession: UASC

Photo: United Arab Shipping Company

 A marked drop in Asian imports to Europe, made worse by a strong dollar, has exacerbated the pressure on shipping lines already struggling with massive over capacity, Arabian Supply Chain quotes United Arab Shipping Company (UASC) as saying.  

Opportunities for Shipping from Decarbonisation Through Windpower

Wind challenger Credit IWSA

  As the interconnector of global trade shipping facilitates every other part of the economy, and decision making around low-carbon pathways in other transport modes and industries will both influence and constrain decarbonisation in shipping.

MSC Withdraws Great Sea Service

Courtesy MSC

MSC announced today, the withdrawal of their ‘Great Sea’ service that operates between Asia and the Black Sea.   The service will cease operation on Asia export sailings from the first week of November. The string currently operates nine vessels with a nominal capacity of 5

Italy's LSCT Executives Tour Asian Logistics Hubs

Cecilia Battistello

  In Singapore, senior executives from Italy's La Spezia Container Terminal - Contship Italia Group will kick off a tour of key cargo hubs across south east and east Asia today to raise awareness and promote the benefits of La Spezia Homeport as the gateway to Northern Italy and its main

Company Profile: Offshore Inland

Global 1200 WEB.jpg

Longer Docks; Deeper Water in Pensacola With Offshore Inland Marine & Oilfield Services Inc (OIMO), a leader in topside and riding crew repair services, experiencing strong growth before the drilling market softened, the company knew its days in Mobile, Ala

GSL, Moran Iron Works Ink Deal


In a deal that on the surface proves promising for vessel construction in the United States, Green Shipping Line (GSL) and Moran Iron Works (MIW) signed a teaming agreement to pursue marine construction projects in the United States.  

First Warehouse at Caucedo Logistics Center Opened

President of the Dominican Republic Danilo Medina Sanchez and DP World Chairman HE Sultan Ahmed Bin Sulayem at the official opening of the first warehouse at the Caucedo Logistics Centre in the Dominican Republic.

  The first warehouse at the Caucedo Logistics Centre has been officially opened at a special ceremony in the Dominican Republic by President Danilo Medina Sanchez and HE Sultan Ahmed Bin Sulayem, Chairman of DP World.   The Caucedo Logistics Centre is a joint venture between DP World

La Spezia CT Wraps up Asian Tour


  Senior executives from Italy’s La Spezia Container Terminal - Contship Italia Group, wrapped up a whirlwind tour of key supply chain hubs in South East Asia and China this week with a presentation and networking event in Shanghai.

New Barge Fleeting and Switching Operation in Cairo Harbor

 American River Transportation Company (ARTCO), a subsidiary of Archer Daniels Midland Company (ADM), today announced plans to launch new barge fleeting and switching operations in the Cairo, Illinois, harbor starting January 1, 2016.   

Energy Firms Partner to Cut Costs in the North Sea

Photo: Petrofac

Petrofac, Faroe Petroleum and Eni Hewett have established a cost-saving partnership to drive efficiencies and commercial synergies across U.K. operations in the Southern North Sea.   The tripartite agreement sees collaboration between Petrofac (Duty Holder) and the respective equity owners

K-Line Rolls Out UAE Logistics Firm

 Image: K Line Europe Ltd

 Japan-based Kawasaki Kisen Kaisha (“K” Line) and Sharaf Group have established a new firm, K Line Shipping & Logistics (KLSL).    Based in Dubai, UAE, KLSL will carry out businesses in the fields of marine transportation, logistics, land transportation

New GM at Perkins Marine Facility in Wimborne

Andrew Goldspink (Photo: Perkins)

Engine manufacturer Perkins hires Andrew Goldspink to succeed retiring general manager Steve Phillips. After 30 years at engine manufacturer Perkins, Steve Phillips has elected to retire from his role as General Manager of the company’s marine facility in Wimborne

Port of LA Volume Drops in October

TraPac Container Terminal Courtesy Port of LA

  The Port of Los Angeles handled a total of 704,588 Twenty-Foot Equivalent Units (TEUs) in October 2015. October volumes decreased 1.5 percent compared to the same period last year.   “This October’s volumes were slightly less than last October

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