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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.


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.


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.


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


L.A., Long Beach Create Supply Chain Working Groups

Logo

  Seeking new supply chain efficiencies, the ports of Los Angeles and Long Beach have announced the creation of working groups focusing on peak operations and terminal optimization to develop ways to strengthen the competitiveness of the San Pedro Bay port complex.  


New Dry Bulk Facility at Khalifa Port

Photo: Abu Dhabi Ports

New AED 20 million facility will pack and transport dry bulk products for petrochemical and mineral manufacturers    Abu Dhabi Ports celebrated the groundbreaking of Schmidt ME Logistics’ new facility in Khalifa Port’s industrial, trade and logistics zone, Kizad


USCG Assists 2nd Activist From Arctic Challenger

Crew members from Coast Guard Station Bellingham, Wash., assist Chiara D’Angelo, an activist, down from the anchor chain of Arctic Challenger in the Port of Bellingham, May 25, 2015. The Coast Guard crew responded to D’Angelo’s request for assistance to come down from the anchor chain. (U.S. Coast Guard photo courtesy of Station Bellingham)

  Coast Guard personnel assisted in the removal of an activist who secured herself to the anchor chain of the Arctic Challenger in Bellingham, Wash., Monday morning. Chiara D'Angelo requested Coast Guard assistance down from the vessel's anchor chain at approximately 9:30 a.m


Maersk Line to Reduce CO2 Emission per Container by 60%

Photo: Maersk Line

 The world’s largest container shipping company Maersk Line has set itself a bold new target to cut CO2 emissions by 60% by 2020.   The company has stated that its emission reduction plan will save the climate around 200,000,000 tons of CO2


Mayor Garcetti on Ratification of Port Labor Contract

Courtesy Port of Los Angeles

  International Longshore and Warehouse Union members have ratified a five-year contract governing pay and work rules at 29 West Coast ports, including those of Los Angeles and Long Beach. Mayor Eric Garcetti made the following statement regarding the ratification of the port labor


European Ports Identify Their Priorities

Photo: European Sea Ports Organisation

European ports are real “multitaskers”: they combine different functions ranging from gateway to the world, nodes in the transport chain, hotspots for Europe’s industrial activity, safe and secure shelters, the link between Europe’s peripheral regions and islands to the


Containership Reliability Reaches New High

Photo: Maersk Line

Container service reliability reached a data-series high in April with the aggregate on-time performance for the three key East-West trades rising to 67.6%, up by 4.1 percentage points on March, according to Carrier Performance Insight , the online schedule reliability tool provided by Drewry


Trelleborg to Supply FPSO Mooring Systems in Angola

Photo: Trelleborg

Trelleborg’s marine systems operation has been awarded the contract to supply complete tandem mooring systems to two floating production, storage and offloading (FPSO) vessels in Angola, West Africa.   The Angola-based FPSO tandem mooring projects demanded solutions capable of


Philippine to Build Naval Base on Disputed Waters

Spratly Islands Map by Google

 Philippine military will soon build naval base on the country’s western coastline, opposite the disputed Spratly islands, Reuters reported Armed Forces chief Gen. Gregorio Pio Catapang Jr. as saying.   "We feel this is the number one priority because of the emerging


GAIL to Stop LNG Imports at Dabhol

Dabhol LNG terminal: GAIL

 GAIL India is all set to stop LNG imports at the Dabhol terminal in Ratnagiri district of Maharashtra from this month as the onset of monsoon will make operations difficult without a breakwater, says a PTI report.   The terminal cannot be operated during monsoon in absence of a


Port of Long Beach Hosts Cargo Forecast Event

Photo courtesy of the Port of Long Beach

Industry leaders examine trade trends for 2015 and beyond   Experts from across the goods movement industry spoke at the 11th annual “Pulse of the Ports: Peak Season Forecast,” an event hosted by the Port of Long Beach that drew 600 people to the Long Beach Convention


Peel Ports Launches Cargo200 Initiative

Patrick Walters, Peel Ports

  The UK’s second largest ports operator, Peel Ports, has today (Wednesday, 29 April) launched a major carbon emission initiative, Cargo200, and is calling on the UK freight and logistics industry to rethink supply chain and services routes in order to reduce freight mileage by 200


Japan, US Bolster Submarine Alliance

Commanders from the U.S. and Japanese Navies visited Naval Base Guam, touring the base and examining areas of cooperation, the U.S. Navy reported.   The United States’ Rear Adm. William R. Merz, commander, Submarine Group 7, and Japan’s Vice Adm


JSMEA Offers Access to Japan’s Offshore Suppliers

JSMEA website.jpg

New website and brochure provide a comprehensive list of Japanese suppliers to the offshore industry   The Japan Ship Machinery and Equipment Association (JSMEA) has compiled a list of Japanese-made ship machinery and equipment products for offshore units


Iran: Revolutionary Guards Seized Ship for Legal Reasons

Naval units from Iran's elite Islamic Revolutionary Guards Corps (IRGC) seized a cargo ship in the Gulf on Tuesday for legal reasons, an IRGC source was quoted as saying by state news agency IRNA.   The report, which described the ship as "an American cargo vessel with a Marshall






 
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