Marine Link
Sunday, May 20, 2018

Jay Spence News

Coast Guard, Partner Agencies Work to Recover Fallen Containers

Photo: USCG

At approximately 1 p.m. Monday (March 4, 2013), the Coast Guard received a report that 22 containers fell off the 91-foot barge Atlantic Trader and into the ocean 18 miles east of Key Biscayne, Fla. Coast Guard Watchstanders at Sector Miami received notification from the Tug Spence that 22 containers on a voyage from Jacksonville, Fla., to Guantanamo Bay, Cuba fell off the barge into the water. An aircrew from Coast Guard Airstation Miami launched to the scene and initially located some of the containers floating around the Tug Spence.

SS&Y Capesize Indices Fall

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 125 points to 4,293 in the week ending Dec. 29. "The final Pacific Capesize Index of 1999 brought a slight tinge of disappointment for owners," SS&Y reported. SS&Y's Atlantic Capesize Index fell 87 points to 4,532 in the same week. "The 87 point drop in the index won't have been unexpected due to the seasonal effect of holidays on demand," SS&Y reported.

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.

SS&Y Pacific Capesize Index Down 12 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index was down 12 points to 4,282 in the week ending Nov. 22. "Short-term prospects remain good as the plethora of Chinese enquiry is not fully covered yet, as well as some Atlantic-bound cargoes for December, which leaves a few opportunities for owners," SS&Y reported. "The firm tone should prevail over the coming week but thereafter the market will need fresh inquiry."

SS&Y Atlantic Index Up, Pacific Index Down

Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 162 points in the week ending Monday to 5,700. "Capesize rates strengthened overall by the middle of last week with rates from Richards Bay for October particularly strong, with fronthaul activity also firmer," SS&Y said. SS&Y's Pacific Capesize Index fell 11 points in the week ending Monday to 5,475. "The Pacific market saw a marginal re-balancing of tonnage supply in the charterers favor on certain positions," SS&Y said.

SS&Y's Pacific Capesize Index Unchanged

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index was unchanged at 3,287 in the week ending Oct. 4. "The Pacific is not matching the rapid progress seen in the Atlantic and was even showing signs of weakening," SS&Y reported. "Fresh firm inquiry will be needed if the Pacific sector is going to move up another level," SS&Y added.

SS&Y's Pacific Capesize Index Rises 912 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 912 points in the week ending Monday to 4,199. Problems with a dedicated vessel loading at Richards Bay for South Korea, along with increased Japanese activity, produced a firmer Pacific market, which saw a strong gain in the Pacific index, SS&Y officials reported, adding that several of the index's component routes firmed to over $2 a ton.

SS&Y's Atlantic Capesize Index Rises 148 Points

Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 148 points to 3,682 in the week ending Sept. 27. "A rise of 148 points in this week's index indicates the firmness of underlying demand, with trips bound for the Pacific firming considerably," SS&Y reported, adding that the ever-firming bunker price was a large contributing factor to the overall price.

SS&Y Capesize Indices

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. 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.

Spence Joins NCE

Jesse Spence joined NCE as an acoustical engineer this past October. Spence previously worked for the speaker manufacturer, Boston Acoustics. He graduated from the University of Rochester in 1998 with a BSME. He is a member of the Acoustical Engineering Society (AES) and the American Society of Mechanical Engineers (ASME). Within his short time at NCE, Jesse has already been involved in the development of code for the SBIR noise prediction program, the FRV-40 noise predictions and field noise surveys for various projects in locations such as Michigan, Maryland and Poland. Jesse and his wife Isola were married this past September.

Spence Offers New Line of Safety Valves

Spence Engineering Company, Inc., announced a new line of Safety Valves featuring a soft seat for tighter shutoff in those applications where the operating pressure is close to the set pressure of the valve. These ASME Section I and VIII approved valves also featured rugged construction and two ring control which make them extremely dependable in terms of pop action, seat tightness and blowdown.

SS&Y Pacific Capesize Index Rises 179 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 179 points to 4,378 in the week ending Oct. 18. "After last week's record rise (912 points), the Pacific Capesize index has continued on a more moderate upward path this week," an SS&Y spokesperson said. "Current Pacific trade and activity looks steady with the volume of Japanese and Chinese cargoes remaining strong, but Atlantic direction cargoes are not holding as high a premium as trans-Pacific, although brokers feel that this could alter soon," he added.

SS&Y's Pacific Capesize Index Rises 37 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 37 points to 3,287 in the week ending Sept. 27. "Cargoes uncovered for October helped to steady rates and even saw a slight improvement in places, which led to a modest 37 point gain in this week's index," SS&Y reported.

Frommelt Named President of PVA

Gary Frommelt, Hornblower Marine Services, Elizabeth, Ind., was elected 2003 PVA President on February 18 during the PVA Annual Convention at MariTrends 2003 held in Long Beach, CA. Other officers elected were PVA Vice President, David B. Clark, Golden Gate Ferry , Larkspur, CA, and PVA Secretary-Treasurer, Cornel Martin, Delta Queen Steamboat Company, New Orleans, LA. Frommelt serves as project manager for Hornblower Marine Services as director of marine operations for Caesars Indiana-home to the largest riverboat casino in the world. Frommelt was most recently PVA Vice President, has served on the PVA Board of Directors since 1996, and has been a long-term member of the Safety Committee.

PVA: Improve USCG Form 2692 Requirements

In a letter responding to a Federal Register notice about the renewal of Coast Guard Form 2692, Passenger Vessel Association (PVA) President Jay Spence insisted that the Coast Guard issue new instructions clarifying the circumstances in which a Form 2692 should or should not be submitted by passenger vessel operators. The Coast Guard solicited comments on its proposed application to the Office of Information and Regulatory Affairs (OIRA) renewing approval of Coast Guard Form 2692. OIRA is part of OMB and was created as a result of the Paperwork Reduction Act of 1980.

Ensco CFO Jay Swent to Retire

Jay W. Swent IIIExecutive Vice President and Chief Financial Officer

Ensco plc announced today that EVP & CFO Jay Swent, 64, will be retiring after more than 11 years of service. Mr. Swent will continue to serve in his current role until the succession process has been completed and a new CFO has been named. The completion of the succession process may extend into the first half of next year. “Jay has been integral to Ensco’s major achievements over the past decade as the company has grown to become an industry leader,” said CEO and President Carl Trowell.

Spence Takes over as Noise Control Engineering President

Jesse Spence (Photo: Noise Control Engineering)

Glosten subsidiary Noise Control Engineering, LLC (NCE), a Massachusetts-based acoustical and structural engineering consultancy, said it has appointed Jesse Spence as its next president. As NCE president, Spence will have direct responsibility for organizational processes, market assessment and business development. He accepts this position after serving as NCE’s director of technology. Spence joined NCE in 2001, having led the firm’s efforts to develop and implement technologies and techniques to facilitate solutions to marine acoustic and vibration problems.

SSY Acquires Bidsted & Co

Photo: Simpson Spence Young

British-based ship broker Simpson Spence Young (SSY) has acquired Danish dry bulk broker Bidsted & Co. Bidsted & Co, which was founded in 1940, is one of the last few remaining independent shipbrokers in Copenhagen. Bidsted’s chartering and S&P expertise focuses on serving Danish and Far Eastern dry cargo charterers, operators and shipowners.

SSY Atlantic Capesize Index Gain by 487 points

File Image (CREDIT: AdobeStock / (c) Lucasz Z)

Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index gain by 487 points in the week ending Monday to 6,338.   "The SSY Atlantic Capesize Index softened by 487 points from the previous week to 6,338, the lowest level since early August. However, the premium to the year-ago level remained at 1,400 points. The Atlantic round voyage rate (180k dwt) dropped by $4,900/day week-on-week to a sixmonth low of $10,750/day, while fronthaul rates fell by $3,450/day to $22,400/day". 

Maritime Security East 2014 Underway in Boston

Captain Anthony Popiel, chief, Response Division, U.S. Coast Guard First District (pictured right); and Robert M. Gauvin, executiRobert M. Gauvin, executive director of Piracy Policy and technical advisor in the Office of Vessel Activities at U.S. Coast Guard Headquarters (pictured right), and Captain Anthony Popiel, chief, Response Division, U.S. Coast Guard First District (Photos by William Lusk)

Maritime security and law enforcement experts are gathering in Boston this week to better understand maritime domain awareness and the challenges of port, waterway and coastal security, environmental protection, safety and law enforcement. One big lesson learned is that everything is just a little more challenging on the water. A number of law enforcement agencies from the New England area are attending and participating that have specific duties and functions associated with the maritime environment…

PVA Elects New President, Officers,Board

PVA members, during the PVA Annual Convention at MariTrends 2010 in Tampa, Fla., elected Kevin Stier as President. Captain Stier is owner of River Cruises, Scales Mound, Ill.. River Cruises operates the 149 passenger Riverboat Twilight that offers two-day overnight cruises on the Upper Mississippi River. A longtime member of the PVA Regulatory Committee, Captain Stier has been a member of the PVA Board of Directors since 2003 and has served as PVA Vice-President and PVA Secretary-Treasurer. Captain Jay Spence was elected PVA Vice President. Captain Spence is General Manager of Massachusetts Bay Lines in Boston, Mass. This second-generation, family-owned business has operated since 1963 and is the oldest operating year-round commuter service in Boston.

PVA Elects New Officers and Board

At the 2010 Passenger Vessel Association Convention at MariTrends in Tampa, Fla., the members of the PVA elected their new officers and board members. Captain Kevin Stier, River Cruises, Scales Mound, Ill. Captain Jay Spence, Massachusetts Bay Lines, Boston, Mass. Paul Belforti, Entertainment Cruises, Chicago, Ill. Captain Kevin Stier is the owner and operator of River Cruises. River Cruises offers two day overnight cruises on the Upper Mississippi River aboard the vessel Twilight. Captain Stier’s career started with him working on the Julia Belle Swain for the late Captain Dennis Trone, one of the original members of the PVA, throughout the span of his career Captain Stier has piloted the Julia Belle Swain, the Talisman and Twilight, of which he was instrumental in the construction.

SSY Pacific Capesize Index Rises Again

File Image (CREDIT: AdobeStock / © Lucasz Z)

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index reported a gain by 241 points in the week ending Monday to 4,915.   "The SSY Pacific Capesize Index increased by 241 points week-on-week to a 16-week high of 4,915 points. A $650/day rise in the Pacific round-voyage rate (180k dwt) was modest compared to increases in Atlantic earnings however, this was still enough to lift it to a year-to-date high of $16,000/day. The W.Australia-China iron ore spot rate rose by $0.15/t to $7.25/t." SSY said.

Maritime Reporter Magazine Cover May 2018 - Marine Propulsion Edition

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