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Links to previous press releases are below. We welcome bona fide press enquiries, please email for further information

News Oil

Russia’s Output Cut Reaches Near-Full Compliance

Russia had said that it’s oil production has now been lowered by around 300K b/d compared to October levels, newswires report, citing the country’s Energy Minister Alexander Novak. This is close to meeting the country’s obligation as part of an OPEC and non-OPEC crude output cut for ...

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News Grain

IGC Lifts Corn Trade Forecast

The International Grains Council (IGC) has lifted its forecast for Brazilian corn exports in 2017/18 (Jul-Jun) by 1.3 Mt to 26.5 Mt on the expectation of a very strong harvest and high shipments from July onwards. As a consequence, with robust exports also expected from Argentina and Ukraine, global corn trade in 2017/18 is now forecast at a record 138.9 Mt. US corn exports are projected to decline by 8.1 Mt from this year’s strong total to 49.0 ...

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News Steel

Japanese Steel Exports Slow in the 1q17

Japan exported 9.9 Mt of steel in the 1q17, down by 0.5 Mt year-on-year, as shipments to destinations in Asia (-0.2 Mt to 7.8 Mt) and the Middle East (-0.3 Mt to 0.2 Mt) declined, according to the Japan Iron and Steel Federation. By contrast, exports to South America and the US increased modestly to 0.9 Mt and 0.5 Mt, ...

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News Grain

US Grain Exports at Three-Week High

A rebound in soyabean shipments lifted US exports of corn, wheat and soyabeans combined to a three-week high of 2.77 Mt in the week-ending 20 April, the US Department of Agriculture reports. Shipments of all three commodities were well above their respective year-ago levels when combined exports totalled just 1.92 ...

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News Economy

Chinese Industrial Profits Rise Sharply

Profits at major Chinese industrial companies increased by 23.8% year-on-year in March to 688.7 billion yuan ($99.9 billion), with steel mills reporting strong earnings growth as government backed infrastructure investment and a robust real estate sector supported demand for construction materials, according to National Bureau of Statistics data reported by Reuters. Industrial profits in the 1q17 were up by 28.3% on the same period last year at 1.7 trillion ...

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News Oil

Libya Restarts Sharara and El Feel Oil Fields As Pipeline Protests End

Libya has restarted its 300K b/d Sharara and 90K b/d El Feel oil fields as disruptions at the sites (including armed protests at pipelines linked to the Sharara oil field) came to an end, Reuters reports. However, the country’s output is still vulnerable to disruption with facilities having repeatedly been closed and reopened in 2017 amid ongoing unrest. Libya’s oil production averaged around 610K b/d in March, according to the International Energy Agency. State-oil firm NOC is aiming to raise output to 1.1M b/d by August, but has noted that unplanned shutdowns could push this target ...

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News Oil

Singapore Fuel Oil Stocks Fall To 3-Month Low

Singapore’s fuel oil inventories fell by 2.40M bbls w-o-w to a 3-month low of 23.18M bbls in the week to 26 April, Reuters reports, citing official data. The decline was due to a surge in export volumes.

News Oil

US Crude Stocks Fall Amid Record Refinery Inputs

US crude stocks fell by 3.6M bbls in the week ending 21 April to 528.7M bbl, according to the latest data from the US Energy Information Administration.  The decline came despite a 1.1M b/d rise in crude imports to 8.9M b/d as refinery crude inputs rose by 347K b/d week-on-week to a record 17.3M b/d (as refineries operated at over 94% capacity), 1.44M b/d higher than the same week last year. Crude exports grew to the second highest weekly level on record at 1.15M b/d, more than double the volume in the previous week. Meanwhile, gasoline inventories rose by 3.4M bbls to 241M bbls, driven by a hike in East Coast stocks, as imports increased by 73K b/d to 916K b/d, the highest weekly volume since September. ...

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Event Derivatives

SSY Futures Limited Transact First Trade in New FFA Contract.

The first futures contract based on a Baltic type 58kt Supramax priced from a basket of ten time charter routes has been traded with SSY Futures Ltd acting as broker.

London: Friday April 7th, 2017: Simpson Spence Young, the world’s largest independent shipbroker, has today confirmed that its derivatives broking subsidiary, SSY Futures Ltd has arranged the first futures contract in the new Supramax time charter average contract, priced against a basket of ten of The Baltic Exchanges new Supramax indices.

The trade was cleared via Nasdaq OMX and involved units of well-known FFA market participants Cargill and Louis Dreyfus.

SSY’s veteran FFA broker and Supramax specialist Jeff Brown said; “We are delighted to have concluded this first transaction in the new Supramax contract and are grateful to Cargill and Louis Dreyfus for their support. It is important to the freight industry to keep our indices up to date and relevant to the underlying markets, the new contract achieves this extremely well. We are confident of further support from the market as this new contract finds traction.”

Forward Freight Agreements (FFAs) are used by freight market participants to mitigate shipping price risk. The Baltic Exchange is the world’s leading publisher of Freight Market Data, FFAs settle against their indices and are cleared by several of the world’s leading exchange groups, including SGX, LCH Clearnet and Nasdaq ...

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Event Corporate

SSY Invests In Online Information

New portal provides shipping professionals with 24/7 online access to data, research, information and analysis
London: Friday December 9th, 2016: Simpson Spence Young, the world’s largest independent shipbroker, has today launched a subscription based information portal which provides 24x7 online analysis of the fast changing shipping and commodity markets.
The new service, called ‘Premier Club’, has three different annual subscription levels based on the depth of information required. Gold membership is $5,000, Silver $2,500 and Bronze $1,000. Premier Club is run by Simpson Spence Young’s respected 12-person consultancy and research department headed by John Kearsey.
Buying an annual subscription gives members immediate online access to reports, presentations and key data on the dry bulk, tanker, chemical and gas carrier sectors. Gold members can additionally correspond directly with Simpson Spence Young’s analysts in Europe and Asia via an ‘Ask the Analyst’ facility.
Commenting on the launch Simpson Spence Young Vice Chairman Mark Richardson said: "We have invested in this online portal so as to provide our customers and shipping professionals with the very best information and analysis at their fingertips. Premier Club membership will improve information flow and ultimately enhance decision making.”

To subscribe to Premier Club please visit Read More

Event Research & Consultancy

ICS Canada Conference

Simpson Spence Young's Head of Research, John Kearsey, was one of the speakers at the Annual Dry Bulk & Commodities Conference in Vancouver, which was organised by the Institute of Chartered Shipbrokers on 18 November.

Event Research & Consultancy

Bunker Fuel Implications

November's edition of the SSY Monthly Shipping Review includes a feature on the new IMO rules for bunker fuels, which could have major implications for charter and Sale & Purchase markets, as well as fleet developments. For details on how to subscribe to the report, please contact Read More