Simpson Spence & Young
| Company type | Private |
|---|---|
| Industry | Shipping, Maritime services, Shipbroking |
| Founded | January 1, 1880 in New York City, United States |
| Founder | Ernest Simpson, Lewis Spence, Captain William Young |
| Headquarters | London , United Kingdom |
Area served | Worldwide (19 offices including Athens, Copenhagen, Dubai, Geneva, Hong Kong, Houston, London, Madrid, Melbourne, Mumbai, New York, Oslo, São Paulo, Shanghai, Singapore, Stamford, Sydney, Tokyo, Vancouver, Varna, Zug) |
Key people | Ernest Aldrich Simpson (historical figure) |
| Products | Dry bulk shipping, Tanker operations, Tugboat services, Maritime financing and investment solutions (SSY Finance), Valuation services (SSY Valuation Services) |
Number of employees | 400+ |
Simpson Spence & Young (SSY), established in 1880 in New York City by Ernest Simpson, Lewis Spence, and Captain William Young, stands as a prominent international shipbroking and maritime services company. Initially, Ernest Louis Simpson, an English shipbroker, joined forces with Lewis H. Spence to form Simpson & Spence. The arrival of Captain William Young in 1882 led to the firm's renaming as Simpson Spence & Young. The company later extended its presence by opening a second office in Newcastle upon Tyne, England. Ernest Aldrich Simpson (1897–1958), son of the founder Ernest Simpson, subsequently became part of the business.
Operating from its headquarters in London, SSY has evolved into one of the foremost shipbroking enterprises globally, employing more than 400 professionals across 19 offices worldwide. The firm’s activities encompass dry bulk shipping, tanker operations, tugboat services, and other maritime-related sectors.
Shipping
Simpson Spence & Young oversees a varied fleet that includes Handysize, Handymax, Panamax, and Capesize vessels. Their shipping services involve the transportation of commodities such as iron ore, coal, liquefied petroleum gas, and grain. Furthermore, SSY offers harbor tugboat operations.
Offices
By 2022, SSY had established offices in major international hubs including Athens, Copenhagen, Dubai, Geneva, Hong Kong, Houston, London, Madrid, Melbourne, Mumbai, New York, Oslo, São Paulo, Shanghai, Singapore, Stamford, Sydney, Tokyo, Vancouver, Varna, and Zug.
SSY Finance
In 2019, following the purchase of Carnegie Bank’s stake in their joint venture SSY Carnegie LLP, SSY introduced SSY Finance. This division broadens the company’s reach into maritime financing and investment solutions.
SSY Valuation Services
The analytical branch of SSY known as SSY Valuation Services delivers clients with critical data and insights aimed at enhancing shipping management decisions.
Ernest Simpson
Ernest Simpson’s son—also named Ernest—married Wallis Warfield Spencer in 1928; their marriage ended in divorce by 1937. Wallis subsequently wed King Edward VIII after his abdication from the British throne; he then assumed the title Duke of Windsor.
World War II
During the Second World War, Simpson Spence & Young operated merchant vessels under contract with the United States Shipping Board. Their affiliated entity Polarus Steamship Company actively engaged in charter shipping for both the Maritime Commission and War Shipping Administration. SSY managed Liberty and Victory ships crewed by Polarus personnel while the U.S. Navy supplied Armed Guards responsible for deck guns and radio operations.
Liberty ships
Among Liberty ships operated by SSY during World War II were:
- SS Joseph Goldberger
- SS Jean Baptiste Le Moyne
Tankers utilized in the war effort included:
- SS Antiope (1914)
- SS Byron Darnton
After World War II, SSY owned Liberty ships such as:
- SS Thomas L. Haley
- SS John H. Eaton
- SS John Philip Sousa
- SS John Roach
- SS Spetsae
- SS Joseph Leidy
- SS William Few
- SS James L. Ackerson