I'm back now and the game certainly has a lot of new features and aesthetic fix-ups that I've seen but one of the updates I was most excited about was the Captain's Log which, unless I'm missing something, isn't out yet. Is there an estimated time as to when this will be released? A thread maybe?

Today, the captain's log contains two things:

1) A list of all your current spy reports (cast a Spy Network to test this)
2) A display of how many battles you've fought in the last 24 hours, with a link to your battles

click inbox at right side captain's log if you meant that one?
it also shows your plundered ship amounts, transported pop amounts and shipwreck hunt amounts
also trade master reports.

My bad I meant moreso the journal part of it... if that is even being added

No Journal yet...

But it also includes, in addition to what Haron stated, Trade Master Reports you have cast and "Various Stats"

Various Stats : Ships Lost, Ships Plunders, Citizens Transported, Shipwrecks found. These are the only 4 I have, so I don't know if there is more.