For us young ones:
How do sea navigators measure their ships speed? http://www.physlink.com/education/askexperts/ae400.cfm
log: "from log (n.1) which is so called because a wooden float at the end of a line was cast out to measure a ship's speed. General sense by 1913."
Source: http://www.etymonline.com/index.php?term=log&allowed_in_...