JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.

E-MAIL : Robert.sands@jupiterseaair.co.in   Mobile : +91 98407 85202

Corporate News Letter for Wednesday  February 01, 2023.

                                                                                                                  

::               Today’s Exchange Rates              ::

Source : The Economic Times.


CURRENCY

PRICE

CHANGE

%CHANGE

OPEN

PREV.CLOSE

DAY's LOW-HIGH

USD/INR

81.92

0.409996

0.503001

81.58

81.51

81.565- 82.0825

EUR/USD

1.0864

0.0013

0.119803

1.0851

1.0851

1.0802- 1.0868

GBP/INR

101.0173

0.024002

0.023766

100.7998

100.9933

100.7145- 101.1106

EUR/INR

88.7172

-0.127197

-0.143169

88.5241

88.8444

88.4558- 88.8231

USD/JPY

130.126

-0.263992

-0.202464

130.38

130.39

129.748- 130.531

GBP/USD

1.2318

-0.0034

-0.275266

1.2352

1.2352

1.2284- 1.2371

DXY Index

102.468

0.192001

0.187729

102.191

102.276

102.124- 102.607

JPY/INR

0.6292

0.0031

0.495125

0.6249

0.6261

0.6248- 0.6299

:                   Sea Cargo News                ::


Investment boost of US$131 million at Jawaharlal Nehru Port Container Terminal

Jawaharlal Nehru Port Container Terminal (JNPCT)


Nhava Sheva Freeport Terminal Private Limited (NSFTPL) and Asian Development Bank (ADB) signed a US$131 million loan in order to upgrade the Jawaharlal Nehru Port Container Terminal (JNPCT) in Nhava Sheva, India.

The financing package consists of US$61.4 million from ADB’s ordinary capital resources and US$69.6 million from Leading Asia’s Private Infrastructure Fund (LEAP) administered by ADB.

NSFTPL is a special purpose vehicle jointly owned by J M Baxi Ports and Logistics Limited (JMBPL) and CMA Terminals.

The funds will be used for the upgrade of existing berths and yards and for the installation of additional energy-efficient equipment, such as electric quay cranes.

According to ADB, these upgrades will expand the terminal’s container handling capacity and "attract vessels operating on important international shipping lanes".

ADB vice-president for Private Sector Operations and Public–Private Partnerships Ashok Lavasa, commented, "Long-term financial support from ADB can boost economic competitiveness in India by developing world-class mega ports and boosting the efficiency of containerized cargo terminal operations."

Konecranes inks licensing agreement to expand its presence in India

 


Finland-based port equipment manufacturer Konecranes aims to strengthen its presence in the Indian market with a licensing deal with an Indian multinational corporation Larsen & Toubro (L&T) for the manufacturing and distribution of Konecranes port cranes in the country.

The partnership between Konecranes and Larsen & Toubro (L&T's) Minerals & Metals business unit includes Konecranes' brand portfolio of manually driven ship-to-shore, rubber-tired gantry, rail-mounted gantry and shipyard cranes.

The first order under this agreement was from Cochin Shipyard for two shipyard jib cranes, received in November of 2022. The cranes are level-luffing, single-boom jib cranes, the first with 75-tonne lifting capacity and 85m outreach, and the second with 40-tonne lifting capacity and 75m outreach.

L&T will manufacture them at its Kanchipuram factory in Tamil Nadu province using design and components from Konecranes, with the Finnish equipment manufacturer supervising the entire delivery. The cranes will be delivered within 24 months to the Cochin Shipyard.

“This agreement will broaden the reach of Konecranes port cranes in India, a dynamic market with great potential. We look forward to working with L&T to build a customer base that will benefit from our specialist expertise and global service network.  We are pleased that the agreement is already rolling with the shipyard crane order from Cochin Port,” stated Shyam Pathak, sales director of South Asia for Port Solutions at Konecranes. 

MSC, Evergreen head scrubber-fitted fleet ranking


MSC, the world's largest container shipping company, was the "scrubber champion" for 2022, as the Swiss/Italian box line ended the year with the largest number of scrubber-fitted vessels, according to DynaLiners report.

In particular, 216 boxships of MSC are equipped with scrubbers, translating to an overall capacity of 2,132,700 TEUs. Additionally, one of Taiwan's major ocean carriers, Evergreen has achieved the biggest scrubber-fitted fleet as a proportion of its total fleet. Evergreen's 150 scrubber-fitted vessels constitute 72% of the company's overall fleet.

On the other hand, DynaLiners notes that Maersk and CMA CGM reported quite low scores, as the two container giants have been focussing on using alternative fuels. Overall, at the end of last year, the ten carriers with the biggest scrubber-fitted fleets in terms of the number of vessels operated 778 ships, in which this exhaust gas cleaning device was installed. This was equivalent to 23% of their total number of ships, while by capacity this was 7.98 million TEUs representing 35% of their total box capacity.


Hapag-Lloyd changes rotation of India Gulf Service 1


Hapag-Lloyd has announced an update on the India Gulf 1 (IG1) service port rotation replacing the call at Bahrain with a call at the port of Jubail in Saudi Arabia.

The new rotation of the weekly service will be Jebel Ali (UAE) - Karachi (Pakistan) - Mundra (India) - Sohar (Oman) – Jebel Ali - Shuaiba (Kuwait) – Umm Qasar (Iraq) - Jubail (Saudi Arabia) – Jebel Ali.

Three container ships with an average carrying capacity of 2,400 TEUs will be deployed on the service with the first vessel sailing under the updated rotation being the 3,534 TEU Northern Dexterity with an estimated time of arrival (ETA) on 12 February.

Nigerian president opens Lekki Port, largest port in the country


President of Nigeria Muhammadu Buhari officially inaugurated the Lekki Deep Sea Port in Itoke village, Ibeju-Lekki, Lagos, on 23 January, while observing the offloading of the CMA CGM Mozart at the port's quay. 

This US$1.5 billion project is a joint venture between the Federal Government of Nigeria, through the Nigerian Ports Authority, the Lagos State Government, the Tolarams Group (owner of the Lagos Free Zone), and China Harbour Engineering Company.

In Lagos, the country's president also inaugurated the Imota Rice Mill, conceptualised and completed by Governor Babajide Sanwo-Olu of Lagos State as well as the Bestaf Lubricant at MRS Holdings Company Limited. The 200m litre lubricant plant, which covers the whole value chain of lubricants, is the first of its kind in West Africa, according to a statement.

Second CMA CGM vessel faces machinery issues in seven days

CMA CGM Veracruz / Source: VesselFinder

The 3,426 TEU container ship CMA CGM Veracruz became disabled and adrift south of New Orleans in the United States on 20 January, according to a recent report from marine and transit claims consultancy WK Webster.

"It is possible that General Average/Salvage and associated recovery issues may arise as a result of this casualty," said WK Webster.   


Greek shipping data and real-time information provider, MarineTraffic reports that the navigational status of CMA CGM Veracruz is "Underway using Engine" and that the ship is currently located at the area of the Gulf of Mexico.

The vessel was sailing from the port of Kingston in Jamaica to New Orleans and it is reported that it departed the port of New Orleans to arrive at Houston on 25 January.

The 2010-built boxship is owned by the Singapore-headquartered shipping company CNC Line.  This is the second machinery failure incident of a boxship operated by the French ocean carrier in January, as earlier in the month CMA CGM Barracuda ran aground in the Netherlands.

APM Terminals Moín welcomes 4,000th vessel

 


Moín Container Terminal (TCM) in Costa Rica welcomed its 4,000th vessel on 13 January after approximately four years since its inauguration in 2019.

The Limón-Moín Port complex can accommodate ships with greater draught, up to 8,500 TEUs, thanks to infrastructure improvements that have been made during the last three years.

Victor Konen, commercial director of APM Terminals Moín, stated that these improvements have enabled APM Terminals Moín to accommodate new services. "For example, a trend we’re currently seeing is services that connect Ecuador, Peru, (passing the Panama Canal), Costa Rica and Europe (both to Northern Europe and the Mediterranean)," he pointed out.

Meanwhile, a commemorative plaque was presented to the captain of the 2,500 TEU boxship Margarete Schulte, which arrived from Manzanillo, Panama, and continued to Cork, Ireland, with a primary cargo of pineapples and bananas.

HR Lines acquires two more ships to operate on intra-Asia routes

HR Sahare / Source: VesselFinder.

HR Lines, Bangladesh’s lone flag carrier container vessel operator, has acquired two more boxships and will soon deploy them between Chittagong and the transshipment ports like Colombo in Sri Lanka, Singapore, and Port Klang in Malaysia.

The two new vessels, HR Turag (1,100 TEUs) and HR Balu (1,700 TEUs), brought the total number of container vessels owned by the operator to eight, having a combined total capacity of 11,840 TEUs.

Of the existing eight ships of the operator, four are deployed in the Chittagong-Colombo route having a twice-weekly frequency.  Two other ships are operating on the Chittagong - Singapore - Port Klang - Chittagong route having weekly service.

From February, the eight HR Lines vessels will have a total of 16 sailings a month into and out of Chittagong which is the highest number of frequencies of any operator have service in the major Bangladeshi port.

“We plan to acquire more ships during the course of this year and this will facilitate further enhancement and upgradation of our feeder services connecting Chittagong port with major transshipment hubs of Colombo, Singapore and Port Klang,” said Raimah Chowdhury, managing director of HR Lines. “Our immediate focus is to deploy over 50% of the total trade tonnage between Chittagong and each of the hubs,” she pointed out.

Hamdan Hossain Chowdhury, managing director of Karnaphuli Ltd, the parent organisation of the operator, said the company started its journey 30 months back with two ships with a total focus on schedule integrity and grown capacities on a constant and regular basis.

“This is very much in harmony with our aspirations to be the premier feeder operator in the region, proudly flying the Bangladesh flag across the oceans,” he commented.

::                   Air Cargo News                ::

Boeing bids farewell to an icon, delivers last 747 jumbo jet


Boeing bids farewell to an icon on Tuesday: It’s delivering its final 747 jumbo jet.

Since its first flight in 1969, the giant yet graceful 747 has served as a cargo plane, a commercial aircraft capable of carrying nearly 500 passengers, a transport for NASA’s space shuttles, and the Air Force One presidential aircraft. It revolutionized travel, connecting international cities that had never before had direct routes and helping democratize passenger flight.

But over the past 15 years, Boeing and its European rival Airbus have introduced more profitable and fuel-efficient wide-body planes, with only two engines to maintain instead of the 747′s four. The final plane is the 1,574th built by Boeing in the Puget Sound region of Washington state.

A big crowd of current and former Boeing workers is expected for the final send-off. The last one is being delivered to cargo carrier Atlas Air.

“If you love this business, you’ve been dreading this moment,” said longtime aviation analyst Richard Aboulafia. “Nobody wants a four-engine airliner anymore, but that doesn’t erase the tremendous contribution the aircraft made to the development of the industry or its remarkable legacy.”

Boeing set out to build the 747 after losing a contract for a huge military transport, the C-5A. The idea was to take advantage of the new engines developed for transport — high-bypass turbofan engines, which burned less fuel by passing air around the engine core, enabling a farther flight range — and to use them for a newly imagined civilian aircraft.

It took more than 50,000 Boeing workers less than 16 months to churn out the first 747 — a Herculean effort that earned them the nickname “The Incredibles.” The jumbo jet’s production required the construction of a massive factory in Everett, north of Seattle — the world’s largest building by volume.

The plane’s fuselage was 225 feet (68.5 meters) long and the tail stood as tall as a six-story building. The plane’s design included a second deck extending from the cockpit back over the first third of the plane, giving it a distinctive hump and inspiring a nickname, the Whale. More romantically, the 747 became known as the Queen of the Skies.

Some airlines turned the second deck into a first-class cocktail lounge, while even the lower deck sometimes featured lounges or even a piano bar.

“It was the first big carrier, the first widebody, so it set a new standard for airlines to figure out what to do with it, and how to fill it,” said Guillaume de Syon, a history professor at Pennsylvania’s Albright College who specializes in aviation and mobility. “It became the essence of mass air travel: You couldn’t fill it with people paying full price, so you need to lower prices to get people onboard. It contributed to what happened in the late 1970s with the deregulation of air travel.”

The first 747 entered service in 1970 on Pan Am’s New York-London route, and its timing was terrible, Aboulafia said. It debuted shortly before the oil crisis of 1973, amid a recession that saw Boeing’s employment fall from 100,800 employees in 1967 to a low of 38,690 in April 1971. The “Boeing bust” was infamously marked by a billboard near the Seattle-Tacoma International Airport that read, “Will the last person leaving SEATTLE -- Turn out the lights.”

An updated model — the 747-400 series — arrived in the late 1980s and had much better timing, coinciding with the Asian economic boom of the early 1990s, Aboulafia said. He recalled taking a Cathay Pacific 747 from Los Angeles to Hong Kong as a twentysomething backpacker in 1991.

“Even people like me could go see Asia,” Aboulafia said. “Before, you had to stop for fuel in Alaska or Hawaii and it cost a lot more. This was a straight shot — and reasonably priced.”

Delta was the last U.S. airline to use the 747 for passenger flights, which ended in 2017, although some other international carriers continue to fly it, including the German airline Lufthansa.

Atlas Air ordered four 747-8 freighters early last year, with the final one leaving the factory Tuesday.

Boeing’s roots are in the Seattle area, and it has assembly plants in Washington state and South Carolina. The company announced in May that it would move its headquarters from Chicago to Arlington, Virginia, putting its executives closer to key federal government officials and the Federal Aviation Administration, which certifies Boeing passenger and cargo planes.

Boeing’s relationship with the FAA has been strained since deadly crashes of its best-selling plane, the 737 Max, in 2018 and 2019. The FAA took nearly two years — far longer than Boeing expected — to approve design changes and allow the plane back in the air.

Adios, 747!

 

Boeing to open its second largest campus near Devanahalli



 By the end of this year, Boeing India will open its second-largest campus at Aerospace Park in Devanahalli. This facility will be its largest outside its headquarters in Virginia.

The company on Monday said it has invested over $200 million to build the campus on 43 acres of land on the outskirts of the city.

The new facility will house various labs, testing infrastructure and part of R&D operations. Aarti Singh, Senior Director, IT and DA and CIO Boeing India said most engineers employed by the plane maker will continue to work from Boeing India Engineering &  Technology Centre at Bagmane Tech Park in Bengaluru.

Boeing’s India operations include field service offices in Mumbai, Hindan, Rajali and New Delhi. Boeing India has over 4,000 employees.

Carrier Emirates test flies Boeing 777 on sustainable fuel

 


Long-haul carrier Emirates successfully flew a Boeing 777 on a test flight Monday with one engine entirely powered by so-called sustainable aviation fuel.

This comes as carriers worldwide try to lessen their carbon footprint.

Flight No.EK2646 flew for just under an hour over the coastline of the United Arab Emirates, after taking off from Dubai International Airport, the world's busiest for international travel, and heading out into the Persian Gulf before circling back to land.

The fuel powered one of Boeing's two General Electric Co.engines, with the other running on conventional jet fuel for safety.

"This flight is a milestone moment for Emirates and a positive step for our industry as we work collectively to address one of our biggest challenges - reducing our carbon footprint," Adel al-Redha, Emirates' chief operation officer, said in a statement.

Emirates, a state-owned airline under Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, described the sustainable fuel as a blend "that mirrored the qualities of jet fuel." It included fuel from Neste, a Finnish firm, and Virent, a Madison, Wisconsin-based company.

Virent describes itself as using plant-based sugars to make the compounds needed for sustainable jet fuel, while Neste's fuel comes from vegetable oils and animal fats. Those fuels reduce the release of heat-trapping carbon dioxide typically burned off by engines in flight.

Aviation releases only one-sixth the amount of carbon dioxide produced by cars and trucks, according to World Resources Institute, a nonprofit research group based in Washington. However, aeroplanes are used by far fewer people per day, meaning aviation is a higher per-capita source of greenhouse-gas emissions.

Aeroplane and engine manufacturers have been designing more efficient models, in part to help keep down costs of jet fuel, one of the biggest expenses airlines face.

Emirates, for instance, used over 5.7 tons of jet fuel last year alone, costing it USD 3.7 billion out of its USD 17 billion in annual expenses.

But analysts suggest sustainable fuels can be three times or more the cost of jet fuel, likely putting ticket prices even higher as aviation restarts following the lockdowns during the coronavirus pandemic. It wasn't immediately clear how much the fuel used in the Emirates' test on Monday cost per barrel.

Jet fuel cost on average USD 146 per barrel at the end of last week, according to S&P Global Platts.

The UAE, a major oil producer and OPEC member, is to host the next United Nations climate negotiations, or COP28, beginning in November.

Already, the seven sheikhdom federation has come under fire from activists for nominating the CEO of Abu Dhabi's state oil company to lead the UN negotiations known as the Conference of the Parties, where COP gets its name.

 

National Air Cargo to use 2 B747-400F to carry oversize cargo



National Air Cargo is opening business avenues for oversize cargo with the addition of its first freighter and is in discussions with Airbus about renting the ultra large Beluga transporter that can carry tanks, yachts, satellites and electric transformers. Orlando, Florida-based subsidiary National Airlines next month will began utilizing two factory-built Boeing 747-400 cargo jets, increasing the carrier’s fleet to 10 aircraft – including two for passenger charter.

The newly purchased assets have a nose cone that flips open for ramp-loading of long, bulky items such as helicopters and trucks that can’t fit through a traditional side cargo door. The six other 747-400s in National’s fleet do not have nose-loading capability, said reports.

Meanwhile, the logistics side of the company is exploring options for chartering the Beluga mega-freighter that Airbus recently made available to companies with special shipping requirements, said an official in the reports.

Middle East carriers rank among the world’s top 10 safest airlines



The Middle East’s leading carriers EmiratesQatar Airways, and Etihad Airways ranked among the top 10 airlines on the Airline Ratings list for the world’s safest airlines in 2023.

The Australian flag carrier, Qantas has ranked first, outperforming all 385 international airlines reviewed for this year.

The Abu Dhabi-based Etihad Airways ranked third on the list, followed by Qatar Airways in fourth place. Meanwhile, Dubai’s flagship carrier, Emirates ranked seventh.

Top 20 Airlines

1.   Qantas

2.   Air New Zealand

3.   Etihad Airways

4.   Qatar Airways

5.   Singapore Airlines

6.   TAP Air Portugal

7.   Emirates

8.   Alaska Airlines

9.   EVA Air

10.  Virgin Australia/Atlantic

11.  Cathay Pacific Airways

12. Hawaiian Airlines

13.  SAS

14. United Airlines

15.  Lufthansa/Swiss Group

16.  Finnair

17.  British Airways

18.  KLM

19.  American Airlines

20.  Delta Air Lines

Key benchmarks

According to the platform’s Editor-in-Chief, Geoffrey Thomas, analysts monitor airlines over a five-year period, taking into consideration any major incidents over the past two years.

The rating also considers audits from governing bodies, fleet age, analysis of pilot training, and compliance with COVID-19 protocols.

‘India needs widebody freighters covering Europe & US’


Tushar Jani, Group Chairman, Cargo Service Center shares his expectations from the upcoming budget 2023-2024, and says, “I think the first thing itself, is the Prime Minister declaring National Logistics Policy and with Gati Shakti Program, it is very clear that the government is focusing on logistics. In fact the world is focusing on the supply chain and India cannot be in isolation.

With the world supply chain now taking the center stage, India is going to be a global supplier for so many things. For example iPhone, now its third factory coming in, and Pharma, which is world’s generic drug, 20% is supplied by India. We are a world pharmacy and in that respect, I think we are a sunrise industry. India is probably the only country which is growing above 6% in GDP in time to come.

That itself is good news and that will need an efficient, and resilient logistic supply chain. Having said that, it needs a lot of support. Just to start with GST, which is now put in for 18% on the air freight and the argument from the government is that the stakeholders can claim reimbursement later. My point is it should be rationalized and should be a lower percentage so at least the cash flow is not impacted for exporter importer as well as for the forwarding and logistic company.

I think the government should take that first step. The second step is, of course, the very old demand of the aviation turbine fuel which is still very high and it should be rationalized that will help bring more air freight operators in civil aviation in terms of air freight airline to come in.

Third is the conductive policy on e-commerce cross-border logistics which is going to be huge in the coming years. India has not even touched little bit of global e-commerce and India has a big potential for global e-commerce both inward and outward. So the government should set up the correct processes, and make the process flow easy as e-commerce cross borders will help a lot of MSMEs, lot of self-propelled entrepreneurs to come up and reach the global market. This is the time India should take centre stage.

So I always say it’s time for India is not what we will get but what we are asking to get. So for cross border eCommerce, the government must give a lot of attention, set up an expert group, figure out and build infrastructure, build processes, put tech structure proper, and keep custom procedures very simple so we can grow in that segment.

And last, of course, the current EXIM process, if the passenger comes to the airport say for 2-3 hours why cargo should be at the airport for more than 38 40 hours. So we must have those processes conducive to allowing cargo to go fast which will improve throughput which will include our export import. Our cost will be rationalized and last very important country needs a widebody freighter airline going from India into Europe and US.

The time has come and government must encourage private enterprises to come forward and do it. These are my simple conclusion for this budget.”

Quikjet Cargo launches maiden freighter service from GHIAL

 


Quikjet Cargo Airlines has recently launched its maiden freighter service from GMR Hyderabad International Airport. Quikjet will be operating with Boeing 737-800F freighter aircraft based in Hyderabad with daily freighter services to Delhi and Bangalore. The freighter will carry air freight and express cargo across their network area covering Delhi, Mumbai, Hyderabad and Bangalore.

The Quikjet freighter will depart to Delhi daily from HYD at 00.30hrs and arrive from Bangalore to Hyderabad at 08. 50hrs every day. Currently, Quikjet has two aircrafts B737-800F with a capacity of 22 metric tons, both based at HYD. This new Cargo airline will boost the state’s economy and empower businesses with increased cargo connectivity & quicker reach for E-commerce.


Speaking on the Quikjet launch, Mr Pradeep Panicker, CEO-GHIAL, said, “We are delighted to support Quikjet operations and glad that this is another Cargo servicing addition at our airport. Quikjet services is all set to offer increased cargo connectivity from Hyderabad to Southern India. The Quikjet services from our airport reiterate the growing prominence of Hyderabad for cargo. Over the years, GMR Hyderabad Airport has been building world-class capabilities to ensure seamless and faster cargo service globally.”


GMR Hyderabad Airport Cargo handles pharma, perishable, engineering, automobile, aerospace products, large machinery, Hazardous Materials (HAZMAT) and Dangerous Goods (DG). Apart from all major cargo hubs in India, international destinations like Frankfurt, Istanbul, Dubai, Doha and Hong Kong are also well connected to the Hyderabad International Airport.

 

Amazon launches freighter service in India


Amazon India has launched Amazon Air, making it the first e-commerce company in the country to have a dedicated air cargo network . Amazon Air will utilise the complete cargo capacity of a Boeing 737-800 aircraft, operated by Quikjet Cargo Airlines, a joint venture between AFL and the Ireland-based ASL Aviation Group.

The Amazon-branded aircraft will transport customer shipments to cities such as Hyderabad, Bengaluru, Delhi, and Mumbai. “We’re thrilled to launch Amazon Air in India to ensure we can provide our growing customer base with great selection, low prices, and faster deliveries,” said Sarah Rhoads, Vice President, Amazon Global Air.

The announcement reinforces Amazon India’s commitment to continue building capacity and will further enhance its transportation network.

 

I reckon you have enjoyed reading the above useful information.

Have a nice day.

Thanks & kind regards

ROBERT SANDS, Joint Managing Director

Jupiter Sea & Air Services Pvt Ltd

Casa Blanca, 3rd Floor

11, Casa Major Road, Egmore

Chennai – 600 008. India.

GST Number : 33AAACJ2686E1ZS.

Tel : + 91 44 2819 0171 / 3734 / 4041

Fax : + 91 44 2819 0735

Mobile : + 91 98407 85202

E-mail : robert.sands@jupiterseaair.co.in

Website : www.jupiterseaair.com

Branches  : Chennai, Bangalore, Mumbai, Coimbatore, Tirupur and Tuticorin.

Associate Offices : New Delhi, Kolkatta, Cochin & Hyderabad.

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