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 April 26, 2023.
:: Today’s Exchange Rates ::
Source : The Economic Times.
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
81.92 |
0.00 |
0.00 |
81.87 |
81.92 |
81.8575- 81.97 |
|
|
1.0976 |
-0.007 |
-0.633711 |
1.1046 |
1.1046 |
1.0969- 1.098 |
|
|
102.1369 |
0.304298 |
0.298822 |
102.2475 |
101.8326 |
102.0726- 102.2998 |
|
|
90.437 |
0.314194 |
0.348628 |
90.5108 |
90.1228 |
90.3791- 90.6124 |
|
|
133.607 |
-0.633011 |
-0.471552 |
134.24 |
134.24 |
133.442- 133.90 |
|
|
1.2414 |
-0.0072 |
-0.576646 |
1.2486 |
1.2486 |
1.2403- 1.2419 |
|
|
101.379 |
0.030998 |
0.030586 |
101.257 |
101.348 |
101.199- 101.38 |
|
|
0.6105 |
0.0015 |
0.246297 |
0.6105 |
0.609 |
0.6091- 0.6109 |
: Sea Cargo News ::
Sonowal inaugurates infra projects
worth Rs 148 crore to augment capacity of Chennai, Kamarajar Ports
Union Minister of Ports, Shipping and Waterways and Ayush,
Sarbananda Sonowal on Sunday inaugurated major infrastructure projects in
Chennai, Tamil Nadu to augment the capacity of Chennai and Kamarajar ports in
the state.
The
projects worth more than Rs 148 crore aim at boosting the capacity of Chennai
and Kamarajar ports.
The
Union Minister also underlined the ongoing discussion between India and Russia
to open up the ‘Chennai-Vladivostok Maritime Corridor’ in order to bolster the
maritime trade between the two countries. A bunker berth at Bharathi Dock, a
Goods Shed yard at Jolarpet and a 40 KLD (Kilo Litres per day) sewage treatment
plant were inaugurated at Chennai port by Sarbananda Sonowal.
The
total cost of these projects is more than Rs 55 crore. The 182 m Bunker berth
Project, funded under the visionary Sagarmala scheme of the Ministry of Ports,
Shipping and Waterways (MoPSW), is worth Rs 50.25 crore. This will enable a
capacity addition of 1 MMTPA (Million Metric Tonnes Per Annum) and will also
handle Bunker Tankers up to 10,000 DWT.
India in talks with Russia to open up Chennai-Vladivostok Maritime Corridor project: Sarabananda Sonowal
India is in discussion with Russia to inaugurate the
Chennai-Vladivostok Maritime Corridor aimed at boosting maritime ties between
the two countries, Union Minister Sarabananda Sonowal said on Sunday.
The minister of ports, shipping and waterways, who was here to
review the performance of Chennai Port and Kamarajar Port, inaugurated a slew
of projects worth Rs 148 crore. India was in talks with Russia to open the
Chennai-Vladivostok Maritime Corridor, he said at the event.
The discussion between the two countries was aimed at bolstering
maritime trade, he said. "Under the leadership of Prime Minister Narendra
Modi, India affirms its commitment to rejuvenate its trade and investment
potential to propel the growth of India," he said.
"This corridor will serve this purpose, acting as a conduit
of growth and investment cooperation between two historic cities with rich
marine history -- Chennai and Vladivostok -- of the two countries," he
said. Sonowal later inaugurated three new projects worth Rs 56 crore at Chennai
Port and another project at Kamarajar Port worth Rs 92 crore.
India's major ports handled highest
ever cargo at 795 mn tonne in FY23
India's major ports handled the highest ever cargo at 795 million
tonne in 2022-23, Ministry of Ports, Shipping and Waterways Secretary Sudhansh
Pant said on Friday.
Pant further said that with transactions worth about Rs 5,000
crore, the shipping ministry has surpassed its FY23 asset monetisation target
of about Rs 3,700 crore. He also said that next week, Ports, Shipping and
Waterways Minister Sarbananda Sonowal will launch 'Green Port' guidelines to
make India's ports green.
"Our major ports have handled the highest ever cargo in the
history of the ports at 795 million metric tonne. This is 10 per cent higher
than the previous year's cargo handled," he told PTI. India has 12 major
ports -- Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai,
Ennore (Kamarajar), Tuticorin (V O Chidambaranar), Visakhapatnam, Paradip and
Kolkata (including Haldia) and Jawaharlal Nehru Port.
"Four or five of the major ports, including Syama Prasad
Mookerjee Port (Kolkata), Deendayal (Kandla), Jawaharlal Nehru Port and Paradip
have recorded the highest ever cargo," Pant added.
Asia’s biggest ship-breaking yard at Alang in Gujarat witnessed
one of its lowest turnovers in over 12 years, with just 131 ships being beached
or grounded in FY23. In comparison, 209 ships were beached in FY22 and some 415
vessels in 2011-12, the best year for the yard.
Apart from the competition from the neighbouring countries, the
reduced orders from the steel industry – since a quality control order is in
force – are being stated as a cause. Ships beached in Alang in FY21 was 187,
202 in FY20, 219 in FY19 , 253 in FY18, 259 in FY17, 249 in FY16, 278 in FY15,
295 in FY14 and 394 in FY13.
Beaching is when a ship is laid on a tidal mudflat, and the vessel
is grounded deliberately during high tide. Breaking ops take place during the
low tide. This is a popular process in South Asia. In a representation to one
of the Ministries, the ship recyclers – through their association – said the
“cluster has come to a standstill” and is “sinking”.
On light displacement tonnage (LDT) – the weight of the ship in
its entirety, including permanent equipment like hull, machinery, etc but not
its cargo – numbers in FY23 was 11,47,481 LDT, a 70 per cent drop over FY12
(38,56,072 LDT); while on YoY basis LDT dropped 22 per cent (from 14,56,655 LDT
in FY22).
An Iranian official announced the launch of regular containerized
shipping services from the country’s southern port of Imam Khomeini to
Southeast Asian countries.
Director General of the Ports and Maritime Organization of Iran in
the southwestern province of Khuzestan told IRNA on Saturday that a direct
containerized shipping line has been launched from Imam Khomeini Port to the
Southeast Asian countries in line with efforts to achieve the objectives of
foreign trade policies adopted by the administration of President Ebrahim
Raisi. Behrouz Aghaei said the direct shipping line has been set up with the
focus on the ports of the United Arab Emirates (UAE), India and China.
He went on to say that the dispatch of containerized vessel of the
fifth generation with 5,000 TEU (Twenty-Foot Equivalent Unit) capacity to China
is aimed at increasing the accessibility of Imam Khomeini Port to the world
maritime transport network and also the international markets. Reducing the
time and cost of transporting imports and exports has been cited as the most
important purpose behind launching the direct shipping line, he said.
Nepal: Seven years since transit deal
with China, no shipment has moved
Then Prime Minister KP Sharma Oli in April 2016, paid an official visit to China where two sides signed an agreement that gives Nepal access to four Chinese seaports in Tianjin, Shenzhen, Lianyungang and Zhanjiang, and three land ports in Lanzhou, Lhasa and Shigatse for third-country imports.
The
agreement also allowed Nepal to carry out exports through six dedicated transit
points between Nepal and China, Kathmandu Post reported. The two sides had
expressed satisfaction with the conclusion of the Agreement on Transit
Transport and directed authorities to immediately start negotiations to develop
a protocol which will be an integral part of the agreement, according to the
text of the agreement signed on April 23, 2016, in Beijing.
Sri Lanka, China Merchants ink
agreement to establish South Asia’s largest logistics center
China Merchants Port Holdings, Access Engineering Company and Sri Lanka Ports Authority entered into a historic agreement yesterday (21) to establish the largest commercial and logistics center in South Asia.
China Merchants Port Holdings said it is teaming up with Sri
Lanka’s Access Engineering and Colombo port to set up logistics center as a
build operate transfer (BOT) project.
This project is implemented jointly by the public and private
sectors. The project will be fully handed over to the Sri Lanka Ports Authority
(SLPA) after 50 years. The total investment of this project is 400 million US
dollars, and this is expected to increase the confidence of investors.
China Merchants Port Holding Company will invest 70% of the money
for the projects, while the government and Access Engineering will invest 15%
each. This investment signed yesterday is the largest investment received after
Covid-19 pandemic, said Nimal Siripala de Silva, Minister of Ports, Shipping
and Aviation. Speaking at the occasion, the Minister expressed his gratitude to
the Chinese government for helping to restructure Sri Lanka’s debt.
Coffee export set to rise in next two
qtrs
India’s coffee exports, which had risen 13% on year in the Q4 quarter in value terms, are expected to go up further because of higher international prices, driving consumers to less expensive coffee.
“The higher value because of the gain in the global market has made up for the drop in volume," Ramesh Rajah, president of Coffee Exporters Association, said. Prices in the international market rose because of lower crop outlook in major producing nations like Brazil in view of torrential rainfall.
For the next two quarters, India’s coffee exports are expected to go up by 10% year-on year in value terms due to a shift to mid-premium coffee from expensive premium-quality coffee amid firm international prices, Rajah said. On Friday, the May contract of Arabica coffee on the New York exchange is being traded at 195.90 cents per pound ( ₹354.84 a kg), and the same contract of Robusta coffee is quoted at $2,442 per tonne ( ₹200.63 per kg).
Rajah forecasts Arabica coffee prices to be
around 200 cents per pound on the New York exchange, and $2,300 per tonne for
Robusta variety on the London exchange because of likely shortfall in supply in
major producing countries such as Brazil and Vietnam as El Nino weather
phenomenon are expected to disturb monsoon rainfall.
Shifting production from China is
impossible, says shipping boss
Companies are expanding production outside of China to reduce the
risk from rising geopolitical tensions, but the country’s dominance in world
trade makes cutting it out of global supply chains impossible, one of the
world’s largest container shipping groups has said.
“The scale [and] the weight of China means it is easy to
overexaggerate the impact of ‘China plus one’,” said Michael Fitzgerald, deputy
finance chief of Orient Overseas Container Line, a Hong Kong-headquartered
group belonging to Chinese state-owned Cosco. “It’s happening.
It’s real,” he told the Financial Times this month, referring to
the strategy of companies shifting or expanding production outside of China
amid tensions between Beijing and Washington. “But don’t forget the absolute
scale of China is so huge that even if Vietnam is growing by a bigger number
[and] if China’s growing by a smaller number, that’s still a huge proportion of
the supply chain.”
::
Air Cargo News ::
Antonov flies its largest
single piece of cargo
Source:
Antonov AirlinesAntonov Airlines has transported a power supply skid on board
one of its AN-124 aircraft – the largest single piece of cargo transported by
the airline.
The power supply skid was flown from Tekirdag, Turkey to
Hamburg, Germany on board of one of the airline’s AN-124-100-150 aircraft in
conjunction with project management firm Rolf Riedl.
The prefabricated Siemens Energy sub-station used as a power
distribution centre was required for Germany’s first LNG terminal to provide
energy to German homes.
The “E-house” was transported in the container measuring 19 m in
length, 4.2 m in width and 4 m in height.
To load the oversized container a loading ramp developed by the
in-house Antonov team was used in conjunction with external cranes.
Andrii Nazarenko, flight manager, Antonov Airlines, said: “The
major task was a precise installation of low-profile loading ramp required
especially for this mission.
Thanks to a professional approach, the Antonov team ensured safe
loading and unloading at airports under the supervision of a Siemens Energy
representative.”
The floating LNG terminal is scheduled to go into operation in
Elbe port.
CMA CGM Air Cargo launches new Paris-
Guangzhou air cargo route
Source: CMA CGMCMA CGM Air Cargo has carried
out the maiden flight for a new air cargo route between Paris, France and
Guangzhou, China.
On Tuesday April 11, a CMA CGM
Air Cargo freighter flew from Paris Charles de Gaulle Airport to Guangzhou
Baiyun International Airport, according to Guangdong Airport Authority’s
logistics company, said China’s state press agency Xinhua.
The maiden flight took off from Paris at 10pm on Tuesday local time and landed at Baiyun Airport at 2am on Thursday Beijing time. It left the airport at 5am on the same day, fully loaded with 58 tonnes of cargo bound for Paris.
The cargo transported through
the route will mainly include e-commerce goods, electronics and fresh
cold-chain goods.
The route is scheduled to
operate three flights per week and is expected to bring more than 20,000 tonnes
of international cargo throughput growth to Baiyun Airport annually.
The aircraft used has not been
specified. CMA CGM Air Cargo owns a fleet of six freighters – two Boeing B777Fs
and four A330-200s. However, correct as of December, four of its aircraft
fly for other carriers.
CMA CGM Air Cargo, owned by
shipping giant CMA CGM, began flying an Airbus A330-200 freighter four times a
week from its Paris hub
to Shanghai Pudong International Airport on
February 17.
Currently, Baiyun airport is
undergoing expansion, which is estimated to increase its total cargo terminal
area to more than 1m sq m, with a terminal cargo handling capacity of 6m tonnes
in 2025.
FedEx pilot strike woes continue
Photo: FedExFedEx could soon be under
pressure to keep its freighters in the air with pilots considering strike
action.
FedEx Express pilots,
represented by the Air Line Pilots Association, Int’l (ALPA), have announced
that the voting window for a strike authorisation ballot will open on April 18.
“Mediated negotiations for a
new employment contract for the pilots have failed to produce an
industry-leading agreement,” stated the union in a press release on April 14.
In February, the FedEx Express
Master Executive Council (MEC) of the Air Line Pilots Association, Int’l (ALPA)
unanimously approved a resolution setting the stage for a strike
authorisation vote.
The pilots’ contract became
amendable in November 2021, with negotiations beginning in May 2021.
“At a time when our pilots
should be joining our company in celebration of its 50th anniversary, we are
instead forced to apply additional pressure to management in an effort to
secure a new contract,” said Chris Norman, chair of the FedEx ALPA MEC.
“We do not make a decision like
this lightly, but we intend to send a strong and unified message to management
that our pilots are willing to go the distance to achieve the contract we have
earned.”
ALPA and FedEx have been in
mediated talks under the US Railway Labor Act (RLA) since October 2022.
Approval of the ballot does not
mean a strike is inevitable. Before a strike can take place, the National
Mediation Board must first decide that additional mediation efforts would not
be productive and offer the parties an opportunity to arbitrate the contract
dispute.
If either side declines the
arbitration, both parties enter a 30-day “cooling off” period, after which the
parties can engage in self-help — a strike by the union or a lockout by
management.
The company is also focussed on
as recently been focusing on cutting costs by scaling back and consolidating operating companies
Aero Africa handles first
Nairobi-Muscat SalamAir freighter
Photo: Aero Africa
Air cargo management group Aero Africa has successfully handled the first SalamAir direct freighter from Nairobi, Kenya to Muscat, Oman since it was appointed as the airline’s cargo GSSA for Kenya.
The flight took place on April 16 using an Airbus A321-200 passenger to freighter (P2F) conversion aircraft.
“This direct freighter service has been welcomed with excitement by the flower and meat exporters to Oman, thus boosting business between the two countries,” said Aero Africa.
“This successful launch is
indeed a testament that Aero Africa Group is dedicated to offering African GSSA
solutions and neutral value-added services to the global logistics and aviation
community,” said Jade da Costa, chief commercial officer.
Aero Africa was last month appointed cargo General Sales & Services Agent (GSSA) for
Salam Air in Kenya.
Oman-based low-cost carrier SalamAir launched a dedicated air cargo service and
inducted its first freighter aircraft – the A321P2F – in October last year.
Aero Africa is an air cargo
management group dedicated to providing African logistic solutions and neutral
value-added services to the global logistics and aviation community.
FAA looks to Merlin for
autonomous cargo flights
Photo:
Business Wire
The US Federal Aviation Administration (FAA) has awarded Merlin,
a developer of autonomous flight technology for fixed-wing aircraft, a $1m
contract to demonstrate its highly automated flight control system.
Merlin has developed an integrated hardware and software system
known as the Merlin Pilot.
The FAA demonstration will see the system fly an aircraft in conjunction with a
safety pilot monitoring the experimental flight control system.
Merlin Pilot will be the first autonomous piloting system to be
integrated into the US’s National Airspace System (NAS).
Merlin will be working with the FAA-designated University of
Alaska Fairbanks unmanned aircraft systems (UAS) test site and Everts Air, a
Fairbanks, Alaska-based carrier.
Flight trials will take place along three test routes, all
originating at the UAS test site but connecting out to separately to Fort
Yukon, Galena, Prudhoe Bay, Huslia and Tanana.
They are due to begin in the second quarter of this year. The aim is to show the feasibility of
operating autonomous flights to currently under-served, rural areas of Alaska,
with the aim of boosting the last-mile supply chains in these areas and cutting
the safety risk for pilots.
“Alaska’s terrain and inclement weather can challenge the most
experienced pilots,” observed Cathy Cahill, director of the Alaska Center for
Unmanned Aircraft Systems Integration (ACUASI) at the University of Alaska
Fairbanks Geophysical Institute.
“And yet remote communities rely on air cargo deliveries for
vital supplies such as milk, mail, and medicine.
“Working with Merlin on these flight trials benefits our
residents and provides data with each flight that will create not only a safer
airspace in Alaska but technology that is applicable worldwide.”
Cahill continued: “This program will help thousands of our
state’s remote residents to acquire supplies necessary to sustain life and it’s
exciting that the advent of new technologies can drive greater equity and
access across our communities.”
Matthew George, co-founder and chief executive of Merlin, added:
“The Merlin Pilot is being developed to make the skies safer and more
accessible.
“These initial flight trials are vital to maturing our in-flight
capabilities and it’s rewarding that this work will also serve a material need
in the communities of Alaska.
“To date, we have conducted hundreds of missions with our Merlin
Pilot on five aircraft types from our dedicated flight test facility in Mojave,
California.
“Alongside the FAA, and our operating partner Everts Air Cargo,
we’re thrilled that the Merlin Pilot will soon be learning in a real world,
complex environment.”
Last year, Merlin announced a $105m Series B financing with
funding from the United States Air Force, the New Zealand Civil Aviation
Authority and the FAA (a Series B financing is a second round of funding for a
business).
The finance thus provided allowed Merlin to continue developing
Merlin Pilot system.
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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