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 May 31, 2023.
:: Today’s Exchange Rates ::
Source : The Economic Times.
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
82.71 |
0.07 |
0.084704 |
82.65 |
82.64 |
82.60- 82.7975 |
|
|
1.073 |
0.0022 |
0.205455 |
1.0708 |
1.0708 |
1.0673- 1.0736 |
|
|
102.1497 |
0.138794 |
0.136058 |
102.096 |
102.0109 |
102.0638- 102.1497 |
|
|
88.5085 |
-0.043503 |
-0.049127 |
88.5244 |
88.552 |
88.4782- 88.5475 |
|
|
140.168 |
-0.281998 |
-0.200782 |
140.45 |
140.45 |
139.966- 140.932 |
|
|
1.2423 |
0.0068 |
0.550389 |
1.2355 |
1.2355 |
1.2328- 1.243 |
|
|
104.279 |
0.072998 |
0.070052 |
104.298 |
104.206 |
104.094- 104.339 |
|
|
0.589 |
-0.0002 |
-0.03395 |
0.5897 |
0.5892 |
0.589- 0.5898 |
:: Sea Cargo News ::
Eighth cruise vessel calls at New Mangalore Port
Carrying
550 passengers and 400 crew members, the eighth cruise vessel and last of the
current season, 'Nautica,' called at New Mangalore Port (NMP), port officials
said on Tuesday. The Marshall Islands-flagged ship arrived at the port at 8.30
am on Monday and berthed alongside berth No. 4. The vessel previously called at
Cochin Port and left from NMP to Mormugao Port at 4.30 pm, a release from the
port said.
The overall length of the ship is 180.05 metres with a carrying capacity of 30,277 Gross Tonnage and has a draft of six metres. The cruise passengers were given traditional welcome while disembarking from the ship.
Various arrangements
were made for a pleasant experience of the cruise passengers including buses
and taxis for touring various locations in and around the city. The passengers
visited various tourist destinations in the city including temples.
Souvenirs were
presented while they were embarking their ship in memory of their visit to
Mangaluru. Post pandemic, the cruise season reopened in November 2023 after a
gap of three years. The eight ships which visited the port in this season had
3,602 passengers.
The Port on an average
received 25 cruise ships in a year with an average passenger inflow of 27,000
approximately. For the coming cruise season, already 13 ships have confirmed
their visit and the numbers are expected to increase as the cruise tourism
industry is seeing steadfast growth in passenger registrations after the
pandemic, the release said.
Adani Group exploring $3-billion investment in Vietnam
Vietnam
government on Wednesday said Adani Group is exploring $3-billion investment in
the country's seaport ecosystem and wind and solar energy projects.
"Adani Group wants
to develop a seaport ecosystem as well as wind and solar energy projects in Vietnam,
with a combined investment of $3 billion," the Vietnamese government said
in a statement. Vietnamese Prime Minister Pham Minh Chinh received Karan Adani,
Chief Executive Officer of Adani Ports and Special Economic Zons Ltd (APSEZ),
in Hanoi on Wednesday.
Chinh briefed Karan
Adani on Vietnam’s development orientations focused on three strategic
breakthroughs, namely perfecting institutions, developing human resources and
building infrastructure. To realise the goal, he said Vietnam mobilises and
effectively uses all resources both domestically and internationally, for
development.
Vietnam creates the
best possible conditions for foreign businesses, including those from India, to
invest in strategic infrastructure such as transport, energy, digital and climate
change infrastructure, in the country, he stressed.
He noted that digital
transformation to build a digital economy and digital society is an
irreversible trend of the world at present and Vietnam is not an
exception. He expressed his hope that
Adani Group would expand its investment strongly in this field in Vietnam.
Karan Advani said Adani
Group is the leading economic group in India operating in multiple field such
as seaport, transportation, logistics, energy and digital technology in more
than 50 countries around the world.
Following the recent
fact-finding tour, he said the conglomerate has decided to pour long term
investments in Vietnam, not only in seaports and logistics, but also in energy
and digital technology. Adani Group
wishes to build a green seaport ecosystem and invest in wind and solar power
plants in Vietname, with a total capital of about US$ 3 Billion, said Karan
Adani.
Two more ferry services launched in Kanyakumari
A 45-minute to one-hour
ride into the sea could be the next item in the itinerary while visiting
Kanyakumari as state minister for public works department E V Velu launched two
ferry services - Thiruvalluvar and Thamirabarani - from the Poompuhar Shipping Corporation’s
jetty on Wednesday.
These will be
additional boat services to the existing ferry service from the jetty to
Vivekananda Rock and Thiruvalluvar statue. The boats would leave the jetty and
sail via Chinnamuttom to the Vattakottai area in the sea from where the
Vattakottai Fort on the land could be spotted.
The 18th century fort
was constructed by Travancore kings and was remodified as a naval defence fort
by Dutch captain Eustachius De Lennoy who was at the service of the kingdom.
It would be a round
about trip to the Vattakottai area and back to the jetty. The boat ride would
be for distance of 6.5 nautical miles and subject to the weather conditions,
according to officials.
The two boats were
procured by the tourism department for the cost of Rs 8.24 crore and were
handed over to Poompuhar Shipping Corporation. With these two boats, the number
of boats at the jetty increases to five with three boats catering to the jetty
and Vivekananda Rock and Thiruvalluvar statue.
India allows broken rice exports to meet other nations’
food security needs
The government on Wednesday
allowed the exports of broken rice on the basis of permission given by the
government for shipments to other countries for meeting their food security
needs, though the export of broken rice is banned in general.
“The export policy of broken
rice is prohibited, however, export will be allowed on the basis of permission
granted by the Government of India to other countries to meet their food
security needs and based on the request of their government,” the Directorate
General of Foreign Trade (DGFT) said in a notification.
India had banned the exports
of broken rice and imposed a 20% duty on exports of various grades in
September. In December last year, it allowed the exports of organic non-Basmati
rice including organic non-Basmati broken rice. China is the largest importer
of Indian broken rice at $418.29 million in FY23 followed by Senegal, Indonesia
and Vietnam.
Global production of shipping containers piles up at major ports because of lack of demand for goods
Global production of shipping
containers has fallen significantly as demand for goods sank following the
easing of pandemic restrictions, leaving the corrugated steel boxes piled up at
major ports.
Figures provided to the
Financial Times by Drewry, a maritime research consultancy, show that
production of 20-foot equivalent units — the industry’s standard size for a
container — fell 71 per cent from 1.06mn to 306,000 between the first quarter
of 2022 and the same period this year.
The decline marks a sharp
reversal from two years ago, when container manufacturing boomed in response to
a pandemic-induced surge in demand for physical goods which led to a shortage
of the rectangular boxes.
However, demand for exports
has waned since restrictions eased and economies have reopened, leaving the
shipping industry with a surplus of containers that threatens to overwhelm
ports in China, where up to 95 per cent of the world’s boxes are produced.
AP Møller-Maersk, one of the
world’s largest shipping conglomerates, has said it is halting production of
dry containers until at least 2024, though it said it might resume building
20ft boxes sooner than its larger 40ft versions as the demand for the former
appeared to be more resilient.
Container shipping giant takes big loss as spot rates remain weak
Israeli container shipping
giant Zim reported first quarter revenue of $1.34 billion, a 63% decline from
last year. The company’s stock sank 16% after earnings were revealed Monday.
Zim is the 10th largest ocean
carrier in the world. “Following a record year, Zim’s first-quarter results
reflected the significant decline in freight rates and weak demand,
particularly in the transpacific trade, that began last year,” said Eli
Glickman, CEO.
“While the near-term outlook
for container shipping remains challenging, the proactive steps we took during
the preceding highly lucrative market period better position us now to meet
these challenges, and we believe our differentiated strategy will ultimately
deliver sustainable value for shareholders over the long term.”
Zim reported that carrier
volume for the quarter was 769,000 TEUs, a year-over-year dip of 10%. Average
rates per TEU were also down 64% to $1,390. The company’s total cash position
decreased by $353 million for the quarter, but sit till sits at $4.25 billion,
which was stockpiled from the major gains seen over the pandemic.
ZIM starts Colibri Express in the US
ZIM Shipping Line recently
launched its ZIM Colibri Express (ZCX) Service, an independent weekly service
from South America West Coast to US East Coast, and made an inaugural call at
the Port of Guayaquil in Ecuador.
Contecon Guayaquil S.A. (CGSA)
CEO Javier Lancha de Micheo said: "In this alliance with ZIM, we are part
of a route of large and important port terminals. In addition, Ecuador is
consolidated within the routes that open the doors to its products." MV Em
Spetses is the first ZIM container vessel to arrive at CGSA, International
Container Terminal Services Inc.'s (ICTSI) Ecuadorian unit.
The ZCX Service is focused on
refrigerated cargoes from Chile, Peru, Ecuador and Colombia, with six 1,700-TEU
capacity vessels with increased reefer capacities. The vessels will call
Contecon twice a week, approximately 42 days after departing from the port of
origin.
ZCX Service will follow the
rotation: San Antonio (Chile), Callao (Peru), Guayaquil (Ecuador) – Cartagena
(Colombia) – Kingston (Jamaica) – Philadelphia – Miami, Kingston (Jamaica) –
Buenaventura (Colombia) – Guayaquil (Ecuador) – Callao (Peru) - San Antonio
(Chile).
Valemaxes to start calling at Abu Dhabi
Abu Dhabi’s AD Ports Group has
signed a memorandum of understanding (MoU) with the world’s largest producer of
iron ore and nickel, Vale, to develop a mega hub on home soil at Khalifa port
for industrial complexes that produce low-carbon products for the steelmaking
industry for both the local and seaborne markets.
The facility to be built will
allow giant valemax vessels to call in the Middle East with a handling capacity
of up to 50m tonnes of cargo per annum. Furthermore, AD Ports Group will
develop and manage conveyor infrastructure to transport iron ore and finished
products to and from Khalifa Port, and will be exploring commercial collaboration
with Vale on the marketing and sale of various bi-products of the manufacturing
process in the UAE and the wider region.
The agreement also includes a
maritime collaboration to explore opportunities related to management and
operation of very large ore carriers (VLOCs) as well as other possible avenues
of partnership. Diverse AD Ports is already a significant owner of dry bulk
tonnage, albeit not in the valemax class.
Seaspan ammonia-powered boxship design unveiled
Working with Seaspan, the
world’s largest boxship lessor, the Mærsk Mc-Kinney Møller Center for Zero
Carbon Shipping yesterday revealed the design of an ammonia-powered 15,000 teu
container vessel. The ship measures 350 m in length between perpendiculars and
53.6 m in breadth.
Its design incorporates a
dual-fuel engine that runs on very low sulphur fuel oil (VLSFO) and ammonia.
The unit sports an 11,600 cu m non-pressurised ammonia type B tank. It can run
at 16 knots and travel 12,000 nautical miles, while the extended endurance of
fuel gives it 18,500 nautical miles.
The project is connected to
the SABRE Consortium, focusing on developing and demonstrating an ammonia
supply chain in Singapore. The International Energy Agency (IEA) is projecting
ammonia will account for around 45% of the demand for marine fuels in 2050.
Last week, Mediterranean
Shipping Company (MSC), the world’s largest containerline, tapped class society
Lloyd’s Register, German engine manufacturer MAN Energy Solutions and Shanghai
Merchant Ship Design & Research Institute (SDARI) for a design for the
ammonia dual-fuel operation of a future containership.
Jeddah Islamic Port handles over 465,000 TEUs in April
According to monthly figures
issued by the Saudi Ports Authority (Mawani),
Jeddah Islamic Port handled
around 465,348 TEUs in April this year, up from 372,064 TEUs in the same month
of the previous year. Other container figures show that Saudi Arabia's busiest
port had a 22% increase in transshipments and restows from 214,686 TEUs in
April last year to 261,543 TEUs in April this year.
The cargo column at the port
increased by 19.3% from the 2022 volume of 4,409,557 tonnes to 5,261,883 tonnes
in the previous month. Key figures across major cargo categories include
128,714 tonnes of general cargo, 305,038 tonnes of dry bulk cargo, and 34,109
tonnes of liquid bulk cargo. In addition, Jeddah’s trade hub saw 324 vessels
over the course of April, a 13.29% surge over last year’s count of 286 vessels.
::
Air Cargo News ::
National Air Cargo achieves IATA CEIV certification
US cargo carrier National Air Cargo has received IATA’s Center
of Excellence for Independent Validators (CEIV) Lithium Batteries
Certification. The certification recognises the airline’s safe handling of
dangerous goods, specifically Lithium batteries during air
transportation.
“The certification validates National Air Cargo’s adherence to
the industry’s best practices and also global experience to airlift all types
of complex cargo for governments, international agencies, and industry
partners,” said National Air Cargo.
Besides regional hubs in Buffalo, New York, Orlando, Florida and
Chicago, Illinois, National
has operational hubs in Frankfurt, Amsterdam, Madrid, Dubai, Afghanistan,
Djibouti, Bahrain, Kuala Lumpur, Tokyo, Hong Kong, and Shanghai.
Its fleet includes six Boeing 747 freighters, an Airbus
A330-200F and a 757-200F. The IATA CEIV
Lithium Battery certification programme includes training, assessment and
validation of competence to carry lithium battery products safely.
Turkish Cargo joins CEIV Li-Batt programme
Turkish
Airlines’ Bilal Ekşi (seated centre) signs up for CEIV Li-BattTurkish Cargo has become the latest airline to join the IATA
CEIV Lithium Battery (CEIV Li-Batt) certification programme, which includes
training, assessment and validation of competence to carry lithium battery
products safely.
Turkish Airlines chief executive Bilal Ekşi said at the signing
ceremony: “As a global air cargo brand, we are strongly committed to
maintaining the supply chain for the lithium battery products and diligently
fulfilling our responsibilities in this regard.
“Thus, participation in the CEIV Li-batt certification
programme, which is globally accepted as one of the highest standards, is a
great source of pride to us.”
Operating with the passenger fleet of Turkish Airlines, plus 21
freighters, Turkish Cargo provides air cargo service to more than 340
destinations, 102 of which are cargo destinations, in 132 countries around the
world.
Earlier in 2023, Qatar
Cargo and handler Qatar Aviation Services gained
CEIV Li-Batt certification. Other companies to have done so in recent months
include DHL
Global Forwarding in the UK, Hong
Kong Air Cargo Terminals Ltd (Hactl) and Singapore-based
handler SATS.
Korean Air earns IATA CEIV Lithium Batteries certification
Korean Air
received IATA’s Center of Excellence for Independent Validators (CEIV) Lithium
Batteries certification. To celebrate the occasion, the airline held an event
at the Grand Hyatt Incheon on May 25, which was attended by officials from the
airline, Incheon International Airport Corporation and IATA.
Introduced in 2021, the CEIV Lithium Batteries certification establishes and
validates baseline standards to improve the level of competency and quality
management in the handling and transport of lithium battery shipments
throughout the supply chain.
Experts
conduct an in-depth evaluation of all aspects of the transportation process and
procedures based on standardized audit criteria consisting of over 240 items to
ensure that the organization meets the program’s standards.
In December 2022, the airline formed a working group with various stakeholders
in the domestic air cargo sector - from forwarders, operators to Incheon
International Airport Corporation - to prepare for the CEIV Lithium Batteries
certification. All of the stakeholders in the working group were successfully
certified in the first half of 2023.
With more than five decades of air cargo insight and knowhow, Korean Air is an
expert in rendering bespoke specialized cargo services. When transporting
lithium batteries, specific handling standards and procedures are applied
depending on the type and capacity of the battery.
When
necessary, the airline may also apply its own proprietary procedures that are
more rigorous than the ones set forth by international standards.
Transportation of lithium batteries exceeds 10% of the airline’s total air
cargo volume, and this number is projected to grow with consumer demand for
smartphones, handheld electronic devices and electric vehicles.
The airline
expects the IATA CEIV certification to further enhance its established
reputation in safe and reliable air cargo services.
As the leading air cargo carrier in Korea, the airline will continue to enhance
its services and strengthen its competitive advantage in the global aviation
market.
Scan Global Logistics launches SAF pilot project with Majid Al Futtaim Lifestyle
Scan Global Logistics
announces a new partnership with Majid Al Futtaim Lifestyle, aiming to reduce
CO2 emissions by using SAF for airfreight shipments from Asia to the UAE. The
first shipment was planned for 1 May 2023 and was delivered safely and
successfully.
Commenting on the
partnership, Fahed Ghanim, CEO Majid Al Futtaim Lifestyle, said:
‘Majid Al Futtaim
Lifestyle is proud to partner with Scan Global Logistics to trial Sustainable
Air Fuel for our air shipments. We believe in thinking holistically about the
impact our business has on the environment and the communities in which we
operate, and this latest partnership is a testament to Majid Al Futtaim’s
unwavering commitment to sustainability as the Group journeys closer to Net
Positive by 2040.’
SAF is part of SGL's
portfolio of sustainable logistics solutions available for customers, including
biofuel for ocean freight, road freight and electric trucking.
A key reason to focus
on airfreight when reducing emissions is that it is the most carbon-intensive
mode of transport, with emissions per unit of goods transported significantly
higher than ocean or road freight. As one of the main levers to achieve CO2
reductions within the aviation industry, investing in SAF creates real climate
benefits and helps grow the demand for renewable fuels.
'We are proud to
partner with Majid Al Futtaim Lifestyle on this pilot project and hope to
demonstrate the viability of sustainable logistics and encourage other
companies to adopt similar initiatives’, says Scan Global Logistics’
Global CEO Allan Melgaard.
The SAF that will be
used is made from sustainably sourced renewable waste and residue material.
Over its lifecycle, SAF can reduce carbon emissions by up to 80% compared to
conventional jet fuel. The pilot project started on 1 May 2023 and will
continue for over 3 months.
Qatar Airways Cargo and Envirotainer unite to enhance customer
experience
In a
world marked by rapid change and an unprecedented demand for the safe and
efficient transportation of temperature-sensitive pharmaceuticals, Qatar
Airways Cargo and Envirotainer are proud to strengthen their strategic ties to
deliver an unparalleled customer experience while prioritising sustainability
in their operations.
Recognising the pressing need to address environmental concerns, Qatar Airways
Cargo and Envirotainer have joined forces to offer a more sustainable solution
for shipping temperature-sensitive pharmaceuticals to where they are needed
most. By capitalising on both organisations’ extensive network capabilities,
along with Envirotainer's cutting-edge Releye® solution, CO2 emissions for
shipments can be reduced by up to 90% compared to other solutions. The Releye®
RLP and RLP solutions also ensure precise temperature control throughout the
entire transportation process, meaning this partnership guarantees the utmost
integrity and quality of temperature sensitive cargo like never before.
Miguel Rodriguez, Head of Cargo Products at Qatar Airways Cargo said: "I
am thrilled to announce the reinforcement of our strategic partnership with
Envirotainer, a global leader in temperature-controlled air transportation
solutions. This collaboration marks a significant milestone for Qatar Airways
Cargo as we continue to enhance our capabilities in delivering pharmaceuticals
and other temperature-sensitive cargo worldwide. At Qatar Airways Cargo, we
understand the criticality of maintaining the cold chain and ensuring that
pharmaceuticals reach their destination in optimal conditions. By joining
forces with Envirotainer, we can offer our customers seamless access to their
industry-leading containers, which are specifically designed to meet the
stringent requirements of the pharmaceutical industry.
Commenting on the partnership, Akos Balkanyi, Global Key Account Manager,
expressed his enthusiasm, stating, "Through the optimisation of our
operations and investment in cutting-edge solutions such the Releye® units, we
are actively reducing our environmental impact and contributing to a greener
future reducing up to 90% our CO2 emissions. We are excited about this
collaboration and the positive impact it will have on our customers and the
industry as a whole.”
The collaboration between Qatar Airways Cargo and Envirotainer underscores
ongoing commitment of both organisations to investing in the latest
technologies to meet the needs of the life sciences sector and is poised to
make a long-term positive impact on customers and the industry for the future.
Both organisations are excited about the possibilities that lie ahead, as they
work together to ensure the safe transportation of pharmaceuticals and provide
reliable and sustainable cold chain solutions that uphold the highest standards
of quality, safety, and efficiency.
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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