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 June 28, 2023.
:: Today’s Exchange Rates ::
Source : The Economic Times.
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
82.03 |
-0.010002 |
-0.012192 |
81.97 |
82.04 |
81.9475- 82.04 |
|
|
1.0954 |
0.0048 |
0.440121 |
1.0906 |
1.0906 |
1.0902- 1.0959 |
|
|
104.3335 |
-0.1138 |
-0.108955 |
104.3392 |
104.4473 |
104.2684- 104.55 |
|
|
89.749 |
0.329002 |
0.367929 |
89.566 |
89.42 |
89.4806- 89.7877 |
|
|
143.546 |
0.036011 |
0.025093 |
143.51 |
143.51 |
143.286- 143.945 |
|
|
1.2728 |
0.0015 |
0.11799 |
1.2712 |
1.2713 |
1.2704- 1.2758 |
|
|
102.53 |
-0.162003 |
-0.157756 |
102.739 |
102.692 |
102.486- 102.802 |
|
|
0.571 |
-0.0007 |
-0.122441 |
0.5718 |
0.5717 |
0.57- 0.5727 |
:: Sea Cargo News ::
Centre withdraws draft live animal export Bill amidst stiff
opposition
Facing flak from various quarters, the central government has
withdrawn the draft Livestock and Livestock Products (Importation and
Exportation) Bill, 2023.
The Department of Animal Husbandry’s role, the order added,
primarily pertains to offering support through upgraded livestock health
facilities, hygiene etc., including animal welfare for the overall development
of the animal husbandry sector.
However, it added, that during consultation, it was felt more time
was needed to understand the proposed draft and allow for further comments or
suggestions. Representations had been made expressing concerns over the
proposed draft. These involved matters of sensitivity towards and emotions for
animal welfare, hence the Bill would need wider consultation, the order said.
Top Indian manufacturers express interest in investing in
Egypt
Indian manufacturers from power, steel, chemicals, and agriculture equipment industries have expressed interest in setting up projects in Egypt to target local and overseas markets, according to a press statement by the Suez Canal Economic Zone (SCZONE).
Gambia tightens quality checks on medicines from India
The drug regulator of The Gambia, the Medicines Control Agency (MCA), has tightened the quality inspection mechanism for imported medicines in the wake of child deaths due to the consumption of contaminated cough syrups. The cough syrups were shipped to The Gambia from India by Delhi-based Maiden Pharmaceuticals. The agency has introduced the regulation of pre-shipment document verification, physical inspection, quality control testing, and issuance of Clean Report of Inspection and Analysis (CRIA) for pharmaceuticals to address issues related to substandard and falsified (counterfeit) medicines entering the country, Markieu Janneh Kaira, executive director, MCA, informed.
Chile arrives in India to strengthen ties and increase its
offer of healthy products with a seal of origin
From Sunday 18 to Thursday 22, a delegation of senior economic
authorities from Chile will be in India to explore new opportunities for growth
and development between the two countries.
Within the agenda that will be worked during these 5 days,
promotional events in New Delhi are contemplated, along with meetings with
government authorities, and a visit to Mumbai, where the official inauguration
of the Consulate will take place along with the economic office of Chile in
this destination.
The delegation, headed by Ignacio Fernandez, the General Director
of ProChile-an entity belonging to the Ministry of Foreign Affairs in charge of
the promotion of goods and services for export- and SOFOFA, a trade association
that brings together representatives of different Chilean productive sectors.
Among the activities of the mission to be carried out in New
Delhi, we can find the Chile-India Business Council, together with the
Confederation of Indian Industry and the promotional event “Captivating Chile”,
and in Mumbai, the inauguration of the Chilean representations and the
masterclass “Know Chile Through Wines” stand out among the activities of the
mission to be carried out.
Norwegian shipbroker Lorentzen & Co has declared bankruptcy
after over 100 years in business. The Oslo-based firm submitted a tender
request after several years of heavy losses and a name change to Lilleaker
Shipping Advisors earlier this week, according to the Norwegian business daily
Finansavisen.
Lorentzen & Co was established by the four sons of captain and
shipowner Johannes Lorentzen in 1919. Over the next five years, the brothers
expanded the business into shipowning and eventually dry cargo ship operations.
The shipbroking company was divided into Lorentzen Chartering and F H Lorentzen
& Sons in 1959.
Lorentzen Chartering was managed by Jørgen Lorentzen, Otto Grieg
Tidemand and James Stove Lorentzen. The company was merged with Stemoco in the
mid-1990s and the name changed to Lorentzen & Stemoco. In 2013, the
Tidemand family bought out the other shareholders of the company.
Cattle manure as an alternative ship fuel has been proven to be
possible in landmark trials in Japan. A seven-strong group has delivered
Japan’s first successful trial using liquefied bio-methane (LBM), or bio-LNG,
derived from cattle manure on Mitsui OSK Lines’ (MOL) 2020-built LNG-fuelled
general cargo vessel Ise Mirai.
Earlier this year, the Japanese shipping giant teamed up with LBM
maker Air Water to see if the fuel could be transported, supplied, and used
without problems using existing shore and onboard equipment. In October last
year, Air Water started operation of its first plant in Japan to produce LBM,
an alternative fuel to LNG that uses unused biogas produced from cattle manure.
LBM is made by liquefying bio-methane at about -160°C generated from
dairy-owned biogas plants, separating and refining its main component, methane.
Methane can be compressed to 1/600th of its volume by liquefying it, so this
enables the mass transportation of methane.
The trial confirmed that LBM can be transported through the
existing domestic LNG supply chain, supplied via truck-to-ship bunkering using
existing LNG tank trucks, and used as a marine fuel.
For the first time since the concession began in 2011, APM
Terminals Callao, the operator of Peru's Callao North Multipurpose Terminal,
reached one million TEUs in a single concession year.
The statistic reflects, in part, a global increase in container
move relative to general freight, a trend that was briefly interrupted owing to
the Covid-19 pandemic. The number of containers entering the port during the
current concession year (July 2022 to June 2023) topped one million TEUs,
translating to an 11% increase over the previous cycle which was 900,649 TEUs.
The introduction of new electric cranes, including a Super Post Panamax
ship-to-shore crane and three electric Rubber Tyred Gantry (eRTG) cranes, has
helped the terminal to enhance its container operations, while the ships remain
at the terminal for a shorter period of time. APM Terminal said this year,
production reached a new high of 118 containers per hour, a 44% increase over
last year's average.
X-Press Feeders retakes top feedering spot
X-Press Feeders has regained the top spot from DP World unit
Unifeeder as the world‘s largest common feeder operator. Alphaliner’s latest
report, issued today, said that the Singapore-based X-Press Feeders, now the 16th
largest operator, has expanded its fleet by 2.1% since June 2022, and now has a
capacity of 134,773 TEU, including 71,232 TEU of owned vessels.
Over the same period, Unifeeder (ranked 19th) has reduced its
fleet capacity by 18%, and now operates 118,571 TEU of ships, all consisting of
chartered tonnage. Unifeeder began downsizing its fleet after Asia-Europe
volumes began regressing to pre-Covid-19 levels, affecting demand for the
Aarhus-based carrier’s feeder services connecting North Europe with the Baltic
region.
This saw Unifeeder redelivering more than 7,000 TEUs of vessels
which have since been redeployed by other carriers in the European shortsea
segment. Acquired by DP World in 2018, Unifeeder is an asset-light operator,
relying fully on the charter market for its tonnage needs. Of X-Press Feeders’
fleet, 51% is owned, up from 42% in June 2021.
Air India finalizes order for up to 290 Boeing single-aisle and
widebody jets
Boeing
and Air India announced they have finalized an order for up to 290 new Boeing
jets and expanded services. At the 2023 Paris Air Show, the companies held a
signing ceremony to celebrate the historic purchase of Boeing's market-leading
single-aisle and widebody jets to renew and expand Air India's fleet.
The
order, which includes 190 737 MAXs, 20 787 Dreamliners and 10 777X jets with
options for 50 737 MAXs and 20 787 Dreamliners, is Boeing's largest order
in South Asia and highlights its 90-year partnership with Air India.
A comprehensive
set of aviation services will also enable Air India to sustainably expand
its operations in South Asia's rapidly growing aviation market. Over
the next 20 years, South Asia is expected to more than triple its
in-service fleet from 700 to 2,300 airplanes to meet passenger demand.
The
companies announced in February that Air India had selected these
Boeing models to serve its strategy for sustainable growth.
Embraer and Lanzhou Group sign agreement for 20 freighter conversions
Embraer
signed a Letter of Agreement (LoA) at the 54th Paris Airshow with Lanzhou
Aviation Industry Development Group for 20 E190F and E195F E-Jets
Passenger-to-Freight Conversions (P2F). Embraer and Lanzhou intend to cooperate
on establishing of E190F and E195F conversion capability in Lanzhou, China,
which will support and accelerate the introduction of E-Jet first generation
freighters to Chinese market. The cooperation will serve as an initial starting
point for both companies to leverage their strengths, jointly promote the
development of Lanzhou’s air transportation industry, and boost the economy
around the airport.
With
the signing of this LoA, Lanzhou Group, becomes the launch customer for
Embraer’s P2F conversion in China, and the base in China for Embraer’s P2F
conversions.
“The
opportunity in China had a significant influence during the decision-making
process of the launch of our P2F program. It is a market with increasing demand
for cargo aircraft to accommodate the tremendous growth of E-commerce trade and
the consequent evolution of the logistics industry. We’re confident in this booming
market and always willing to support the sector’s further progress in
cooperation with our Chinese partners,” said Arjan Meijer, President and CEO
Embraer Commercial Aviation. “We welcome Lanzhou Group to be the region’s
launch customer for Embraer’s P2F conversion, and we expect to bring new
vitality to Chinese market with our E-Jets freighters.”
“The
LoA signed with Lanzhou Group today is a strong indicator of the demand we are
seeing for our E-Jet freight conversions in China,” said Johann Bordais, President
& CEO, Embraer Services and Support. “It’s great to welcome Lanzhou to join
our E-Jets freighter family. We’re glad to help them integrate into the
E190/E195 conversion network and speed up our P2F efforts in China so that more
Embraer freighters can be delivered to our Chinese customers in the
future.”
“We
are honored to be the launch customer of the Embraer E-Jets freighters in
China. We believe the ‘China speed’ in aviation logistics will be an important
basis for the sustainable and efficient growth of the Chinese economy,” said
Chen Zhiqiang, President of Lanzhou Aviation Industry Development Group. “By
cooperating with industry-leading aircraft manufacturer, Embraer and
introducing E-Jets freighters to China, we’ll fully leverage our domestic
strength and competitive advantages to boost China’s air cargo market growth.
We expect that the project, after it comes to fruition, will also help achieve
high-quality economic development in Lanzhou, Gansu, and western regions of
China.”
Embraer
launched the E190F and E195F Passenger to Freight Conversions program in March
2022, supporting the high demand for cargo and positive market trends in China.
Embraer forecasts a market demand for 600 E-Jet freighters over the next 20
years. Among which, the Chinese market is forecast to need 240 freighters of
this size, accounting for 34% of the global total, powered by demand from the
e-commerce and logistics sectors.
Embraer’s
E-Jets P2F conversions will have over 50% more volume capacity, three times the
range of large cargo turboprops, and up to 30% lower operating costs than
narrowbodies. If combining under-floor bulk cargo and main deck, the maximum
gross structural payload is 13,150kg for the E190F and 14,300kg for the E195F.
Considering typical e-commerce cargo density, the net weights and volumes are
also impressive: the E190F can handle a payload of 23,600lb (10,700kg) while
the E195F a payload of 27,100lb (12,300 kg).
The
E190 and E195, the two models included in the P2F program, are some of Embraer’s
best-selling commercial aircraft of all time. Currently, there are 85 E-Jets
flying with Tianjin Airlines, Hebei Airlines, Beibu Gulf Airlines, and Colorful
Guizhou Airlines in China. Embraer has also established a comprehensive
after-sales service and support system in China, including authorized
maintenance centers, spare parts warehouses, and complete pilot training
network.
Photo: FedEx
Express giant FedEx will ground more aircraft after both
revenues and operating income declined during its fiscal fourth quarter of the
year due to “demand weakness and cost inflation”.
In a results call, FedEx Corporation president and chief
executive Raj Subramaniam said that the company had retired 18 aircraft,
including 12 MD-11Fs, during the quarter ended May 29 and there were plans to
“take out” another 29 aircraft from scheduled flying during the coming fiscal
year.
Flight hours during the fiscal fourth quarter were down 12%
compared with last year, he said.
The move comes as FedEx Express saw its fourth-quarter revenues
decline 13% year on year due to demand dynamics and yield pressure.
FedEx chief financial officer Mike Lenz said that the plan had
been to reduce its fleet when the supply-demand constraints experienced in
recent years eased.
“We continue to reduce the transpacific and transatlantic flying
to match demand, and we’ll continue to lean into that as well as utilising the
flexibility of capacity in the market,” he said.
The company is in the midst of
a cost-saving initiative that it hopes will reduce
annual costs by $4bn by June 2024.
As well as reducing its aircraft numbers, the company has also
reduced its headcount by 29,000 and closed facilities. In the fourth quarter, revenues at the
express division were down 12.8% year on year to $10.4bn while operating income
was down 51.5% against a year earlier to $430m.
Overall FedEx revenues for the quarter – including its ground
and freight segments – were down 10.1% to $21.9bn and operating income fell
21.8% to $1.5bn.
Wiremind and WestJet Cargo explore capacity
forecasting
Image
source: WestJet CargoWestJet Cargo and Wiremind have begun working together to improve capacity forecasting at the airline to improve efficiency.
A Proof of Concept (PoC) was initiated in April and will run for the next few months with a “final enhancement” expected in the second half of this year, said the companies.
An artificial intelligence-driven capacity forecasting mechanism is already part of Wiremind’s optimisation solution, CARGOSTACK Optimiser.
Through a combination of advanced Machine Learning models and algorithms, Wiremind’s solution aims to provide an accurate estimate of the remaining cargo capacity for sale, after factoring in non-cargo items such as passenger baggage, fuel and other capacity consuming items.
It can provide this capacity estimate in payload, volume and positional terms, depending on the profile of the flight or the aircraft type operated.
The new capacity forecast solution is designed to complement
SKYPALLET by providing a more accurate capacity definition within which
SKYPALLET must optimise the flights’ bookings.
Further iterations are planned for both solutions to work
seamlessly together, such as automatically reconfiguring aircraft to an optimal
layout to further improve efficiency. “We
understand that a key pain point for cargo teams at passenger-heavy airlines is
determining how much cargo capacity they will be able to sell.
This is why we developed our capacity forecasting solution to
provide more accurate recommendations which cargo sales teams can trust,”
stated Nathanaël de Tarade, Wiremind Cargo chief executive.
“We have been accompanying WestJet Cargo in its digital
transformation since December 2019, when they became a SKYPALLET customer, and
we are very excited to take this partnership a step further with this PoC.”
Image:
Shutterstock/Postmodern StudiosElectrolux has signed up to use Freightos’ Enterprise Solution
which will allow it to make airfreight bookings on a booking portal through its
freight forwarder partners.
The Enterprise Solution allows beneficial cargo owners (BCOs) to
view the various flights and prices being offered by airlines that have
partnered with their selected logistics providers and Freightos and its portal
WebCargo.
The home appliance giant said before signing up for the solution
it had conducted a trial that had demonstrated efficiencies in “cost
estimation, booking, and end-to-end tracking and airfreight visibility”.
Freightos claimed that the enterprise platform could reduce
freight spend by up to 10% and slash booking time by 80%. Electrolux said that
removing back-and-forth emails with their logistics provider over each booking
was a time saver.
Electrolux Group logistics purchasing director said: “Freightos
empowers our planners to book the freight that they need at the cost and
delivery time which is aligned with their budget and requirements.
“This removes unnecessary back and forth between planners and
buyers, all while giving us in purchasing the consolidated data to influence
future supplier decisions.”
Freightos chief executive Zvi
Schreiber added: “For 25 years enterprises have utilised electronic
booking for their business travel, saving time and money.
“Finally, today they can do the same for their air cargo, in
cooperation with their chosen freight forwarders.
“The ROI is phenomenal, electronic bookings save days of elapsed
time, often tens of percent of cost, and provide much greater supply chain
flexibility and visibility.”
The platform also provides visibility of the Co2 emissions
generated by the various flight options.
Etihad eyes Ezhou cargo
flights as it expands SF Airlines partnership
Source:
Etihad AirwaysEtihad Cargo and SF Airlines are looking to expand their cargo
partnership which saw them launch flights between the Middle East and China.
Senior leaders from SF Airlines recently flew into Abu Dhabi to
discuss how the two airlines can expand their reciprocal blockspace agreement.
The two firms signed a new memorandum of understanding (MoU)
that promises to explore additional opportunities to expand their respective
networks via the Abu Dhabi and Wuhan hubs.
Future plans include expanding cooperated flights to Ezhou Huahu
Airport, China’s first cargo-focused airport.
This move would make Etihad Airways the first international
airline other than SF Airlines to operate flights to the airport.
The two partners will also review the schedule of services
between Abu Dhabi and Wuhan with a view to increasing frequencies to meet cargo
demand.
Etihad Airways chief executive Antonoaldo Neves said: “The
agreement between Etihad Airways and SF Airlines will contribute to achieving
the emirate’s ambitious strategic plans.
“Etihad Cargo looks forward to expanding the agreement between
the two airlines to not only benefit the partners and customers of both
airlines but also broaden the strong ties between the UAE and China.”
Li Sheng, vice president of SF Group, chairman of SF
Airlines, said: “By expanding this cooperation between SF Airlines and Etihad
Airways, we will continue strongly supporting and improving both parties’
service capabilities, and provide global consumers with more convenient and
reliable services.”
In April, Etihad Cargo and SF Airlines signed a reciprocal
capacity agreement to
connect their respective networks.
The new partnership saw the launch of two weekly freighter
services between Abu Dhabi Airport and Wuhan Tianhe International Airport in
the Hubei Province of China.
SF Airlines expanded its Middle Eastern footprint and benefits
from Etihad Cargo’s global network for its express product.
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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