JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in
Mobile : +91 98407 85202
Corporate
News Letter for Thursday June 29, 2023.
:: Today’s Exchange Rates ::
Source : The Economic Times.
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
82.05 |
0.010002 |
0.012192 |
82.03 |
82.04 |
81.9675- 82.07 |
|
|
1.093 |
-0.0031 |
-0.282813 |
1.0961 |
1.0961 |
1.0924- 1.0963 |
|
|
104.1853 |
-0.148201 |
-0.142045 |
104.4279 |
104.3335 |
104.1657- 104.4932 |
|
|
89.856 |
0.107002 |
0.119224 |
89.8077 |
89.749 |
89.7127- 89.925 |
|
|
144.367 |
0.296997 |
0.206148 |
144.07 |
144.07 |
143.731- 144.445 |
|
|
1.2627 |
-0.0122 |
-0.956938 |
1.2749 |
1.2749 |
1.2626- 1.2752 |
|
|
102.665 |
0.173004 |
0.168798 |
102.514 |
102.492 |
102.469- 102.695 |
|
|
0.5701 |
-0.0014 |
-0.244968 |
0.5695 |
0.5715 |
0.5689- 0.570 |
:: Sea Cargo News ::
CMA CGM resumes service for cashew export from
Guinea-Bissau to India and Vietnam
Every June, French shipping major CMA CGM resumes its fortnightly Bijagos Shuttle service container service (for three to four months), connecting by the sea the small West African tropical country of Guinea-Bissau with Spain’s Algeciras (about 3,500 km).
So what?
One may ask in India. This dedicated sea container service exports huge
quantities of cashew from Guinea-Bissau to India and Vietnam.
In 2022,
Guinea-Bissau exported 2,31,000 tonnes of raw cashew nuts. CMA-CGM said the
dedicated service to Asia will be run from Bissau port to Algeciras on a
fortnightly frequency from mid-June 2023 to the end of the cashew season.
The
Bijagos Shuttle service will be fully operated by CMA CGM by deploying two
vessels of 1,700 TEU (twenty-foot equivalent unit). The first vessel will be
LION to leave Bissau on June 24. A substantial stock of 40’ containers is
available in Bissau, the line said.
This
unique product (service) is during the seasonal export of cashews from Bissau
to India and Vietnam. The line said it has dedicated hubs in Mundra, Port Klang
and Singapore.
Exporters with credit limit of up to Rs 50 cr set to get
90% insurance cover: ECGC
Export promotion organisation Export Credit Guarantee Corporation of India (ECGC) on Friday announced the expansion of 90 per cent insurance cover for exporters with a credit limit of Rs 50 crore, a cover limited to those with a limit of Rs 20 crore earlier.
However,
exporters with a credit limit of Rs 20 crore previously used to get an
insurance cover of 60 per cent which was only last year increased to 90 per
cent. Piyush Goyal, Union Minister for Commerce and Industry, said that this
change will be effective July 1, 2023.
Currently,
there four banks associated with the scheme, providing Rs 50 crore credit for
exports, and this expansion is set to benefit 3,000 exporters. Meanwhile, the
ECGC has also chosen to extend this cover to another nine banks which in turn
will benefit another set of 3,000 exporters.
Goyal
mentioned plans to meet more bankers next week to request their alliance with
this scheme. Goyal also explained that with the provision of 90 per cent
insurance cover, exporters’ accounts become AA accounts, which enables interest
rates to go down. This tag also helps banks when it comes to giving loans.
“With
90% insurance cover, banks have been assured with this the interest has come
around repo rate plus 2.2 percent for all AA rates accounts”, the Minister
said. “This interest rate will be applicable to the exporters with exports up
to Rs. 50 Crore as well”.
HMM introduces first direct service between Indonesia and Latin America
HMM
is pleased to announce that its exclusive service connecting Far East, India
and Latin America (FIL) makes a maiden call in Tanjung Priok, Jakarta, on 8th
June 2023.
FIL service was launched in December 2021, and the port of Jakarta, Indonesia,
was recently added to FIL’s port rotation:
Busan
- Shanghai - Ningbo - Shekou - Jakarta - Singapore - Kattupalli -
Santos - Paranagua - Itapoa - Navegantes - Buenos Aires - Montevideo - Santos -
Singapore - Hongkong - Busan.
MV.
Hyundai Shanghai will be the first vessel for HMM’s FIL service at Jakarta with
her carrying capacity of 6,987 TEU, and this marks the company’s first direct
service between Indonesia and Latin America, with connection to key Asian
ports.
HMM is convinced that this enhanced service will provide more efficient
transportation options, strengthening trade relationships and promoting
economic growth in these regions.
The enhanced FIL service was celebrated with a presentation of plaques from HMM
Indonesia branch and New Priok Container Terminal One(NPCT1). This partnership
demonstrates the collaborative efforts and shared commitment between HMM and
NPCT1 in delivering best-in-class service and facilitating seamless trade
operations.
HMM looks forward to providing customers with the FIL service and reinforcing
HMM's position as one of the global leaders in the shipping industry.
APM Terminals receives largest ever containership to berth in Apapa
APM Terminals
Apapa made history on 19 June, 2023 when it received the largest container ship
to ever call at the Lagos Port Complex Apapa.
The Singapore-flagged Kota Cantik, operated and managed by Pacific
International Lines (PIL), is a 6,606 TEU containership with a draught of 11.6
metres, length overall (LOA) of 300 metres and beam of 40 metres.
The historic berthing of the vessel was witnessed by officials of Nigerian
Ports Authority (NPA), PIL and APM Terminals Apapa.
“We are excited at this historic achievement. We thank the Nigerian Ports
Authority for maintaining the channels and for professionally piloting the
vessel to the port,” said Terminal Manager, APM Terminals Apapa, Steen Knudsen.
“Without the effort, support and approval of NPA, this would not have been
possible.”
He said one of the advantages of bigger vessels is economies of scale through
lower slot costs for consignees.
“Carrying
a higher number of containers per vessel translates into lower capital and
operating costs per container, thereby reducing the transportation cost per
unit,” he continued. “Also, since bigger vessels consume less fuel per
container transported, the emissions per TEU are lower than for smaller
vessels. Thus, bigger vessels like the Kota Cantik are more environmentally
friendly and contribute to lowering the total emissions of the shipping
industry.”
Speaking during a reception for the vessel and its crew, the Managing Director
of PIL Nigeria, Kevin Taylor, said consignees and the Nigerian economy will
benefit from the vessel call.
“The customers in Nigeria have more opportunities to get cargoes in Lagos and
also for competitive exports,” Taylor said.
Charles
Okaga, Port Manager of the Lagos Port Complex Apapa, said he was excited about
the berthing of the vessel, barely two weeks into his resumption at the port.
“The port is the major trade facilitation platform and when vessels of this
type berth, it reduces cost of shipping and consumer goods because all of these
costs are put to every shipment. But if you pay less for shipment and
logistics, the landing cost will also reduce and that reduces inflation while
strengthening the ability of people to afford consumer goods,” Okaga said.
Captain
Daniel Osiakagum, Harbour Master for Lagos Pilotage District, said, “This milestone
has put Nigerian Ports Authority on the map to say that 300 meters and over
will be handled subsequently and we are ready for 350 to 400-metre vessels in
Lagos
Pilotage District. This means that waiting time will be reduced outside and
Nigerian Ports Authority will make more revenue for government.”
Head of Operations at APM Terminals Apapa, Karan Tariyal, expressed delight at
the berthing of the containership at the terminal. He also commended the
management of Nigerian Ports Authority (NPA) and the NPA Harbours department
for their approvals and professional handling of the ship.
Maersk to pioneer first container vessel conversion to methanol dual-fuel engine
As
the first in the shipping industry, A.P. Moller - Maersk (Maersk) will retrofit
an existing ship to a dual-fuel methanol powered vessel and thereby able to
sail on green methanol*. The first engine retrofit in the industry is scheduled
to be conducted medio 2024 and it is the intent to replicate on sister vessels
when going for special survey in 2027.
“We
have set an ambitious net-zero emissions target for 2040 across the entire
business and have taken a leading role in decarbonising logistics. Retrofitting
of engines to run on methanol is an important lever in our strategy. With this
initiative, we wish to pave the way for future scalable retrofit programs in
the industry and thereby accelerate the transition from fossil fuels to green
fuels. Ultimately, we want to demonstrate that methanol retrofits can be a
viable alternative to new buildings.”
Leonardo
Sonzio, Head of Fleet Management and Technology at Maersk
Maersk
has signed an agreement with MAN Energy Solutions (MAN ES) who will retrofit
the engine.
Besides
aiming to achieve net-zero in 2040, Maersk has also set tangible near-term
targets for 2030 to ensure alignment with the Paris Agreement and Science Based
Targets initiative (SBTi) methodology. This translates to a 50% reduction in
emissions per transported container in the Maersk Ocean fleet compared to 2020,
and furthermore 25% of its container volume will by 2030 be transported using
green fuels.
Replacing
engine parts and thereby making the engine able to operate on methanol is a
rather complex task, but only a part of the larger retrofit operation. For
instance, new fuel tanks, fuel preparation room and fuel supply system are also
a part of the retrofitting the vessel for green methanol.
“Detailed
engineering for the first retrofit is ongoing and the actual implementation
will take place in the middle of 2024. Meanwhile, discussions with potential
yards are ongoing.”
Maersk
is currently operating more than 700 vessels with around 300 of them being
owned by Maersk.
India and U.S. to discuss GSP restoration issue to find solution, says Piyush Goyal
India and the U.S. have agreed to discuss New Delhi's demand for restoration of GSP benefits to domestic exporters and now both sides will commence discussions to find a solution, Commerce and Industry Minister Piyush Goyal said on June 23.
The
previous Trump administration in the U.S. revoked the Generalized System of
Preferences (GSP) from India in 2019. The GSP allows eligible developing
countries to export duty-free goods to the U.S.
About
1,900 Indian products from sectors such as chemicals and engineering were
getting duty-free access to the US market under the GSP, introduced in 1976.
The joint statement issued after the meeting of Prime Minister Narendra Modi
and U.S. President Joe Biden in Washington said that India has highlighted its
interest in the restoration of its status under the U.S.
Generalized
System of Preferences programme, which could be considered in relation to
eligibility criteria determined by the US Congress. The leaders supported
intensifying the work to advance progress on issues related to the eligibility
criteria, it said. Mr. Goyal said that now it is a matter for both countries to
pursue and engage in a dialogue.
But
ultimately it’s the US Congress which will have to take a final decision “but
discussions will now commence on that issue” he told reporters in New
Delhi. The US has assured that they will
consider that and “we will discuss that and find some solution,” he added.
When
asked about co-operation in semiconductor sector between India and the US, he
said companies start with R&D, innovation, testing and packaging and then
gradually decide on providing the end to end facility. India will be a $100
billion semi-conductor market by 2030.
Vedanta Aluminium recognised with highest exporter award by
Haldia dock complex
Vedanta Aluminium, India’s largest producer of aluminium, has been recognized as the highest exporter of containerised cargo in Twenty-foot Equivalent Units (TEUs) through Haldia Dock Complex by the Shyama Prasad Mookerjee Port (Formerly Kolkata Port Trust) for the year 2022-23.
The
company was conferred with an award for this achievement by Santanu Thakur,
Honourable Minister of State for Ministry of Ports, Shipping and Waterways,
during a trade felicitation meet held recently at Kolkata.
Demonstrating
exceptional capabilities in logistics, cargo handling, multi-modal efficiency
and extensive connectivity to ports, Vedanta Aluminium, Jharsuguda, received
the award for successfully shipping over 1.4 lakh tonnes of containerised cargo
using 6100 TEUs to more than 30 countries and 50 ports across the world during
FY23.
This
achievement is underpinned by the company’s vision to ‘Make in India for the
World’, exemplifying its role as a flag bearer of Indi’s manufacturing prowess
on the global stage. Through this feat, Vedanta Aluminium has demonstrated its
commitment to enhancing India’s export capabilities and fostering valuable
global partnerships.
A
business of Vedanta Limited, Vedanta Aluminium is India’s largest producer of
aluminium, manufacturing more than half of India’s aluminium i.e. 2.29 million
tonnes in FY 23 and caters to the needs
of customers in more than 50 countries, including India.
:: Air Cargo News ::
Boeing is investing $100 million in pilot training for India
Closely following Air India's 290-strong
Boeing order, finalized at the Paris Air Show earlier this week, the US
aircraft manufacturer has announced it will invest $100 million into
infrastructure and pilot training programs within the country over the next two
decades.
Confirmed by The White House on Thursday,
the historic order will see Boeing work alongside the rapidly growing civil
aviation industry within India, improving current infrastructure and training
the next generation of pilots.
India is already one of the largest aviation
markets in the world, recently overtaking Japan for third place. An average of
450,000 passengers travel across India daily, which is set to rise to half a
million by the end of the year.
An additional 31,000 new pilots are
anticipated by 2043, something Boeing is targeting in its recent investment
pledge. Boeing has already received an influx of orders from Indian carriers,
including Air India's historic order announced in February, featuring 190
Boeing 737 MAX narrow bodies, ten 777Xs, and 20 787 Dreamliners for longer-haul
operations.
In anticipation of the order earlier this
year, Boeing announced an additional $24 Million investment towards an Indian
Logistics Centre, streamlining the logistics process for Air India and
supporting its existing Global Support Centre in Gurgao, and C-17 Globemaster
after market facility for the Indian Air Force.
Boeing is also reportedly developing a freighter conversion center in Hyderabad in collaboration with GMR Aero Technic’s MRO facility to meet the growing P2F cargo market demand over the next few years.
Air China Cargo extends
partnership with Lufthansa Cargo in Chengdu
Photo:
Lufthansa Cargo
Air China Cargo’s handling business has extended its
collaboration with Lufthansa Cargo through the signing of freighter ground
handling and cargo handling contracts at Chengdu Shuangliu International
Airport (CTU) in China.
Under these new agreements, Air China Cargo will provide ground
services for Lufthansa Cargo at CTU, including freighter ramp operations, cargo
warehousing, aircraft services and crew services.
“We are delighted to extend our partnership with LCAG to Chengdu
Shuangliu International Airport, following years of successful cooperation in
Beijing,” said Huang Jian, deputy managing director of the cargo terminal
business unit of Air China Cargo.
“This collaboration marks a significant milestone for both
parties as we expand our presence to another city. We are excited to explore
new cooperative opportunities with LCAG in China and continue delivering
exceptional services to our customers.”
Air China Cargo and Lufthansa Cargo have a longstanding
relationship, which has spanned over 30 years in Beijing.
Air China Cargo currently operates six cargo terminals across
mainland China, including Beijing, Tianjin, Chengdu Shuangliu, Chengdu Tianfu,
Chongqing, and Hangzhou.
The company serves over 60 customer carriers at these airports.
Widerøe selects WebCargo, adds cargo capacity for bookings
Nordic airline Widerøe has added its cargo capacity to online booking portal WebCargo. The airline is the largest regional carrier operating in the Nordic countries and has a fleet of more than 40 Bombardier Dash 8 aircraft and three Embraer E190-E2 aircraft.
It serves more than 40
domestic and international destinations with its turboprop aircraft. Widerøe
said that WebCargo’s CO2 emissions calculator was important an important factor
in its decision as it has a focus on emissions reduction. “We are very happy to
finally be able to offer our capacity on the WebCargo-platform.
The CO2-emissions
calculation done by the platform is something that we in Widerøe welcomes, it
enables the customers not only to take an active choice when it comes down to
the price, but also the impact on the environment,” said Thomas Lone, cargo
manager at Widerøe.
WebCargo said that the
calculator helps its freight forwarder users make an informed decision on which
flight to select based on emissions. Meanwhile, booking portals in general help
improve aircraft utilisation which can help improve environmental performance.
Boeing, NAC sign order for B737-800BCF to expand footprint
Boeing and Nordic Aviation
Capital (NAC) have recently signed a contract for one 737-800 Boeing Converted
Freighter (BCF). The conversion slot for the 737-800BCF is for a 2026
induction.
NAC is increasing its
footprint in the 737-800 market and this is NACs first converted freighter
order with Boeing, as per a recent company release. As a leading global
aerospace company, Boeing develops, manufactures, and services commercial
airplanes, defense products, and space systems for customers in more than 150
countries.
As a top U.S. exporter, the
company leverages the talents of a global supplier base to advance economic
opportunity, sustainability, and community impact.
Boeing’s diverse team is
committed to innovating for the future, leading with sustainability, and
cultivating a culture based on the company’s core values of safety, quality,
and integrity.
GlobalX takes delivery of second A321 freighter for global ops
Global Crossing Airlines (GlobalX) has taken delivery of its
second Airbus A321 passenger to freighter (P2F) conversion. The aircraft will
support GlobalX’s growing cargo business and will operate out of Miami into
Latin America and the Caribbean.
Miami-based GlobalX said the aircraft was converted under ST
Engineering’s Precision Supplemental Type Certificate (STC) and is leased from
Greenwich Highland Aviation. The airline said it placed the freighter on the
GlobalX operating certificate as of June 16.
“We are very pleased to start operating our second A321
freighter. Our first freighter has been operating 6 days per week with a 99.5%
dispatch reliability, and our customers are seeing first-hand the economics and
operating performance of the A321 freighter, which make it the best in class
narrowbody cargo aircraft,” said Ed Wegel, chair and chief executive of
GlobalX.
“We expect to make an announcement soon for two additional A321
freighters scheduled to be delivered this year in Q3, along with two more
freighters scheduled for delivery in Q4.” GlobalX’s received its first A321P2F
in December last year after conversion by ST Engineering.
In May 2021, GlobalX signed a letter of intent (LOI) to lease
five A321P2F aircraft with ST Engineering’s Aviation Asset Management unit.
These aircraft are being converted and leased to GlobalX progressively.
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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