JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in
Mobile : +91 98407 85202
Corporate
News Letter for Friday December 01, 2023.
:: Today’s Exchange Rates ::
Source : The Economic Times. R
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
83.39 |
0.059998 |
0.072 |
83.31 |
83.33 |
83.2875- 83.40 |
|
|
1.0909 |
-0.006 |
-0.547 |
1.0969 |
1.0969 |
1.0892- 1.0984 |
|
|
105.6363 |
-0.0271 |
-0.025647 |
105.8174 |
105.6634 |
105.5847- 105.9712 |
|
|
91.1725 |
-0.275497 |
-0.301261 |
91.442 |
91.448 |
91.0493- 91.5532 |
|
|
147.823 |
0.582993 |
0.395947 |
147.24 |
147.24 |
146.85- 148.52 |
|
|
1.266 |
-0.0035 |
-0.275698 |
1.2695 |
1.2695 |
1.2604- 1.2711 |
|
|
103.115 |
0.349998 |
0.340581 |
102.785 |
102.765 |
102.719- 103.194 |
|
|
0.5664 |
0.0013 |
0.230044 |
0.5661 |
0.5651 |
0.5661- 0.5674 |
/// Sea Cargo News ///
Carriers
on India-US trade attempt higher rate hikes for December
Container carriers serving India-US trades seem to have regained
some strength to attempt higher rate increases amid promising export trade
indications.
CMA CGM has doubled the amount of a previously announced peak
season surcharge (PSS) for December on shipments from India to the US East and
Gulf coasts.
The French liner, in a new customer advisory, said a PSS of
US$200 per container that was to take effect from 1 December will be revised
upwards to US$400 per container, from 15 December. “The PSS applies to tariff or service
contract rates for all cargo moving under the scope of the tariff,” CMA CGM
(India) said.
Other carriers like Hapag-Lloyd and Mediterranean Shipping Co.
(MSC) could follow suit, according to market sources. Hapag-Lloyd on 14
November announced plans to implement a general rate increase of US$200 per
container on this trade lane, starting 15 December.
The German carrier said cargo loads from Mundra, Nhava Sheva,
Pipavav and Hazira to USEC will attract this GRI. CMA CGM and Hapag-Lloyd
together operate the Indamex network between West India and USEC through
consortium arrangements.
Thanks to a few void calls announced by India-USEC services this
month, loading capacity out of Nhava Sheva and Mundra has tightened on recent
vessels, enabling major carriers to at least raise spot rate levels.
Indian ports reported a 5% increase in container volumes during
October, month-on-month, according to new data. Combined throughput hit 1.9
million TEUs, from 1.8 million TEUs during September, according to data
obtained by Container
News.
India’s merchandise exports, by value, in October saw a 6.2%
increase, reaching US$ 33.6 billion, according to new government data. “This
suggests that the export sector is on the road to recovery due to the
resilience shown by it,” said A. Sakthivel, president of the Federation of
Indian Export Organisations (FIEO) in a statement.
FIEO also noted, “Demand is still an issue in many markets due
to high inventory and growth reflects that we may be eating into the share of
some other countries.”
Sakthivel went on to add, “The tension in West Asia had also
made businesses and markets sceptical and nervous, but the conflict will have a
limited impact unless it escalates, and more countries join in.”
He also explained, “While goods exports growth has remained
somewhat sombre, services have continued on with its momentum and maintained a
rising trend, helping to narrow the overall trade deficit and keeping the
current account deficit under check.”
APM
Terminals Pecém breaks box volume records and boosts fruit exports
Brazil's APM Terminals Pecém handled 55,000 TEUs in October,
representing the highest monthly volume ever recorded in the terminal’s
history.
The terminal also saw an important 11% growth in container moves
year to date, versus the same period in 2022, mainly driven by a 23% growth in
the export of produce from the fruit growing centers of Pernambuco, Bahia,
Ceará and Rio Grande do Norte.
Daniel Rose, CEO of APM Terminals Pecém, commented, "Our
agile response to increased demand ensured the continuity of services with high
levels of reliability. Through these achievements, we have reinforced our
commitment to the Port of Pecém and the fruit-growing sector in the northeast
region in particular. This has strengthened the fundamental role of the Port as
a hub for Ceará through the expansion of operations to support exports."
Historically, October and November have always been the highest
volume months, largely due to the high demand for fruit exports to Europe and
the United States, according to APM Terminals.
The port authority responsible for the Pecém Port complex
forecasts exports from the fruit sector this season to reach 180,000 tons,
10,000 more than last year. It is also estimated that shipments will reach
7,200 refrigerated containers, with products grown especially in the hubs of
Pernambuco, Bahia, Ceará and Rio Grande do Norte.
"We are optimistic about the future and committed to
investing and growing together with Ceará and neighboring states. Our success
is driven by the sustainable economic development in the region. We will
continue to lift standards of efficiency and reliability, expand
infrastructure, and promote sustainability and social responsibility in all our
activities,” said Daniel Rose.
Marcelo Gurgel, commercial manager at APM Terminals Pecém, adds,
"In addition to the 23% growth in fruit exports in the last three months,
the terminal was also the main Port for logistics to supply aid destined for
Manaus, which suffers from the worst drought in the Amazon region ever recorded
in history."
During this period, the terminal experienced a high demand for
containers and acted as an operational hub for receiving a significant part of
the cargo volumes destined for Manaus, from various shipowners.
"Our terminal was well prepared for this challenge and
previous investments made in equipment, people and specific areas have lifted
standards of proactivity for receiving transshipments and enabling the constant
alignment between the various shipowners and Pecém Port Complex," noted
André Gonzaga, operations manager at APM Terminals Pecém.
Container shipping to bear brunt of EU Emissions Trading System
Container shipping will be the hardest hit shipping sector in
January when the European Union Emissions Trading System (EU ETS) goes live
with the carriers liable for around €1.82 billion in carbon charges at today’s
prices, by 2026.
The EU ETS will be introduced gradually from 2024, with carriers
liable for 40% of emissions in the first year, rising to 70% in 2025 and 100%
by 2026, and Albrecht Grell, MD at OceanScore said the bill for the EU ETS will
total around €6.5 billion, depending on the cost of EU Allowances (EUAs),
calculated using today’s fleet deployments.
Moreover, Grell, speaking at the launch of tech start-up
OceanScore, responding diplomatically to questions regarding a global
market-based measure (MBM) said, “I do not believe that the framework at the
IMO is sufficiently large enough for a global MBM to be accepted by the nation
states.”
More likely, according to Grell is the proliferation of regional
MBM measures with all the challenges that will create for both shipping, which
will have to navigate multiple regulations, and the regulators, who will need
to decide who profits from the carbon charges and where the boundaries lie for
each jurisdiction.
Container shipping lines have said that the charges levied from
the EU ETS will be passed on to shippers and forwarders, with Evergreen
announcing charges of €27/dry container and €41/reefer on the Asia to Europe
trades. Similar charges will be levied by most other lines.
However, the EU ETS will create another accounting clerical
management requirement for the lines and Grell was in London to outline a
possible solution for the carriers to manage the new regulatory requirements.
OceanScore is a one-stop automated system for dealing with
payment of EUAs and managing the EU ETS, although Grell acknowledges that there
will always be manual inputting of a limited amount of the data, mainly due to
the access requirements to the Union Registry, where EUAs are acquired.
According to Grell, a number of functions around the EU ETS
remain to be clarified, including which facilities are considered transshipment
ports, thereby clarifying the last port of call for EU ETS purposes and who is
liable for buying the EUAs, the owner or ship manager, while many charters have
yet to be modified to account for the new regulation.
Moreover, there will be a need for the carriers to take cash
payments and buy EUAs, while the responsibility for buying the correct number
of EUAs, estimated at 6,000 per vessel per European port call.
Managing the system will require trained and dedicated staff
said Grell, putting OceanScore at the forefront of meeting those challenges,
which has been recognised by such companies as MSC and vessel owner Peter
Döhle.
Matthias Bloete, director of finance, controlling &
corporate development at Döhle explained why the company had decided to partner
OceanScore, “Although OceanScore is a start-up it has a hugely experienced team
with many years of shipping experience, which means that the solution has
practical processes and the handling and usability is very good.”
Kwai Tsing
Container Terminal / Credit: Home Affairs Department, Hong Kong
Hongkong International Terminals (HIT) has refuted market
rumours that the entire site of terminal 9 at Kwai Tsing Container Terminal has
been decommissioned.
HIT, a joint venture between Hutchison Ports and COSCO Shipping
Ports, stated that only the north part of the terminal, covering a 19-hectare
area, was decommissioned. This began in 2020 and was completed in 2022.
Hong Kong's container throughput has slowed since the Covid-19
pandemic, and it has been predicted that 2023 volume will drop to 14 million
TEUs, from 18 million TEUs in 2019, falling out of the top 10 global port
throughput rankings.
Volumes at the Kwai Tsing terminal have also declined in tandem,
and Hong Kong is contending with a slowing global economy, geopolitical
tensions, and greater China’s slow recovery from the pandemic, as well as
competition from mainland Chinese ports. Compared with 2019, the overall
throughput of Kwai Tsing will drop by approximately 24% in 2023, as utilization
is said to be around just 50%.
During the pandemic, with intermittent lockdowns, liner
operators ended up skipping calls to Hong Kong, focusing on other major Chinese
container ports in the Pearl River Delta.
It has been forecast that Hong Kong has lost about 2 million TEU to Nansha and Shenzhen ports.
Great Nicobar transhipment port project in final stages of clearance, construction to begin next year
India’s Shipping Ministry plans to start construction of the first
phase of the international trans-shipment port at Galathea Bay in the Great
Nicobar island, off Bay of Bengal, “next year”, a senior official aware of the
discussions said.
The DPR of the project is under finalisation and the tenders for
construction will be invited over the next two-to-three months. To be developed
on a public private partnership (PPP) basis, the proposed international
container trans-shipment port is estimated to cost ₹44,000 crore.
It will come up in four phases having a total capacity of 16
million TEUs (twenty equivalent units). The entire port will be commissioned by
2058. According to officials, the Finance Ministry has already given an
in-principle approval to the project, while environment clearances were
received in November 2022.
“By next year, construction on Phase 1 of the Galathea Bay trans-shipment port project should start. In the next two–to– three months, the tendering process should be underway and done,” the official said.
China's rice exports to Ivory Coast top 2022 after India
imposed curbs
China exported more rice to the Ivory Coast in the three months
through October than in the whole of 2022 after India restricted shipments of
the grain, with those curbs likely to extend into next year.
The Asian nation shipped 45,000 tonnes to the African country in
October, matching the volume exported in August, customs data compiled by
Bloomberg show. The Ivory Coast was the fourth-biggest buyer of non-basmati
rice from India in 2022-23, according to Indian government data.
Top shipper India ramped up its curbs on overseas sales from late
July and is expected to maintain those restrictions into next year to contain
local prices ahead of an election. An Asian benchmark jumped back above $600 a
ton this week after recently cooling from the highest level in almost 15 years.
The Ivory Coast has only purchased rice from China in October and
August this year, with the total of 90,000 tonnes exceeding the 63,500 tonnes
in 2022, according to customs data. Other African nations have boosted
purchases from China.
China exported 20,000 tonnes to the Democratic Republic of Congo
in October, the biggest monthly volume since at least July 2018, the figures
show. Shipments to Ghana were at 20,000 tonnes, slightly lower than the record
20,500 tons in August.
Bangladesh remains West Bengal’s largest export partner
West Bengal’s largest export partner continues to be neighbouring country Bangladesh as exports has grown from 13.4% in 2018-19 to 17.4% in 2022-23. The export list is followed by the UAE and US, said Raju Mishra, joint secretary for the industry, commerce and enterprises department.
The stare government also unveiled Bengal’s new Export Promotion
Policy 2023 at the seventh edition of the Bengal Global Business Summit (BGBS).
The policy is expected to facilitate investments from the Asian
Development Bank (ADB), World Bank and private partners. The new export policy
is expected to double the state’s figures by the next decade.
While focusing on Bengal’s potential in the export segment, Raju
Mishra, joint secretary for the industry, commerce and enterprises department,
said the ADB had already joined hands with the state government for the
construction of three economic corridors – Dankuni-Haldia, Dankuni-Kalyani and
Dankuni-Raghunathpur – which would help Bengal double its export in the next
decade.
Among Bengal’s districts, Kolkata leads with a 38.2% share of the
state’s exports, followed by Howrah at 10% and East Midnapore at 9.2% in
2022-23.
/// Air Cargo News ///
Qatar Airways Cargo launches latest product Drive
The
world’s leading air cargo carrier, announced its latest product, Drive.
Designed to transport various types of automobiles by air, Drive caters to the
unique requirements of each vehicle - be it regular cars, vintage cars, premium
or luxury models, new cars and sports cars. It underscores the carrier’s
commitment to delivering meticulous solutions for both personal and commercial
vehicles.
Miguel Rodriguez Moreno, Head of Cargo Products said, "Drive exemplifies
our unwavering commitment to precision and customer centricity. With this
product, we combine technical proficiency, experienced teams and charter
solutions to offer a tailored experience for the transportation of automobiles.
We
take pride in our expert and dedicated teams who have been involved in
transporting vehicles for several years including vehicles for many global
racing events. Our rigorous and meticulously designed training ensures that our
dedicated staff follow handling protocols diligently at every stage of the
journey."
Drive offers customers the ability to move different types of high value
vehicles with engine and wheels in a safe and efficient manner, on the
airline’s freighters and passenger flights to more than 160 belly-hold and over
70 freighter destinations as well as to those destinations that are not part of
its scheduled services.
The
Drive product is equipped to offer full or part-charters catering to the
airline customers’ requests, and ensuring that even the most unique and
exclusive automobiles are transported with the utmost care.
The airline’s specialist teams from Special Loads, Dangerous Goods, Operations,
Charters and its Loadmasters collaborate to offer the optimal loadability and
cost-effective solutions for all vehicles being transported.
Safety
is paramount and the teams take extreme caution ensuring all safety measures
are followed, and vehicles are tied down and secured properly before being
flown on the flight. The vehicles are monitored throughout the entire
journey by the airline’s operational experts.
The airline has been transporting cars for several years. In 2022, Qatar
Airways Cargo transported over 1400 vehicles, asserting its proven capability
and expertise in handling different segments of vehicles.
The
introduction of Drive showcases Qatar Airways Cargo's position as a global
leader in air cargo transportation, delivering solutions that meet the unique
demands of the market and its discerning customers.
China Airlines looks to offload more 747 freighters
Photo
China Airlines CargoChina Airlines is looking to offload five of its ageing Boeing
747 freighters next year. The Taiwan-based carrier has mandated AMS
Aircraft Services (‘AMS’) to sell, via a Request For Proposal (‘RFP’) process,
the five 747-400 freighters.
The aircraft, all CF6-powered, were manufactured between 2001
and 2003 and are available for delivery from April through October 2024. The
decision to offload the freighters comes as the carrier has been busy renewing
its cargo fleet.
Last year, the carrier announced
an order of four Boeing 777 freighters, in
addition to the six it had previously ordered. So far, the carrier has taken
delivery of seven of the 777Fs while its fleet of 747 freighters is down from
its previous high of 18. In total,
PlaneSpotter.net shows that the carrier currently operates 14 747-400Fs but
eight of these have been parked. By the end of the year, the airline is aiming
to have offloaded another 747 freighter to bring the total number down to
13.
The remaining three 777 freighters are due for delivery next
year. When the 777 order was initially
announced, the carrier said: “The ongoing fleet acquisition programme will
boost operating performance by balancing network development and market
movements against the aircraft replacement schedule.”
In the first half of the year, China Airlines saw its cargo
revenues decline by 54.5% to TWD29.3bn as the market re-adjusted following the
Covid pandemic.
Booking portal Freightos
sees Q3 revenues rise but losses deepen
Image source: Pixels
Hunter/ Shutterstock
Freightos continued to record improvements in both revenues and
the number of transactions made on its booking portals in the third quarter but
losses deepened.
The company, which includes airfreight booking portal WebCargo,
saw its revenues increase by 8.9% year on year to $5.1m in the third quarter of
the year on the back of a 40% improvement in the number of transactions to
269,000.
Meanwhile, losses for the period grew to $7.2m from $5.4m last
year as spending on research and development; sales and marketing; and admin
increased.
The company also incurred around $800,000 in costs for its
reorganisation. In July, the company announced that it would reduce its
headcount by around 50 people as part of efforts to reduce costs.
Despite the loss, the company was positive on its performance
during the period given the improvements in revenues and transactions.
It pointed out the improvement in transactions came despite
overall global air cargo volumes being flat compared to the third quarter of
2022 and below 2019 levels.
Meanwhile, the number of unique buyer users digitally booking
freight services across the Freightos Platform grew 16% compared to the third
quarter of 2022, reaching 17,312.
Zvi Schreiber, founder and chief executive of Freightos, said:
“We are pleased with our third quarter results, marking the 15th straight
quarter of robust growth in the number of transactions.
“This is a clear indicator of how strongly our value proposition
is resonating, despite the current industry downturn.
“On a macro level, we are encouraged to see that global trade
volumes continue to grow, and look forward to more indications of recovery in
the global freight market.”
“During the quarter, we enhanced our offerings with key features
and expanded our network of buyers and sellers.
“Even with this growth, we are only scratching the surface of
digitizing the international freight market, and we’re excited about the
opportunities we have as leaders in this ongoing digital transformation.”
The number of compaines offering their capacity also increased
during the period to 39, with airline Norse Atlantic Airways, charter company
Chapman Freeborn amd GSAs CargoJet and InXpress joining.
“Other existing airline sellers expanded available capacity to
and from the Americas, Europe, Asia and the Caribbean, and expanded
availability of specialized air cargo services for pharma,” the company said.
Source: BBN Airlines
Indonesia. Boeing 737-800
Recently-launched BBN Airlines Indonesia has added a third
freighter to its fleet as the country’s all-cargo market continues to
expand.
The Avia Solutions Group-owned ACMI carrier this week announced
the arrival of one Boeing 737-400SF to join its existing fleet of two
737-800Fs.
At the same time as announcing the freighter arrival, the
carrier also received three 737-800NG passenger aircraft.
The four new aircraft will undergo a redelivery check at FL
Technics Indonesia before being operated commercially at the beginning of next
year.
The aircraft will be used for both domestic and international
routes, with a focus on the China to Bali route, the carrier said.
Martynas Grigas, chairman of BBN Airlines Indonesia, said:
“Since ACMI providers are still a rarity in Asia, BBN Airlines Indonesia is
expected to give an extra boost to support the ever-growing aviation needs in
Indonesia. This expansion will allow us to better serve our customers and meet
the growing demand from airline, logistics, and tour operator companies.”
The airline received
its AOC in August of this year with aims to
capitalise on the lack of ACMI providers and growing e-commerce demand.
The carrier was the second Indonesia-based cargo airline to
receive its AOC in August.
Freighter operator Raindo United Services gained
its air operator certificate (AOC) that month and had
plans to launch operations this year.
The carrier will launch operations with two 23-tonne capacity
Boeing 737-800BCFs, with the first (PK-RUS) delivered on July 14 and the second
(PK-RFS) arriving on August 9.
Raindo plans to offer both domestic and international services.
Meanwhile, Teleport is also rapidly expanding its operations
after taking
delivery of its first A321P2F.
BIFA creates new
sustainability policy group
Source:
BIFA,The new group will be managed by Mike Jones, who is the organisation’s policy advisor for sustainability & environment.
The organisation said that it had for a number of years been monitoring the legislation, tracking any new regulations, and delivering advice to its corporate members on various environmental issues such as plastic packaging and the problems surrounding its disposal, as well as
the development of different fuel types and their respective merits and
de-merits.
However, it decided to form the new policy group to help
identify and report to the association and its members on environmental-related
issues which may in the future have an impact upon their businesses, or in fact
are already doing so.
The group help its first meeting earlier this month, where
members discussed how the policy group could work to provide guidance to the
association in order to deliver meaningful support on environmental and
sustainability issues as they impact the UK and the international freight
services industry.
Future meetings will discuss how to agree and set the
association’s policy on all matters concerning environmental matters.
At the first meeting, director general, Steve Parker emphasised
the significance of this new policy group and urged members that were present
to encourage other members to engage with the group and attend future meetings.
“All BIFA members are at different stages of their journey in
regards to the development of policy that addresses environmental and
sustainability issues within the supply chains that they manage,” he said.
“By participating in this policy group, members will be able to
help shape best practice guidance; and influence how BIFA can represent
members’ interests on this subject in our interaction with Government and other
stakeholders that are developing legislation on the matter.”
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.
Comments
Post a Comment