JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91
98407 85202
Corporate News
Letter for Tuesday April 02, 2024.
:: Today’s Exchange Rates ::
Source : The
Economic Times RATES
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
83.4 |
0.020004 |
0.023992 |
83.32 |
83.38 |
83.3075- 83.41 |
|
|
1.0788 |
-0.004 |
-0.369419 |
1.0828 |
1.0828 |
1.0783- 1.0799 |
|
|
105.3781 |
0.166794 |
0.158532 |
105.3322 |
105.2113 |
105.3322- 105.3781 |
|
|
89.8734 |
0.00 |
0.00 |
90.188 |
89.8734 |
89.8599- 90.2721 |
|
|
151.338 |
0.007996 |
0.005284 |
151.33 |
151.33 |
151.229- 151.43 |
|
|
1.2619 |
-0.0021 |
-0.166148 |
1.264 |
1.264 |
1.2617- 1.2642 |
|
|
104.499 |
0.012001 |
0.011486 |
104.49 |
104.487 |
104.423- 104.541 |
|
|
0.5513 |
0.00 |
0.00 |
0.5508 |
0.5513 |
0.5507- 0.5515 |
/// Sea Cargo News ///
Baltimore bridge collapse could cause significant supply chain disruption
The Francis
Scott Key Bridge in Baltimore collapsed after
being struck by the 10,000 TEU container vessel Dali, deployed on 2M alliance's
Far East - US East Coast service.
While Baltimore is not one of
the largest US East Coast ports, it still imports and exports more than one
million containers each year so there is the potential to cause significant
disruption to supply chains, according to Emily Stausbøll, Market Analyst at
Xeneta, an ocean freight shipping rate benchmarking and intelligence platform.
Stausbøll
said, "The immediate focus is the rescue operation, but there will clearly
be a highly-complex recovery phase and investigation to follow and we don't
know what impact this will have on operations at the Port of Baltimore."
The
analyst mentioned that the Panama Canal drought and the Red Sea crisis have
already caused significant challenges to the Far East - US East Coast ocean
freight network, in which rates have already increased by 150%.
"It
is likely other larger US East Coast ports such as neighbouring New York/New
Jersey and Virginia can handle additional container imports if Baltimore is
inaccessible, which may limit any impact on ocean freight shipping rates,"
noted Stausbøll.
She
said, however, that there is only so much port capacity available and this will
leave supply chains vulnerable to any further pressure.
"The
question is how quickly ocean freight carriers can put diversions in place,
particularly for vessels already en route to Baltimore or containers at the
port waiting to be exported," wonders Emily Stausbøll.
EUROGATE implements CONROO’s gate pass for enhanced terminal security
© EUROGATE/VielmoEUROGATE Container Terminal Hamburg (CTH) will implement CONROO's GATE PASS solution, enabling fully digital verification of truck drivers. The primary goal is to enhance efficiency and security across all processes at EUROGATE container terminals.
EUROGATE is embracing CONROO's APP solution from the hinterland,
aligning with the principles of eco-friendly combined transport and supporting
business growth.
With container terminals spanning five countries in Europe and
North Africa, EUROGATE adopts CONROO's "GATE PASS" digital solution,
developed in close partnership, for streamlined identification of truck drivers
during pickups or deliveries.
This transition ensures seamless entry and exit without delays,
rendering the previous analogue "trucker card" obsolete at EUROGATE's
Hamburg site by 2 May 2024, to be replaced by CONROO's GATE PASS. Bremerhaven
and Wilhelmshaven will swiftly follow suit, along with other international
EUROGATE locations.
EUROGATE's endorsement of CONROO's APP solution underscores its
proven efficacy at numerous terminal and depot sites in the DACH region,
including Deutsche Bahn terminals, Swissterminal, and TriCon.
"Today we are taking more than just a step forward. By
introducing the CONROO solution across all locations, we are setting new
standards for the entire EUROGATE Group.
But it also sends out a signal to other sea and hinterland
terminals. Ultimately, everyone can benefit from the more efficient exchange of
information along the entire supply chain," explained Michael Blach,
chairman of the EUROGATE Group management board.
The fully digital GATE PASS enhances efficiency and boosts
security across terminal operations. This app solution is compatible with all
common mobile devices and facilitates the entire process, from registration to
complete digital driver verification, along with DAKOSY route planning (TR02)
and on-site guidance.
What sets it apart is its extensive interface system, seamlessly
integrating all stakeholders along the logistics chain, including TMS,
platforms like driveMybox, as well as depots and warehouses.
CONROO consistently operates as an independent and neutral
partner at every location. The rollout of the new "GATE PASS" app
solution will be gradually implemented across all EUROGATE Group's German
terminal locations starting in spring 2024.
"The further development of the CONROO solution and
connection of seaport terminals creates substantial added value for truck
drivers, hauliers and terminal operators. Ultimately, the entire supply chain
benefits from the digital connection between shippers and truck drivers that we
create with CONROO CONNECT, our truck visit system.
Together with Markus Hartung, Co-Founder and CTO, we launched
CONROO in the hinterland in 2021 and are delighted to now also be able to serve
seaport terminals," mentioned Felix Paul Czerny, co-Founder and CEO of
CONROO.
Profiteering lines take shippers to the cleaners
Major container carriers are using the European Union Emissions
Trading System (EU ETS) to fleece their customers, over-charging for the carbon
trading scheme by thousands of euros, according to a leading environmental
organisation.
A study by the Brussels-based Transport & Environment
(T&E) pressure group analysed 565 journeys taken by 20 vessels to and from
Europe operated by Maersk, Hapag-Lloyd, MSC and CMA CGM and found that the
lines were charging more than the cost of the EU ETS in 90% of the cases.
Jacob Armstrong, shipping manager at T&E, said, “Shipping
giants are ripping off customers by using environmental measures as a way to
charge customers more. Whether it's disruption in the Red Sea or a new carbon
price, shipping companies always win.”
According to T&E Southern European governments are warning
that carriers will avoid Mediterranean ports in favour of North African, non-EU
terminals, costing them business but Armstrong asks, “Why would they if they’re
making money from it [the EU ETS]?”
The T&E survey cited an “extreme case” which the group
estimated Maersk charged an extra €325,000 in EU ETS levies. And the NGO said
that the Danish carrier adds on average around €60,000/voyage, while MSC adds
€25,000, CMA CGM €14,000 and Hapag-Lloyd €23,000/voyage.
“While the individual profits for each voyage are not always
that high, for carriers with hundreds of vessels this represents millions in
surcharge profits every year,” claimed T&E.
Shippers have questioned the ability or desire of some
governments to implement carbon charges with the Global Shippers’ Forum (GSF)
concerned that the rising costs of shipping will increase costs and ultimately
cause inflation, leading to an economic downturn.
“You shouldn’t be decarbonising shipping by throttling demand,”
warned GSF MD James Hookham. “This behaviour, if true, is not going to
help engender the trust, transparency and truth that’s needed to help get the
shipping industry to net zero with the willing support of its customers.”
IMO secretary general Arsenio Dominguez recently told
journalists at the MEPC 81 that he is confident that an economic pricing
mechanism will be in place by 2027, as mandated by the member states, “but I’m
not sure what form it will take”, he conceded.
Shippers, however, are skeptical that the member states have the
desire or the ability to police the carriers, with Hookham suggesting that the
introduction of a global carbon pricing mechanism will be a green light for
carriers to continue operating on fossil fuels, safe in the knowledge that
shippers will be forced to pay, opening the way for some 20 years of
profiteering by carriers.
“With a global carbon levy moving ahead at IMO there is an
increasing likelihood that the switch to zero-carbon fuels in shipping is going
to be funded by shippers of goods rather than shareholders and shipowners,”
explained Hookham. “Governments must build in the checks and audits to ensure
any levy funds raised from customers are used to fund the transition and not to
support a share price”.
The EU ETS will only levy charges for 40% of emissions this
year, with the charges rising to 70% and 100% of emissions in 2025 and 2026
respectively.
Hookham has voiced concerns that these increases will be a green
light to increase the profiteering.
Maersk responded to what it believes is a flawed analysis by
T&E. The carrier said it is positive that T&E’s analysis demonstrates
there is competition between shipping companies when it comes to EU ETS costs. However,
the Danish company added that T&E analysed selected trades, but its
analysis relies on outdated surcharge estimates for these trades.
“These older estimates reflect a higher EUA price, leading to
higher costs. This, in turn, leads to the wrong conclusions when compared to
the current levels. Newer surcharge estimates are available on Maersk.com and
reflect lower EUA prices.”
Carriers playing catch-up to further tilt supply-demand imbalance
ONE Innovation
Ocean Network Express (ONE) announced an aggressive midterm plan
on 19 March to grow its operated fleet to 3 million TEUs by 2030, representing
a 66% growth from its current fleet at an annualised growth rate of 10% per
year.
The plan will demand capital investments of US$25 billion and a
further US$10 billion in associated assets over the next five years, which
could also include the transfer of some of the assets from its three
shareholders, NYK, MOL and K Line.
ONE's move represents a
"belated attempt" to regain market share, after successive years of
sub-par growth, according to Linerlytica, which said that since the
announcement of the magenta-colored ocean carrier formation in 2016, the
consolidated Japanese shipping company has grown its fleet by just 30% in the
last seven years compared to market growth of 40% over the same period.
Source:
Linerlytica
"These attempts by straggling carriers to play catch-up
would further worsen the supply-demand imbalance over the coming years, with
the next moves by other laggards including Maersk and Hapag-Lloyd to be watched
closely," pointed out Linerlytica.
Meanwhile, the global container ship fleet reached 29 million
TEUs last week as new vessel deliveries continued to enter the market with
close to 200,000 TEUs delivered over the past month compared to just 2,200 TEUs
that were scrapped.
"Despite the rapid fleet growth, charter rates have
continued to rise with carriers undeterred by the recent freight rate
correction with several still eyeing market share growth," noted
Linerlytica, adding that ONE’s midterm plan can only be achieved by doubling
their current orderbook, with other laggard carriers also expected to follow.
The box lines are planning rate increases in April after two
unsuccessful attempts in March, with Asia-Europe freight futures rebounding by
10-25% last week. However, capacity utilisation levels need to pick up quickly
for the rate increase to stick with market conviction remaining muted, noted
Linerlytica.
Euroseas completes retrofits of 6,350 TEU vessel
Marcos V / Source: VesselFinderEuroseas, a Greek owner and operator of container vessels,
announced the successful implementation of several "energy saving
devices" on its 6,350 TEU boxship Marcos V.
This strategic move aims to enhance fuel efficiency by
approximately 25% within the vessel's commercial speed range. The investment
coincided with the ship's scheduled dry-docking and special survey, with
funding provided by the vessel's charterer.
Concurrently, the charterer has exercised its option to extend
the charter by a minimum of seven months until August 2025. Moreover, if the
vessel is employed after the current charter period, the owners commit to
refunding a portion of the costs to the charterer, capped at 50%.
The following devices were installed on the ship: a New bulbous
bow, a new and lighter propeller, Hub vortex absorbed fins (HVAF), Pre-shrouded
vanes (PSV), Silicone coating of the ship’s underwater parts, LED lights,
Autopilot upgrade with advanced ecology control and a Jacket pre-heater auto
control.
“We are pleased to announce the completion of retrofits for our
M/V Marcos V, continuing our retrofitting program, as part of our efforts to
minimize the carbon footprint of our fleet. As in the case of the recent
retrofit of M/V Synergy Busan, we cooperated closely with the charterer to
specify and fund the modifications of the vessel and share the economic benefit
from the improved performance,” commented Aristides Pittas, chairman and CEO of
Euroseas.
MSC
commences new Panama-US East Coast service
MSC Michaela / Source: VesselFinder
The Swiss/Italian container carrier MSC has announced the launch of a new connection between Panama and the US East Coast.
The world's largest
box line will start a service, called Wilmington Feeder, according to
Alphaliner, which will be operated by three container vessels in the range of
2,800 - 4,100 TEU capacity.
The port rotation of the Wilmington Feeder service will be Colon (Panama) - Wilmington (US) - Port Everglades (US) - Colon.
Work on Ulsan container pier suspended after two killed in crane collapse
South Korea’s Ministry of Employment and Labor (MOEL) today (26
March) issued a partial stop-work order on reinforcement work around Jeong Il
Ulsan Container Terminal after a fatal accident on 25 March.
Two workers died when a container crane undergoing reinforcement
work collapsed into the waters around 11.11 am local time. As the 65-metre
crane, weighing 610 tonnes, fell, it hit three mobile structures that were
involved in the works, killing the men who were on those structures. Both men
were employed by a subcontractor and were pronounced dead after being conveyed
to a hospital. The work suspension covers the collapsed crane and two nearby
cranes.
These cranes move containers from the dock onto ships. Located
in the South Korean petrochemical hub, Ulsan is primarily catering to
intra-Asia container traffic and has an annual container handling capacity of
around 1.2 million TEUs.
Officers from the Korea Coast Guard’s Ulsan branch, MOEL and
Korea Occupational Safety & Health Agency inspected the site around 2 pm
today, collecting data for investigations.
The Korea Coast Guard is investigating the cause of the accident
with the person in charge of safety management at the site, and will
conduct a joint inspection with the National Forensic Service’s representatives
next week. It wants to determine if the Serious Accident Punishment Act was
breached.
A spate of recent fatal industrial accidents in the country’s
shipyards, such as Hanwha Ocean and HD Hyundai Heavy Industries, has cast the
spotlight on safety management.
/// Air Cargo News ///
Jewar airport gears
up for trial runs by June
The Noida International Airport (NIAL) announced on Tuesday,
March 19, that trial operations at the upcoming Jewar airport are on track to
begin by June 2024.
NIAL, the nodal agency responsible for overseeing the
construction of the greenfield Noida International Airport in Jewar, has
informed the Uttar Pradesh government, in a recent meeting, that the runway
construction has been finalised, contributing to the overall 80 per cent
completion rate achieved thus far.
Financial progress and upcoming developments
NIAL further stated that it has utilised around Rs 7,371.51
crore from the total project budget of Rs 10,056 crore for the development of
the greenfield airport.
NIAL officials further stated confirmed the installation of
flight-related equipment at the runway and the air traffic control (ATC) tower
is scheduled for April 2024. Starting in July, the airport will experience the
full operation of two cutting-edge radars, marking a substantial improvement in
the airport’s operational capacity.
Initially, this advancement is expected to allow the scheduling
of 50 flights a day.
Focus on seamless connectivity
The state government has emphasised the importance of seamless
connectivity for the airport. Local agencies, including the Yamuna Expressway
Industrial Development Authority (Yeida) and NIAL, have been directed to
collaborate on the construction of a Metro line connecting the Noida airport to
Delhi and the National Capital Region (NCR). As per officials, Yeida has
already engaged the Delhi Metro Rail Corporation (DMRC) to prepare a detailed
project report (DPR) for a feasibility study on the Metro line.
Beyond metro: Exploring future mobility solutions
In addition to the Metro and road network, discussions are
underway to explore the implementation of a pod taxi system and a rapid rail
corridor to enhance connectivity between the airport and the wider NCR region.
These futuristic mobility solutions hold the potential to further streamline
passenger travel to and from the Jewar airport.
Specialist verticals drive up Cathay Cargo February volumes
Source:
Cathay Pacific CargoPharmaceuticals, perishables and machinery parts shipments
helped Cathay Pacific secure a small rise in air cargo volumes year on year in
February.
The airline carried 107,039 tonnes of cargo in February 2024, an
increase of 3% compared with February 2023. The month’s cargo revenue tonne
kilometres (RFTKs) increased 3.8% year on year.
However, the cargo load factor decreased by 7.5 percentage
points to 59.2%, while available cargo tonne kilometres (AFTKs) increased by
16.9% year on year.
In the first two months of 2024, the tonnage increased by 11.4%
against a 17.6% increase in AFTKs and a 7.5% increase in RFTKs, compared with
the same period for 2023.
Chief customer and commercial officer Lavinia Lau said: “For
cargo, demand was weaker in February, which was expected given the timing of
Chinese New Year, with tonnage down by 7% compared with the previous month.
“However, when compared with February 2023, tonnage was up by
3%. There was a healthy spike in demand before Chinese New Year, and although
demand from Hong Kong and the Chinese Mainland declined during the holiday
period, the impact was also less than in previous years.”
She added: “Taken across the two months, we saw good growth in
tonnage on long-haul routes from other markets in Asia, as well as on routes
from Hong Kong and the Chinese Mainland.
“We observed encouraging growth in special products such as
pharmaceuticals, perishables and machinery parts. Overall for January and
February combined, our cargo performance has met expectations, with increased
tonnage carried compared with the same period last year.”
Looking ahead, the carrier is expecting demand “pick up towards
the second half of the month as we approach the end of the first quarter”.
“E-commerce continues to drive demand out of Hong Kong, although
we maintain a balance in our tonnage with the wide range of freight solutions
we provide to customers to meet their cargo requirements,” the carrier added.
Cathay Pacific handled
1.4m tonnes of cargo last year, which is a 19.6%
improvement on 2022 when Covid-related lockdowns resulted in freighter and
passenger flights being cancelled due to crew restrictions.
FedEx expands Shenzhen airport facility
Photo: FedEx
FedEx Express has upgraded its Shenzhen Baoan International Airport gateway facility in Shenzhen, China by renovating and expanding the import warehouse to improve import operations and provide customs clearance efficiency for customers in the Southern China region.
“As a city that has pioneered cutting-edge economic and social
innovations in China, Shenzhen has always been important to our development
strategy,” said Robert Chu, vice president, operations, FedEx China.
“The expanded gateway will further optimize our customs
clearance process in Shenzhen and southern China. As it creates a smarter
supply chain for the Guangdong-Hong Kong-Macao Greater Bay Area and other
regions, it will provide customers with an efficient and smooth customs
clearance experience, enhancing their competitiveness in the international
market.”
The Shenzhen facility is one of four major FedEx international
gateways in China. It is is primarily responsible for handling import and
export packages for multiple cities in south China and some areas in
southwestern China.
This year marks the 40th anniversary of FedEx operations in
China. From the first international express company to operate cargo flights at
Shenzhen Baoan International Airport, FedEx now operates 10 international
flights in Shenzhen per week, connecting Asian and American markets.
Last July, FedEx upgraded its export service for high-value
shipments in south China, “reducing the transit time of Category D shipments
from south China to the Americas through the Shenzhen Gateway by at least one
day for regional customers”, said the company.
FedEx said it will continue to improve its facilities in
Shenzhen, explore and invest in new technologies to improve operational
efficiency, and further reduce customs clearance times.
IAI chief executive Boaz
Levy and others at IAI. Photo IAI.
Israel Aerospace Industries (IAI) has launched a ‘Global Control
Center’ (GCC) system that aims to help reduce the freighter conversion
timeframe.
The GCC system has been developed for managing and monitoring
major projects, most notably the international aircraft conversion programmes
that IAI conducts in Israel and around the world.
Developed in-house, the now fully operational GCC system is
expected to help reduce the conversion time of each aircraft. It is designed to
optimise all logistical processes and allows for targeted and horizontal
management of errors or challenges.
The system also “offers the ability to present the conversion
process in real-time to the company’s customers – both new and existing – in a
way that was not previously possible and with a degree of detail that was until
recently considered impossible”, explained IAI.
GCC is managed from an advanced control and monitoring centre
located at IAI’s facility.
IAI chief executive Boaz Levy said: “IAI is delighted to launch
the GCC system and mark its entry into full use in the company’s aircraft
conversion programs. This is indeed a defining moment that fulfills the goals I
set when I began my tenure as CEO of IAI to both increase profitability and
improve efficiency and transparency for our customers.
“We expect the system will have a great impact on our
activities, both internally and externally, first in the aviation sector and
then in other IAI activities.”
Shmuel Kuzi, vice president and general manager of IAI’s
Aviation Group, added: “This innovative system will optimize IAI’s conversion
programs in an unprecedented way while providing full transparency to the
company’s customers.
“Now fully operational, we anticipate a reduction in the working
time on each aircraft and to improve the response to our customers while
allowing new customers to share in the success and enjoy IAI’s converted
freighters.”
American Airlines Cargo:
flying fish from Japan
Source:
American Airlines Cargo
American Airlines Cargo has flown record numbers of valuable koi carp from Japan as demand for the prized fish continues to rise.
The carrier said that the popularity of the fish has grown as ornamental fishkeeping expands globally, particularly in Hong Kong, the US, China, Germany, the Netherlands and Indonesia, which accounts for some 60% of their export value.
Approximately 55% of koi breeders are in Niigata Prefecture, 250km north of Tokyo, with most of American’s export business of koi coming from this region.
In 2023, the American Airlines Cargo team in Japan transported koi in record volumes of more than 19,100 kgs to Los Angeles International and 9,600 kgs to Dallas Fort Worth alone.
“These living works of art are beautiful creatures and require
highly specialized knowledge and training in order to ship them. Our dedicated
team under Keisuke Morita are true experts in their field,” said Emma Oliver,
director cargo sales Europe, Africa & Middle East (EMEA) and Asia Pacific
(APAC).
“The transportation of the Nishikigoi must be on direct flights
due to their sensitivity, with great precautions taken to tailor their travel
accommodations to their oxygen needs. I am proud of our teams that are trained
to handle these shipments with the utmost care and expertise.”
The ornamental fish are highly prized by collectors and
specimens can grow to more than 100 cm in length and be valued at $2m each.
The fish require “special handling and care when travelling by
air as they are transported from native Japan to aqua culturists who import koi
for collectors”, the carrier said.
American currently operates two direct flights daily to Los
Angeles International and Dallas/Fort Worth International Airport (DFW) from
either Haneda Airport (HND) or Tokyo-Narita International Airport (NRT).
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
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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