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 April 11, 2024.
:: Today’s Exchange Rates ::
Source : The
Economic Times RATES
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
83.19 |
-0.129997 |
-0.156022 |
83.22 |
83.32 |
83.1525- 83.2375 |
|
|
1.0861 |
0.0004 |
0.036838 |
1.0857 |
1.0857 |
1.0848- 1.0866 |
|
|
105.6288 |
-0.019402 |
-0.018364 |
105.4961 |
105.6482 |
105.4208- 105.6371 |
|
|
90.3758 |
0.161804 |
0.179356 |
90.315 |
90.214 |
90.2357- 90.4103 |
|
|
151.828 |
0.068008 |
0.044813 |
151.76 |
151.76 |
151.685- 151.886 |
|
|
1.2698 |
0.002 |
0.157752 |
1.2678 |
1.2678 |
1.2669- 1.27 |
|
|
104.07 |
-0.078003 |
-0.074896 |
104.094 |
104.148 |
104.038- 104.166 |
|
|
0.5481 |
-0.0009 |
-0.16394 |
0.5494 |
0.549 |
0.5479- 0.5494 |
/// Sea Cargo News ///
Kolkata Port profit jumps 65pc to Rs 501cr in FY'24, records all-time high cargo handling
The 154-year-old Syama Prasad Mookerjee Port or Kolkata Port
recorded Rs 501.73 crore profit in FY'24, a 65 percent jump compared to that in
the previous fiscal.
The port said its net surplus in 2022-23 was Rs 304.07 crore. It also recorded an all-time high of 66.4 million tonnes of cargo handling in 2023-24.
The port which has Kolkata Dock
System (KDS) and Haldia Dock Complex (HDC) under its command recorded a
combined growth was 1.11 percent owing to trade disruptions in sea freight due
to geopolitical reasons. In 2022-23, the port had handled 65.66 million tonnes.
Chairman Rathendra Raman
attributed the rise in cargo handling amid disruptions to a series of strategic
initiatives implemented by the port to enhance productivity, safety measures,
business development, and overall capacity utilisation.
HDC's significant contribution
played a pivotal role in this achievement, with the complex handling 49.54
million tonnes in FY'24, representing an increase of 1.91 percent. Meanwhile,
KDS logged 16.856 million tonnes of cargo in 2023-24 compared to 17.052 million
tonnes in 2022-23.
Cochin Port registers record cargo throughput during 2023-24
The Kochi port under the Cochin
Port Authority (CPA) performed considerably well during the financial year
2023-24 registering a record cargo throughput of 36.32 million metric tonnes
(Mt), which is also the highest cargo traffic recorded at the port at a modest
growth of 3.01% over the previous financial year (2022-23).
The cargo profile of the port
continued to remain dominated by liquid bulk cargo and containers at 68% and
28% share respectively of the total cargo handled at the port. Dry bulk (3%)
and break bulk cargo (1%) constituted the remaining portion of the cargo
movement, said a communication from the port.
The annual traffic was led by an
impressive growth of 8.57% in liquid bulk cargo (24.83 million Mt), primarily
driven by crude, petroleum products, and liquefied natural gas (LNG).
A record 17.20 million Mt crude
and 5.86 million Mt petroleum products were handled at the port during the
year. The port also handled 1.13 million Mt of LNG, which is 18.58% higher than
the previous year.
India was the second largest
importer of ethane from the US, after China, last year aided by rising demand
for petrochemicals, lower prices of the commodity in the US and growing tanker
capacity. Ethane is used to produce plastics, anti-freeze and detergents.
The US, which has been exporting
ethane since 2014, witnessed its exports average at a record 4,71,000 barrels
per day (b/d) during 2023, which is a 57,000-barrel increase from the previous
record set the year before. “Strong ethane exports were driven by growth in
global petrochemical sector demand and rising tanker capacity.
Low prices for US ethane
compared with other feedstocks globally contributed to the record exports.
China imported 45 per cent of US ethane exports in 2023, followed by India (16
per cent), Canada (14 per cent) and Norway (10 per cent),” the US EIA said.
Ethane is used mainly as a
feedstock in the petrochemical industry to produce ethylene for making plastics
and resins. Ethane and steam are fed into an ethylene cracker
that heats the mixture to break down the ethane molecule to produce
ethylene and some other co-products.
The US started exporting ethane
in 2014 through a pipeline to petrochemical plants in Canada. Two years later,
it began exporting ethane majorly to European countries from marine export
terminals. By the end of 2022, the US was exporting ethane to nine countries,
including India.
Tesla begins making cars in Germany for export to India this year -sources
Tesla has begun production of
right-hand drive cars at its plant in Germany for export to India later this
year, three people aware of the company's plans told Reuters, as it moves ahead
with a possible entry into the world's third-largest car market.
A team from Tesla is expected to
visit India later this month to look at sites for a local car manufacturing
plant that would require an investment of about $2 billion, said two of the
three people, who declined to be named because the plans are not public yet.
India last month slashed the
import tax rate on certain electric vehicles if their makers invest at least
$500 million in the country and start production there within three years. The
move is a win for Tesla (TSLA.O), opens new tab, which had lobbied for months
for lower taxes, but faced resistance from local carmakers.
"The right-hand drive cars
which will be allocated to India, they have started building them," one of
the people said, with some cars due to be shipped to India by the end of the
year. It was not immediately clear which model Tesla plans to export to India.
It currently produces only the Model Y at its factory near Berlin.
Under the new Indian policy,
companies can import up to 8,000 cars a year at the lower tax rate. Tesla did not immediately respond to an email
seeking comment outside U.S. office hours.
The plans for shipments to India
are the indication of right hand drive (RHD) cars being produced in Berlin.
Tesla’s Shanghai plant, its primary export hub located nearer to right hand
drive markets, such as Australia and Japan, has so far handled production of
such vehicles.
Tesla is looking at the southern
state of Tamil Nadu, Maharashtra in the west and Modi’s home state Gujarat
which it expects to build in 2 years.
In January 2024, Tesla’s
Vietnamese rival VinFast (oTL.F) opens a new tab agreed to invest US$ 2 Billion
in India and started building an EV factory in Tamil Nadu state.
Potato export from India sees significant increase in January 2024
In January 2024, the export of
potato varieties for processing from India witnessed a substantial increase,
attributed to the Red Seas crisis and delays in receiving materials from
Europe. This situation has led to a higher international demand for Indian
potatoes.
Despite the export boom, India
faces domestic challenges, notably in Gujarat, where potato yields have been
lower than expected due to late blight diseases. The demand for processed
variety potatoes in India has also seen an increase, raising concerns over
potential shortages.
Similar agricultural challenges
are observed in Europe, with projections indicating a reduced potato harvest
for the upcoming season. This scenario suggests a potential global potato
shortage, with experts warning of price increases in the potato market. The
rise in shipping costs further complicates exports from India and Europe,
particularly to the Gulf and Far East regions.
Despite ban, India allows onion export to five nations
India has allowed onion exports
to a few countries on priority in response to diplomatic requests, but the
world’s largest exporter of the item will continue to ban overseas shipments
amid projections of lower output for two years in a row, an official said on
Wednesday.
The export ban imposed in
December 2023 came on the back of a domestic supply crunch and after a 40%
export tax failed to cool prices, which had more than doubled to reach ₹100 a
kilo in some cities.
The Union government has allowed
the export of 50,000 tonnes of onion to Bangladesh and 550 tonnes to Bhutan,
apart from 3,000 tonnes to Bahrain, 1,200 tonnes to Mauritius and 14,400 tonnes
to the UAE, the official said.
“These countries traditionally
depend on India for part of their onion supplies and some of them are our
immediate neighbours. So, they get priority,” the official cited above said.
New shipping service to enhance connectivity between Saudi and African ports
Maritime connectivity between
Saudi and African ports is set to improve with the introduction of a new
shipping service by German container transportation firm Hapag-Lloyd.
The new route, called JDX, will
connect the Jeddah Islamic Port to African harbors including Tangier in Morocco
and Damietta in Egypt, as announced by the Saudi Ports Authority, also known as
Mawani. The new connectivity will be facilitated through regular weekly trips,
with a capacity of up to 4,253 twenty-foot equivalent units.
This move aims to enhance trade
movement between Saudi ports and global counterparts. It also aligns well with
Mawani’s efforts to solidify the Kingdom’s position as a global logistics hub
bridging three continents. This initiative aims to enhance supply-chain
movement in line with the objectives of the National Transport and Logistics
Strategy and improve Saudi Arabia’s ranking in international indicators.
Wallenius Wilhelmsen could see $10m hit from car-carrier stranded at Baltimore
Wallenius Wilhelmsen could
suffer a $10m financial hit after the collapse of the Francis Scott Key Bridge
stranded its car-carrier Carmen in Baltimore harbour.
The Carmen was making
preparations to leave the port at the time of last week’s allision, which
caused the bridge to collapse, blocking the harbour access channel. “The
suspension of all vessel traffic into and out of the port of Baltimore until
further notice has obvious implications, both operational and financial,” said
Wallenius yesterday, estimating a $5m to $10m “aggregated provisional total
financial impact on ebitda”.
“The terminals in Baltimore Port
are open to road traffic and are fully operational, as are our processing
centres, despite vessel operations being suspended.
Cargo on the water bound for
Baltimore is being re-routed to other US ports, such as Newport News, Newark
and Savannah.”
A representative said, “We
typically make 150 port calls a year to Baltimore, so we diverting
originally Baltimore bound cargo to other US ports on a case by case
basis. The estimate assumes that the disruption will last for a month, although
the authorities have not yet settled on any sort of time line for the removal
of wreckage.
On Tuesday, the Key Bridge
Response 2024 group said they would establish a temporary channel to allow
vessels to pass. However, at a depth of just 3.35 meters, this could not
accommodate the Carmen’s draught of 8.7 meters.
Last week’s 7.4 earthquake which
struck northeast Taiwan has damaged some berths at Hualien port. The quake, the
most powerful to hit the island for 25 years, resulted in several wharfs
bulging at Hualien, according to Wilhelmsen Port Services.
The damaged berths are used for
sand, bulk cargo discharging, and cruise operations. One pier (pictured)
collapsed by about 50 cm, while authorities are checking for a suspected
rupture of an oil pipeline.
An entrance road to the port was
also damaged. As a result, port operations are currently suspended, and vessels
are only permitted to depart, not enter. Apart from Hualien, no damage has been
reported at other ports across Taiwan.
At least nine people were killed
and more than 1,000 injured when the quake hit 18km south of Hualien yesterday
morning. More than 90 people are still understood to be trapped in collapsed
tunnels and roads along the coastline.
/// Air Cargo News ///
Chinese airlines eye expansion and US allows more flights in
Suparna Airlines, formerly
Yangtze River Airlines, is to retire its 747-400Fs. It has three, one of which
is parked in Shanghai, while the other two are 16.8 and 32.7 years old,
according to aviation databases.
It said it would replace them
with up to 10 777Fs in the next three years, in a significant bet on cargo. It
also operates 10 737-800s. YTO Cargo Airlines, which operates 10 757-200Fs and
two 767-300Fs, has launched a Lanzhou (capital of Gansu in north-west China) to
Hong Kong.
Lanzhou, a heavy industrial and
petrochemical centre, is a major link on the Northern Silk Road and could
become a major hub on the New Eurasian Land bridge. SF Airlines has made its
first successful delivery by drone. The carrier plans a fleet of more than
1,000 large vertical take-off drones within 10 years.
They can carry more than 300kg
of cargo in a 2.3 cu metre space more than 500km. SF Airlines said the drone
operation had shortened delivery time by 70%.
Vaayu delivers world’s second A320P2F to Sky Vision Airlines
Lessor Vaayu Group has delivered the world’s second A320
passenger to freighter (P2F) aircraft to Cairo-based Sky Vision Airlines. This
is the second aircraft that UAE-headquartered Vaayu has leased after its first
A320P2F was leased to New Delhi-based Pradhaan Air Express, a sub-lessee of
Vaayu.
Vaayu
Group chairman and president Emad AlMonayea said: “Vaayu’s vision is to become
a significant player in the air cargo space in the years to come. Our second
aircraft is quite strategic considering the opportunities Middle East &
North Africa presents.”
Sky
Vision Airlines chief executive Amr Abd EL Zaher said: “We are happy to take
delivery of MSN 2724 with V2500 engines to start our cargo operations. “We are
pleased with the fact that Vaayu has joined us since they bring with them a
great record in the aviation sector. Their invaluable expertise and their
single-minded plans to increase cargo capacity bodes well for us.”
The
aircraft was converted by EFW, a joint venture (JV) between Singapore-based ST
Engineering and France-headquartered Airbus, and leased to Vaayu by Juniper
Aviation Investments, ST Engineering’s freighter aircraft leasing JV. “We are
extremely encouraged by the demand for the A320P2F, which is a clear testimony
of the versatility, benefits and value that the freighter platform brings to
the market,” said senior vice president and head of aircraft and freighter
leasing of ST Engineering Tan Boon Keng.
Vaayu
plans to expand its footprint in the air cargo space with the addition of
another A320P2F this year, which will enhance capacity and improve its network.
Hactl to tackle recruitment challenge with autonomous tractors
Source:
Hactl
Hong Kong cargo handler Hactl is aiming to introduce Autonomous
Electric Tractors (AETs) to its ramp operations later this year as it looks to
combat an ongoing recruitment challenge.
The handler has signed a Memorandum of Understanding (MoU)
with Westwell Holdings to collaborate on the introduction of the vehicles.
As well as towing dollies, the AETs will also automatically
couple and uncouple and adjust to their differing specifications.
The AETs will be progressively integrated into Hactl’s current
driver-controlled tractor fleet once testing and final on-site tuning and
mapping to Hactl’s specific requirements are completed.
They will initially tow loaded import ULDs on a 1 km route
between the outdoor ULD staging area and the main terminal ULD system intake
deck of SuperTerminal 1.
“AETs will be used on longer and more complex routes in due
course,” Hactl said.
The handler explained that one of the main reasons for deploying
AET’s is the ongoing challenge of recruitment faced by the airport industry.
Hactl chief executive Wilson Kwong explained: “Recruitment
for airport-related work and particularly airside work is becoming ever more
challenging.
“This means we must utilise our available workforce as
efficiently as possible and deploy them on those duties which make best use of
their experience, skills and abilities.
“After extensive investigation and research, we believe that the
work of operating towing tractors over set routes should now be feasible using
the latest autonomous vehicle technology and that this can be achieved without
compromising safety.
“Although driverless vehicles are becoming established
technology, Hactl is enhancing the concept with the addition of automated
functions specific to its needs.”
He added that the deployment of AETs is Hactl’s “first step in
the potential wider use of autonomous vehicles throughout its operations”. This is just the beginning,” said Kwong “We
are exploring additional applications for this technology with the aim of
further improving productivity and freeing up staff for more demanding duties
while continuing to reduce our environmental impact.”
The AETs have a range of up to 75 km per charge and will also
make a significant contribution to Hactl’s carbon reduction programme. “Safety
is the major consideration in operating the new vehicles,” Hactl said. “Each
AET is equipped with a highly-accurate GNSS system and uses multiple HD cameras
and LiDAR sensors to detect all objects and avoid collisions.
“The AETs have similar
capabilities to the current diesel-powered tractor fleet, but operational
speeds will be restricted to eight kmph as an additional safety measure.”
Etihad Cargo adds Boston service
Photo: Etihad CargoEtihad Cargo has expanded its US network with the introduction
of a new service to Boston, Massachusetts. The carrier’s inaugural flight on
the Abu Dhabi to Boston route arrived in Boston on March 31. The service will
see the airline operate four flights per week to Boston, which is Etihad
Cargo’s fourth US destination.
The new service will be operated on a Boeing 787-9 Dreamliner,
which will provide an additional cargo capacity of 50 tonnes per week.
Etihad Cargo said the service will focus on transporting
perishables, such as lobsters and seafood, as well as medical instruments,
pharmaceuticals, and aircraft parts. The airline’s US network includes double
daily flights to New York’s JFK airport, daily services to Chicago O’Hare (ORD)
and Washington, D.C. (IAD), and a weekly freighter service to Chicago.
This expansion brings the total number of flights Etihad Cargo
operates to the US to 33 per week. Stanislas Brun, vice president of cargo at
Etihad Cargo, said: “The introduction of the Boston route is a strategic
expansion of Etihad Cargo’s US network, offering more belly capacity to
partners and customers.
“Boston is an important destination for food and
pharmaceuticals, as well as a centre for innovation and development. Etihad
Cargo’s Abu Dhabi-Boston service will support the region’s export economy,
particularly in facilitating the global distribution of its world-class seafood
and breakthrough medical products, and further strengthen trade ties between
the US and UAE.”
Etihad Cargo recently expanded
its network with Worldwide Flight Services (WFS) to
incorporate all the carrier’s stations in the US.
Air Canada partners with SATS for return to Singapore
Source:
SATS
Air Canada has selected SATS to provide cargo handling services
at Singapore’s Changi International Airport as it returns to the airport for
the first time in over 30 years.
The Star Alliance airline will today launch four Boeing 787-9
flights a week connecting Vancouver and Singapore. The contract also includes
passenger and ramp services. The carrier
is hoping to increase the operation to five times per week in December.
The new route will provide the only non-stop service connecting
Canada and Singapore after Singapore Airlines stopped flying between the two
countries in December last year because of concerns over demand levels.
“SATS currently handles all the Star Alliance partners in
Singapore, enabling Air Canada the benefit of seamless passenger and cargo
connections beyond Singapore to other key airports across Southeast Asia,” the
handler said.
Photo: Air
PartnerGlobal aviation services group Air Partner has successfully transported specialist entertainment equipment following an urgent request that it said “sea freight could not have fulfilled in time”.
The dimensions and weight
of the cargo, which primarily consisted of seven tonnes of delicate wooden
stage walls, posed a “significant logistical challenge” as not all carriers
with similar aircraft weight capabilities are able to fit such oversized items,
stressed the charter specialist.
This difficult brief saw
the company select an A321 freighter – a specialised aircraft renowned for its
capacity to handle outsized bulky loads. The operation necessitated careful
planning and coordination to ensure safe and efficient loading procedures.
Pierre
Van Der Stichele, vice president of global cargo at Air Partner, commented: “Despite
the challenges inherent in transporting oversized cargo, particularly delicate
entertainment equipment, our dedicated team delivered a safe and timely outcome
for the client.
“By collaborating closely
with the carrier’s chief loadmaster, we meticulously assessed and completed the
feasibility of loading the 600×200 wooden walls onto the aircraft. This
successful operation not only met the client’s expectations but also showcased
Air Partner’s ability to tailor bespoke aviation solutions to meet the diverse
needs of its clients.”
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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