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 16, 2024.
:: Today’s Exchange Rates ::
Source : The
Economic Times RATES
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
83.45 |
0.019997 |
0.023968 |
83.44 |
83.43 |
83.42- 83.46 |
|
|
1.0657 |
0.0014 |
0.131552 |
1.0648 |
1.0643 |
1.0632- 1.0665 |
|
|
104.1922 |
-0.070297 |
-0.067423 |
103.9457 |
104.2625 |
103.9263- 104.2391 |
|
|
88.9156 |
-0.018097 |
-0.020349 |
88.86 |
88.9337 |
88.8358- 89.004 |
|
|
153.829 |
0.598999 |
0.390915 |
153.10 |
153.23 |
152.982- 153.97 |
|
|
1.2487 |
0.0035 |
0.281078 |
1.2449 |
1.2452 |
1.2441- 1.2493 |
|
|
105.894 |
-0.144005 |
-0.135805 |
106.02 |
106.038 |
105.853- 106.07 |
|
|
0.5425 |
-0.0031 |
-0.568178 |
0.5443 |
0.5456 |
0.5421- 0.5443 |
/// Sea Cargo News ///
After Chabahar, India secures rights to operate Sittwe Port in Myanmar
India has secured rights to operate its second
overseas port at Sittwe in Myanmar, following the Chabahar Port in Iran. The
Ministry of External Affairs (MEA) has approved a proposal for India Ports
Global (IPGL) to take over the operations of the entire port located on the
Kaladan River.
India Ports Global Limited (IPGL) is a joint venture between Jawaharlal Nehru Port Trust (JNPT) and Deendayal Port Trust (Erstwhile Kandla Port Trust). It was created and incorporated in January 2015 under the Companies Act, 2013, as per directions of Ministry of Shipping (MoS), for development of ports overseas.
The Ministry of Shipping has
presently assigned IPGL the task of equipping and operation of
container/multi-purpose terminals at Chabahar Port in Iran. The Sittwe Port is
part of the Kaladan multi-modal transit transport project.
The project aims to connect the
eastern Indian seaport of Kolkata with Sittwe seaport in Myanmar by sea, and
further link Sittwe Port to Paletwa in Myanmar via Kaladan river waterway, and
connect Paletwa to Zorinpui in Mizoram through a road component.
This link will not only offer an
alternative route for shipping goods to the northeastern states, but will
significantly reduce the cost and distance from Kolkatta to Mizoram and beyond.
It will also reduce dependency on the Siliguri Corridor, known as the chicken’s
neck, which is squeezed between Bhutan and Bangladesh.
Last year in May, Union Minister
Sarbananda Sonowal and Myanmar’s Dy. Prime Minister Admiral Tin Aung San
jointly inaugurated the Sittwe Port and welcomed the first Indian Cargo
Ship.
Adani's mega port can attract world's
giants
When Zhen Hua 15 — a heavy load
cargo carrier sailing from the East China sea — unloads at Vizhinjam port this
Sunday, it’ll do more than just set down the site’s first gigantic cranes.
It’ll also put India on the map for world’s biggest container ships.
Located near the southernmost
tip of the country, the Vizhinjam transshipment container port — the first of
its kind in India that will be inaugurated on Oct. 15 — will allow India to
grab a bigger slice of the international maritime trade currently dominated by
China.
It will also bolster its
aspirations to be an alternative manufacturing hub by reducing logistics costs
for cargo coming to and from the country. The new terminal will be another
feather in the cap of Gautam Adani’s conglomerate, which faced a scathing short
seller attack in January alleging corporate malfeasance — charges the Adani
Group has denied.
With a dominance that already
spans ports, mines, airports and power utilities, Vizhinjam will further cement
the billionaire’s status as India’s infrastructure king.
World’s Factory
Nepal proposes customs pact with India to
curb border trade offences
Nepal has proposed a customs
agreement with India that will enable exchange of information which could help
in preventing and reducing customs related offences across the border. India is
Nepal’s largest trading partner and shares a border of over 1850 km with five
Indian states – Sikkim, West Bengal, Bihar, Uttar Pradesh and Uttrakhand.
Since most of the trade takes
place through land, the instances of offences are high and the Nepalese
proposal (once accepted by India) could reduce them. “We have proposed the
customs agreement and if it is is agreed upon and signed it will reduce customs
related offenses,’’ said Ram Prasad Ghimire, revenue secretary of the Ministry
of Finance in Birgunj on Sunday.
India hasn’t yet responded on
the proposal, but sources say that any proposal that will help in curbing
offences across the border, is likely to be considered and implemented as it
works in favour of both nations. In December, 2023, India exported $603 million
worth goods to Nepal and imported $77.7 million from Nepal.
Meanwhile, at present Nepal is
imposing 50% penalty if a mismatch is noticed between the Invoice bill and
custom records. Custom Rules between India and Nepal are frequently reviewed
and changed.
“Since Nepal is a landlocked
country, their international trade too transits from India – mainly through
Indian ports in Haldia and Kolkata in West Bengal. While since 2016
Visakhapatnam Port too is bringing in freight from Nepal. From these ports the
goods are shipped through roadways or railways to Nepal’s border customs,”
according to Nepal Ministry of Commerce, Industries and Supplies (Trade and
Exchange Promotion Centre).
As of now, for goods that Nepal
imports from India, the check lists includes an authority letter by customs
agent, delivery order in case of inland clearance depots at Birat Nagar,
Birgunj and Bhairahawa. Besides an invoice is required along with a Nepalese
Custom Declaration, a packing list. If the agreement that Nepal is proposing is
agreed upon then there can be checks imposed on all the mandates for export and
import, which is expected to prevent offences, said a source.
As the Chittagong Port Authority
(CPA) continue to grapple with operational disruptions caused by significant
influx of containers and cargo, it has issued an urgent appeal to businesses to
promptly collect their imports, even during public holidays.
The CPA emphasised the importance
of keeping a smooth supply chain of essential commodities and stable prices,
particularly during Eid-ul-Fitr holidays.
In a letter addressed to the
Chittagong Chamber of Commerce and Industry (CCCI), the Bangladesh Garment
Manufacturers and Exporters Association (BGMEA), and the Customs Agent
Association, the CPA highlighted the current challenge of approximately 26,000 twenty-foot
equivalent units (TEUs) of full containers and a substantial volume of
un-stuffed cargo occupying port yards and various cargo freight station (CFS)
sheds.
This congestion has
significantly impeded port’s operations. To mitigate these disruptions and
ensure uninterrupted loading and unloading of containers, the CPA underscored
the need for expedited cargo delivery from both port yards and CFS facilities.
Furthermore, the CPA also
stressed the importance of collecting containers holding raw materials for the
garment industry, hazardous cargo and frozen food on weekdays and public
holidays to alleviate congestion.
The CPA emphasised that if
importers felicitate timely cargo collection and maintain operational
warehouses before and after Eid, the port can effectively manage the influx of
ships and containers using existing infra- structure.
Additionally, the port authority
affirmed its readiness to provide round the clock container and cargo delivery
services. Currently, the port’s capacity
of 53,518 TEU is strained with approximately 29,056 TEUs occupying the yard
space, as per reports.
India's coffee exports rise 13.35 pc to 1.25 lakh tonnes in January-March
Coffee shipments from India rose
13.35 per cent to 1,25,631 tonnes during January-March period of this year on
higher demand for Robusta coffee, according to the official data. The country
had exported 1,10,830 tonnes of coffee in the same period in 2023.
India, Asia's third-largest
producer and exporter, grows Arabica and Robusta varieties of coffee. Arabica
coffee bean has lesser caffeine content than the Robusta. Arabica has a sweet
and smoother taste, while the Robusta is generally more bitter and harsher on
the taste buds.
According to the Coffee Board of
India's latest data, export of Robusta coffee bean rose by 18 per cent to
69,637 tonnes in the first quarter of the 2024 calendar year from 59,050 tonnes
in the year-ago period. However, the shipment of Arabica coffee bean declined
to 13,419 tonnes from 15,468 tonnes in the said period.
Instant coffee exports rose
16,218 tonnes during January-March of this year as against 15,238 tonnes in the
year-ago period, while re-export of coffee also increased to 26,239 tonnes from
20,952 tonnes in the said period.
In terms of value, total coffee
exports were at Rs. 3,644 crore during January – March 2024, higher than Rs.
2,604.44 crore achieved in the year ago period. The unit value realisation was
Rs. 2,90,057 per tonne.
Italy, Russia, the UAE, Germany
and Turkey are the major coffee export destinations for India.
In its post blossom estimate,
the board has projected the country’s total coffee production at 3,74,200 tons
for the 2023-24 marketing year (October – September), higher than the actual
output of 3,52,000 tons in the previous year.
In the full 2023 calendar year,
India’s coffee exports had declined by 5.4 percent to 3.77 lakh tons.
End-April target to reopen Port of Baltimore to smaller container ships
The US Army Corp of Engineers
(USACE), the agency responsible for maintenance of waterway infrastructure in
the States, has announced a tentative target date of end April for opening a
channel with a 35-foot depth (10.6 metres). While not supporting transits for
the deepest draft containerships, bulkers and tankers, this depth would smaller
containerships of circa 4,500 teu to enter the port.
USACE has said: “After detailed
studies and engineering assessments by local, state and federal organizations,
in collaboration with industry partners, USACE expects to open a limited access
channel 280 feet wide and 35 feet deep, to the Port of Baltimore within the
next four weeks – by the end of April.
This channel would support
one-way traffic in and out of the Port of Baltimore for barge container service
and some roll on/roll off vessels that move automobiles and farm equipment to
and from the port.” Automobile and ro-ro traffic has been a mainstay of the
port.
King Abdul Aziz Port handles over 2.3 million TEUS in 2023
King Abdul Aziz PortLocated on the Arabian Gulf coast, King Abdul Aziz Port in Dammam achieved record-breaking throughput in 2023 and early 2024.
The port handled 2,305,811 TEUs in 2023, marking a 13.10% increase compared to 2,038,787 TEUs in 2022.
Additionally, it set a new record in March 2024 by managing 289,787 TEUs, highlighting the strength of its infrastructure and its ability to accommodate and manage growing container volumes while servicing various sizes of ships.
King Abdul Aziz Port spearheads a significant industrial and economic revitalization, solidifying the country's leadership in the maritime sector. It amplifies its capacity to drive the transportation industry and logistics services while affirming its pivotal role in economic and developmental spheres.
The port, operated by the Saudi Ports Authority (Mawani) boasts essential operational and logistical features, including 43 fully equipped berths capable of handling up to 105 million tons of cargo and containers. It encompasses specialized terminals, state-of-the-art facilities, and modern equipment tailored to manage diverse cargo types.
These attributes align closely with the objectives of the
National Transport and Logistics Strategy (NTLS), aimed at consolidating the
UAE's stature as a global logistics hub connecting three continents.
In addition, supporting facilities comprise a refrigerated cargo station, two cement stations for exporting black cement, clinker and white cement, a bulk grain station, a raw iron handling station, a marine manufacturing zone, and gas and petroleum platforms.
Evergreen suspends Haiti calls amid security concerns
Due to the escalating security concerns in Port-au-Prince in
Haiti and the heightened levels of street violence, Evergreen has decided to
suspend all calls at the port until conditions improve.
Consequently, the Taiwanese ocean carrier will also stop
receiving new bookings to or from Haiti until further notice.
"Under the current situation in Haiti, we suggest our
clients consider the potential impact on the cargo and the additional costs
involved. For cargo in transit, if Change of Destination (COD) is an option for
you, our local teams are always available and happy to support you," said
Evergreen in a statement.
The company noted it will continue to closely follow the
situation in Port-au-Prince.
Houthis
fire at MSC and Borealis ships
MSC Grace F / Source: VesselFinderTwo of MSC vessels and a boxship owned by UK tonnage provider Borealis Maritime were hit by Houthi missiles in the Red Sea on 6 April, as the rebels restarted attacks after several days of inactivity.
Houthi spokesperson Yahya Saree said on 7 April that “ballistic and winged” missiles were fired at the 1999-built, 4,056 TEU MSC Gina, 1991-built multi-purpose ship MSC Grace F and Borealis’ 2006-built, 3,534 TEU Hope Island.
MSC has not responded to Container
News’ request for comment.
MSC Grace F was attacked despite having an armed escort; the
ship departed Mogadiscio, Somalia, on 2 April, and is now in Mombasa, Kenya.
Vessel-tracking data shows that MSC Gina is now anchored outside
Berbera, Somalia. The ship, which had set out from Colombo, Sri Lanka, on 27
March, is expected to sail on to Djibouti.
Yahya claimed the MSC ships were attacked as they were “Israeli
ships” going to occupied areas in Palestine. According to UK Maritime Trade
Operations, Hope Island was targeted 60 nautical miles southwest of Al
Hudaydah, Yemen.
UKMTO said, “The master reported two missiles in the vicinity of
the vessel. The first was intercepted by coalition forces, the second impacted
the water a distance from the vessel. The vessel reports no damage and the crew
are reported safe.”
UKMTO said the Houthis attempted to attack Hope Island again on
7 April, 59 nautical miles southwest of Aden, with the missile landing in the
water near the ship. Again, no damage to the ship was caused, and the crew was
unhurt.
Hope Island, which had set out from Jeddah, Saudi Arabia, on 4
April, continued on its voyage and is due to arrive in Mombasa on 16 April.
Hope Island was chartered out in November 2023 for a six-month
period to an undisclosed charterer, although S&P Global’s data indicates
that Italian operator Ignazio Messina fixed the ship.
US Central Command said that on 6 April, between approximately
10 am and 3 pm Yemen time, its forces destroyed one mobile surface-to air
missile system in Houthi-controlled territory of Yemen.
The US forces also shot down one drone over the Red Sea.
Additionally, at approximately 6 pm Yemen time, a vessel operated by Western
forces detected and successfully engaged and destroyed one inbound anti-ship
missile.
MSC faces financial penalty of over US$63 million relating to reefer
overcharges
MSC Lily / Source: VesselFinder
Mediterranean Shipping Company is facing a fine of at least US$63 million after the US Federal Maritime Commission (FMC) accused the world’s largest liner operator of contravening the Shipping Act.
The quantum of the penalty was disclosed after the FMC commenced investigations in August 2023, after several of MSC’s customers disputed a substantial amount of charges, including for detention and demurrage that they were asked to pay. These charges go as far back as 2017.
In documents served on MSC on 4 April, the FMC’s Office of Enforcement asserted that the Swiss-Italian carrier undertook unreasonable and unfair practices that did not facilitate or “ensure an efficient, competitive, and economical transportation system in the ocean commerce of the United States.”
The FMC has accused MSC of failing to audit and reconcile its
billing processes, resulting in overcharges relating to at least 2,629 reefers.
It called the overcharges “a deliberate act in flagrant contravention of the
Shipping Act or a grossly negligent accounting error that MSC should have been
aware of and more proactive in resolving”.
The Office of Enforcement said, “For years, MSC used its market
power and wielded heavy-handed tactics to define standard bill of lading terms
such as ‘merchant’ to justify billing nonconsenting and non-contracting third
parties for detention and demurrage. In this case, MSC invoiced third parties
listed as ‘notify parties’ found on its standard bill of lading, regardless of
their contractual or beneficial cargo status.
“Instead of working to bill the proper party, MSC had a policy
of invoicing the ‘notify party’, which effectively turned many third parties
into its unwilling and nonconsenting billing departments.”
/// Air Cargo News ///
Embraer completes first flight of E190 E-Freighter conversion aircraft in Brazil
The
first E190F, a converted jet from passenger transport to freighter
(E-Freighter), has successfully completed its first flight in São José dos
Campos, Brazil. The Embraer team flew the E-Freighter jet for around two hours,
carrying out a complete evaluation of the aircraft, which will continue testing
before entering operation. The aircraft belongs to Regional One, a leasing
company from the United States.
“The
E-Freighter program opens a new business opportunity for Embraer, meeting
e-commerce’s growing global demand for cargo transport and matching the
high-tech E-Jets family to an unbeatable operational performance,” says
Francisco Gomes Neto, President and CEO of Embraer. “We are very pleased with
E190F’s and E195F’s fast progress during the testing period. These jets will be
important tools for our customers and allow them to work with more agile and
decentralized deliveries.”
The
first flight is part of a series of evaluations that Embraer is conducting
before the E-Freighter jets enter into operation. The aircraft has already been
successful in both ground pressurization and cargo loading tests.
E-Jets
converted to freighters will have over 50% more volume capacity, three times
the range of large cargo turboprops, and up to 30% lower operating costs than
narrowbodies. If combining capacity under the floor and main deck, the maximum
structural payload is 13,500 kg for the E190F and 14,300 kg for the E195F.
Launched
in 2022, the E190F and E195F Passenger to Freight Conversions (P2F) program
involved a global network of more than 40 suppliers and more than 600 employees
that dedicated more than half a million hours to the E-Freighter.
Image:
Shutterstock
Global air cargo market demand rose 11% year on year for a third
consecutive month in March and it was no surprise that e-commerce and Red Sea
shipping disruption helped propel volumes.
Releasing its latest analysis, Xeneta said that the higher
volumes seen in the first quarter of the year have outpaced capacity growth,
which increased by 8% year on year.
This then produced a jump in the global dynamic load factor,
which is Xeneta’s measurement of cargo capacity utilization based on volume and
weight of cargo flown alongside capacity available.
Load factor in the opening three months of 2024 rose two
percentage points year on year to 59%, and March performance has shown similar
growth, with load factor climbing to 61%, said Xeneta.
“While this latest monthly data should be balanced against the
lower base recorded in the corresponding month of 2023, when we saw weakened
global manufacturing activities, Q1 2024 has still seen a surprisingly busy
airfreight market. The level of demand in the first quarter doesn’t indicate a
market which is running out of steam so far,” said Niall van de Wouw, Xeneta’s
chief airfreight officer.
Source: Xeneta
Xeneta noted the average global airfreight spot rate in March
increased 7% from the previous month to $2.43 per kg.
The Middle East and South Asia to Europe market continued to
lead the growth of air cargo rates in March as the influx of air cargo demand
caused by Red Sea concerns squeezed capacity on these lanes. The average spot
rate on this corridor was up 71% year on year.
The Middle East and South Asia to US air cargo market had an
average spot rate of $4.03 per kg in March, up 51% year on year.
In comparison, the air cargo spot rate from Europe to US was
less impacted by the Red Sea, increasing marginally month on month.
Meanwhile, the China outbound market experienced a decline in
its spot rate versus February 2024 as the market cooled down after the Lunar
New Year.
But the March China to Europe spot rate increased 5% over the
previous year, boosted primarily by e-commerce demand and the modal shift away
from the Red Sea.
Plus, growing e-commerce demand and delayed recovery of belly
capacity contributed to a 15% average jump in spot freight rates year on year
for the China to US market.
The South America outbound market registered the largest decline
among the top global air cargo corridors, said Xeneta. As floral market demand
eased, the South America to US air cargo spot rate dropped 7% year on year. The
South America to Europe market experienced a similar trend, with a fall of 11%
year on year in spot rates.
Xeneta also identified two trends related to spot rates. March
data shows freight forwarders continued to purchase a larger share of volumes
on the spot market as they kept their options open pending an anticipated
cooling down of the Red Sea disruption and to benefit from the traditionally
more imbalanced demand/supply ratio caused by the influx of airline belly
capacity at the start of summer schedules.
Source: XenetaIn addition to this, more shippers moved away from longer term global air cargo contracts to short-term capacity commitments in the first quarter. Three-month contracts accounted for 41% of all newly negotiated contracts in this quarter, up 18 percentage points from the previous quarter. The preference for six-month contracts declined 23 percentage points versus the previous quarter, pointed out Xeneta.
“The air cargo market has clearly enjoyed a
stronger-than-anticipated start to the year, but there’s a different quarter
coming along and more capacity coming in, so we do expect an overall downward
pressure on load factor and rates, aside from selected corridors where the
continuing rise of e-commerce and the residue of the Red Sea uncertainty will
continue to boost rate levels,” said van de Wouw.
“But this is now six months in-a-row that the air cargo market
has been stronger than we expected. When is it going to slow down? Only time
will tell but, right now, airfreight demand is surprisingly resilient.”
One Air commences 747F operations at East Midlands Airport
Photo: One Air
British cargo airline One Air has commenced 747-400 freighter
operations at East Midlands Airport (EMA) in the UK.
One Air’s first 747-400F flight into East Midlands arrived from
Hong Kong at the weekend with a 105-tonne payload.
The central UK airport will now be a regular origin and
destination point for One Air’s Boeing 747-400F services connecting Asia and
Europe as well as for ad hoc global charter services.
“East Midlands Airport has a lot of important plus points which
make it attractive for all-cargo operations, including the availability of
slots and fewer restrictions around night flying compared to other airports,”
said Chris Hope, One Air’s chief operating officer.
“EMA also has a very understanding and progressive attitude
towards freighter operators. As a growing British airline, we look forward to
establishing our presence at EMA and supporting our freight forwarding,
logistics and charter clients moving goods to and from the UK.”
Heathrow-airport hubbed One Air launched
in April last year with a leased 747-400 freighter
after being awarded its Air Operators’ Certificate by the UK Civil Aviation
Authority (CAA).
Then in July 2023, the freighter operator carried out its inaugural
flight, a charter operation for client Shandong Glory between the UK
and Jinan-Shandong.
Following this, in December last year, the carrier added a second 747-400F, acquired
on a long-term lease. The airline said at the time that it planned to add a
third 747-400F to its operations in 2024.
The company has been flying charters between Europe and
China/Hong Kong on behalf of freight forwarders and charter broker customers
since its launch.
As of late last year, the airline said it was hoping to expand
its flights to Hong Kong into a daily operation and was working to achieve a
licence for long-term operations to China.
In May 2023, the freighter operator also filed
an application with the US Department of
Transportation to operate cargo charter flights between the US and UK.
The carrier was subsequently awarded a two-year operating permit
by the US Department of Transportation.
EMA offers one-stop connections to 185 of the world’s largest
cities, including New York, Singapore, Dubai, Hong Kong, Tokyo, Paris, and
Mumbai, and features an express airfreight hub.
The airport handles the equivalent of more than one million
packages every night, and its cargo operation provides support to regional
businesses, including those in the advanced manufacturing, aerospace,
pharmaceuticals, and automotive sectors.
EMA’s commercial director Chris Lane commented: “We’re
absolutely delighted to welcome One Air to East Midlands Airport. They bolster
what is already a highly successful, nationally significant cargo operation
which benefits from a strategic central location, fewer restrictions than many
other airports, and a team who are totally dedicated to providing a top-class
service.
“We hope this is the start of a long-standing partnership with
One Air to help us continue to provide seamless trade that powers the UK.”
Alibaba withdraws Cainiao IPO plans
Cainiao
Smart Gateway. Photo: AlibabaE-commerce giant Alibaba Group has decided to cancel plans to
place its logistics subsidiary on the Hong Kong Stock Exchange and withdrawn
its initial public offering (IPO).
Alibaba said that the move would allow it to align Cainiao to
realise strategic synergies with online shopping platforms Taobao and Tmall
Group and Alibaba International Digital Commerce Group as well as “support
Cainiao to execute a long-term strategic expansion of its global logistics
network”.
As well as withdrawing the IPO plans, Alibaba said that it
planned to offer to buy all shares in the company from minority holders.
The Group will offer $0.62 per share, representing a total
consideration of $3.6bn. “Cainiao shareholders may choose to accept the offer
and sell their shares to Alibaba Group for cash consideration or continue to
own Cainiao shares,” the company said.
Alibaba Group owns approximately 63.7% of the fully-diluted
equity interest in Cainiao.
Reports
suggest a Hong Kong market slump may also have played a role.
It is the second IPO the company has cancelled after withdrawing
its plans for its cloud unit. The
company filed for the IPO in September last year. It hoped to raise as much as
$1bn through the IPO.
The move was part of efforts to restructure the company that
will split
its business into six units each to be managed by its
own chief executive and board of directors.
This would allow the units to raise funds through share
offerings, the company said. Cainiao was
expected to be the first of the units to go public.
Vaayu delivers world’s second A320P2F to Sky Vision
Airlines
Copyright:
tratong/ ShutterstockLessor 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.
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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