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  20,  2024

Today’s Exchange Rates

 

 

CURRENCY	PRICE	CHANGE	%CHANGE	OPEN	PREV.CLOSE	DAY's LOW-HIGH
USD/INR	85.095	0.005005	0.005882	85.07	85.09	85.07- 85.105
EUR/USD	1.0361	-0.0002	-0.019291	1.0363	1.0363	1.0359- 1.0369
GBP/INR	106.2107	-1.505501	-1.397655	106.2112	107.7162	106.1583- 106.2516
EUR/INR	88.1736	-0.411903	-0.464978	88.1781	88.5855	88.142- 88.2077
USD/JPY	157.094	-0.346008	-0.219772	157.44	157.44	156.841- 157.925
GBP/USD	1.2481	-0.0021	-0.167972	1.2502	1.2502	1.2475- 1.2508
DXY Index	108.447	0.039001	0.035977	108.484	108.408	108.381- 108.484
JPY/INR	0.5416	0.0003	0.05542	0.5404	0.5413	0.5387- 0.5425

 

///                   Sea Cargo News            ///

Guangzhou Shipyard delivers advanced LNG-powered car carrier

On December 12, Guangzhou Shipbuilding International, a subsidiary of China State Shipbuilding Corporation, named and delivered the 7,000-car LNG dual-fuel powered vehicle carrier (PCTC) "Xiangjiangkou" built by CITIC Financial Leasing, according to CSSC's release. This is the 10th car carrier to be delivered by Guangzhou Shipyard International in 2024.

After delivery, the ship will be chartered by Guangzhou Ocean Automobile Shipping Co., Ltd., a subsidiary of COSCO SHIPPING Special Transport, and will be put into the Persian Gulf route from China to the Middle East to serve countries along the "Belt and Road". 

Through the "strong alliance", Guangzhou Shipyard International, CITIC Financial Leasing and COSCO SHIPPING Special Transport have further enhanced the international competitiveness of "Made in China" and "Created in China", and formed an industrial scale of “Guangzhou Shipyard, Guangzhou Charter, Guangzhou Operation, Guangzhou Manage- ment, Guangzhou Port Loading and Chinese Vehicles Going Global, effectively promoting the “Chinese Brand” to shine around the world.

Somalia, Ethiopia agree to work together to resolve Somaliland port dispute

Somalia and Ethiopia said they would work together to resolve a dispute over Addis Ababa's plan to build a port in the breakaway region of Somaliland, which had drawn in regional powers and threatened to further destabilise the Horn of Africa. The two countries' leaders said they had agreed to find commercial arrangements to allow landlocked Ethiopia "reliable, secure and sustainable access to and from the sea" after talks on Wednesday mediated by Turkish President Tayyip Erdogan. 

The meeting was their first since January when Ethiopia said it would lease a port in Somalia's breakaway northern region of Somaliland in exchange for recognising the area's independence. Mogadishu rejected the deal and threatened to expel Ethiopian troops who were stationed in Somalia to fight Islamist insurgents.

Buenos Aires terminal receives certification for Neo-Panamax ships

TecPlata CEO Juan Pablo Trujillo announces TecPlata’s latest milestone.

International Container Terminal Services Inc. (ICTSI)-owned TecPlata, Argentina’s major container terminal, has received certification from the Argentine Naval Prefecture to conduct docking manoeuvres for Neo-Panamax vessels.

This accreditation makes TecPlata the first terminal in Buenos Aires and across the country capable of handling these massive ships, enhancing the competitiveness of Argentina’s regional foreign trade.

“With this milestone, TecPlata has restored Argentina’s rightful position as a leader in international trade,” commented Juan Pablo Trujillo, CEO of Tecplata.

This certification underscores TecPlata’s state-of-the-art infrastructure and technical capacity, positioning it as the only dock in Buenos Aires designed to accommodate the future deepening of the Navigable Waterway and anticipated growth in Argentine exports over the coming years.

Throughout 2024, TecPlata has reaffirmed its leadership in maritime logistics innovation, implementing key developments such as dredging the access channel to the port and becoming the first carbon-neutral terminal in Argentina.

With the new certification for Neo-Panamax docking, the terminal further strengthens its commitment to boosting Argentina’s economy by improving access to global markets, offering a top-tier value proposition in the nation’s port sector.

Previously, Argentina was limited to receiving cargo through smaller feeder vessels. TecPlata has changed that, enabling direct service from giant 366-meter-long, 51-meter-wide ships to transport Argentine exports to the world’s major markets. With this achievement, TecPlata has re-established Argentina’s prominent position in global trade.

Pakistan to build first major commercial ship after 40 years

Karachi Shipyard

The Karachi Shipyard will build Pakistan’s first major commercial ship after four decades, according to local media.

The 1,100 TEU Container Ship Project, which was on hold for nine months, has been revived by the Special Investment Facilitation Council (SIFC), a hybrid civil-military government body formed in 2023 to facilitate foreign investment in Pakistan’s key economic sectors.

The cargo shipbuilding project will see collaboration between the Pakistan Navy, Karachi shipyard, and Pakistan National Shipping Corporation.

US-Asia container trade on a record-breaking track

The container imports of the United States from 10 major Asian economies reached 1.72 million TEUs in November, marking a year-on-year increase of 15.3% and setting a new November record, according to data from Descartes Datamyne based on US Customs and Border Protection (CBP) statistics.

However, compared to October, import volumes declined by 6.6%. For the first 11 months of 2023, imports totalled 18.59 million TEUs, translating to an increase of 16.4%, nearing the record set during the same period in 2021. Overall, US container imports in November stood at 2.39 million TEUs, up 14.3% year-on-year.

Imports by Origin

Among the 10 Asian economies, the largest contributors to the US imports were:

·        China: 983,573 TEUs (+15.8%)

·        South Korea: 193,858 TEUs (+10.9%)

·        Vietnam: 177,978 TEUs (+20.5%)

·        India: 81,384 TEUs (+29.5%)

·        Taiwan: 76,978 TEUs (+19.3%)

·        Japan (8th largest): 37,216 TEUs (+6.5%)

Exports to Asia

Meanwhile, US container exports to the 10 Asian economies totalled 464,131 TEUs in October, representing a 2.1% decrease from September and a slight 0.3% drop from October 2023. Key export destinations included:

·        China: 105,746 TEUs (-22.1%)

·        South Korea: 65,203 TEUs (+36.6%)

·        Vietnam: 49,748 TEUs (+22.2%)

·        Indonesia: 48,792 TEUs (+12.1%)

·        Japan: 47,374 TEUs (-2.3%)

These statistics reflect robust US-Asia trade flows, with imports maintaining strong year-on-year growth despite recent month-to-month fluctuations.

///                   Air Cargo News            ///

Increased scrutiny of ecommerce may threaten high-flying air cargo

The strong year in air cargo has been credited to ecommerce – but “traditional” air cargo might also see a bump next year, according to Xeneta. The non-ecommerce market, B2B goods shipped by air, “remained muted in 2024, but that is likely to change in the year ahead”, noted the benchmarking platform. 

Xeneta said, in its 2025 outlook, that semi-conductors – particularly in regards to AI-related products – will be one sector in demand in 2025. Semi, the industry association for semi-conductors, has estimated that global shipments of silicon wafers, a key ingredient, will grow 10% next year, following a 2% fall this year. 

“With the majority of semiconductor materials shipped by air freight, this will fuel the growth of air cargo demand, particularly on corridors out of Asia,” noted Xeneta.

Air China Cargo plans IPO to raise funds to increase freighter fleet

Air China Cargo is planning a ¥12bn ($1.65bn) IPO on the Shenzhen Stock Exchange to expand its freighter fleet, among other plans. The carrier’s cargo arm issued its listing prospectus on Wednesday, detailing plans to use ¥8.5bn ($1.17bn) of the proceeds to buy freighters and spare engines and to facilitate digitalisation. 

The remainder will be used as working capital. Air China Cargo, which hass 12 freighters – nine B777Fs and three B747-400Fs – also carries belly cargo in all Air China passenger aircraft. The company has appointed CITIC Securities to oversee plans to issue 1.32bn shares prior to any over-allotment. 

Established in 2003, Beijing-headquartered Air China Cargo’s network covers six continents , with flights from China to Frankfurt, Amsterdam, Liege, New York, Chicago, Los Angeles and elsewhere in Asia.

Peso and Air One gain court approval for takeover of Air Belgium’s cargo business

UK cargo firm Air One International Holdings and Dutch company Peso Aviation Management have gained court approval for their proposed takeover of struggling Air Belgium’s cargo business. The Business Court of Walloon Brabant today approved the acquisition, which the partners say is a significant first step to secure the future of Air Belgium’s cargo operations. 

The next step in the acquisition process involves securing the required operating and aviation licences from the Belgian aviation authorities. Once completed, Air One Belgium’s strategy will see the integration of two additional Boeing 747-400F aircraft into its fleet, which currently consists of two B747-8F and two A330-200F aircraft. 

“This enhanced fleet of six freighters, supported by existing charter contracts, will ensure seamless operations and position the company to meet growing customer demand,” the partners said.

To complete the purchase, a new company, Air One Bilgium (AOB), is being created. This entity will be 51% by Peter Scholten of Peso and 49% owned by Air One.

 

 I hope you have enjoyed reading the above news letter.                                                    

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 1Branches  : Chennai, Bangalore, Mumbai, Coimbatore, Tirupur and Tuticorin.

Associate Offices : New Delhi, Kolkatta, Cochin & Hyderabad.

 

 

Thanks  to  :  Container  News,  Indian Seatrade  &  Air Cargo News.