JUPITER SEA & AIR
SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91 98407 85202
Corporate News
Letter for Saturday - February 01, 2025
Today’s
Exchange Rates
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
86.61 |
-0.019997 |
-0.023083 |
86.63 |
86.63 |
86.585- 86.66 |
|
|
1.0371 |
-0.002 |
-0.192483 |
1.0391 |
1.0391 |
1.0366- 1.0413 |
|
|
107.592 |
-0.199898 |
-0.185448 |
107.6239 |
107.7919 |
107.468- 107.743 |
|
|
89.9589 |
-0.200798 |
-0.222714 |
89.9965 |
90.1597 |
89.8015- 90.2079 |
|
|
154.772 |
0.48201 |
0.312405 |
154.29 |
154.29 |
153.918- 155.021 |
|
|
1.2397 |
-0.0022 |
-0.177149 |
1.2419 |
1.2419 |
1.2388- 1.244 |
|
|
108.273 |
0.476006 |
0.441576 |
108.162 |
107.797 |
107.981- 108.366 |
|
|
0.5599 |
-0.0011 |
-0.196079 |
0.5617 |
0.561 |
0.5592- 0.5627 |
/// Sea Cargo News ///
HMM signs up to be
part of India's new Vadhvan port development
South Korean container line HMM has become Asia’s first major shipping line to put its name down to associate with the planned new Indian mega-port of Vadhvan. Yesterday HMM signed a Memorandum of Understanding (MoU) with Jawaharlal Nehru Port Authority (JNPA) to collaborate on the development of the port, which received the go-ahead from the Indian government last June.
“Under the MOU, HMM will support the development and operation of Vadhvan Port, a large-scale project by the Indian government to become one of the world’s top 10 container ports by 2040,” an HMM spokesman said.
At
full build-out, the port will have an annual handling capacity of 23m teu
across nine container terminals, and JNPT is understood to have inked
provisional agreements with a number of international terminal operators for a
public-private-partnership (PPP) model. They include DP World, APM Terminals,
PSA and CMA Terminals – all currently operating facilities in Nhava Sheva’s
port area.
However,
with a natural water depth of 20 meters, compared with the 15.5meters at Nhava
Sheva, the port could accommodate HMM’s 24,000 TEU vessels, and will offer
strong connectivity to India’s inland logistics network.
Next
month, HMM and ONE will jointly launch the India – North Europe Express (INX)
service which according to the eeSea liner database, will also include Yang
Ming – which would effectively make it a Premier Alliance product – and deploy
11 ships with an average size of 6,600 teus.
The
first sailing will be on February 05, departure of the 6,350 teu Hyundai
Oakland from Karachi, on a port rotation of : Karachi – Hazira – Mundra – Nhava
Sheva – Colombo – London Gateway – Rotterdam – Hamburg – Antwerp – Karachi.
The
aggressive expansion of India port capacity has been a key plank of the Port
officials to revitalise the country’s manufacturing sector, while at the same
time Nhava Sheva has effectively run out of space. Last year the port handled
7.05 Million TEUs, 11% more than in 2023 and around double the global market
growth average. However, terminal utilisation has breached 90% and new capacity
is urgently needed.
Carriers divert Indian cargo to avoid congestion worries at Colombo
With
capacity still a nagging concern at Sri Lanka’s Colombo port, container lines
are devising alternative supply chain solutions for Indian east coast shippers
historically relying on the transhipment hub.
MSC,
ONE and Maersk are already implementing those strategies, as the container
shipping industry races closer to new network alliances. MSC has opened a
dedicated feeder service from Haldia Dock in Kolkata to Vizhinjam, a new
transhipment gateway designed to counter the dominance of Colombo.
The
Haldia shuttle offers a 10-day sailing frequency, bundled with a stop at
Paradip port enroute. Container relays at Vizhinjam, which officially went
live last month after a five-month trial run, have gained considerable momentum
due to MSC’s growing interest.
The
carrier has extended its Jade and Dragon loops, covering
Asia-N Europe/Mediterranean trades, to Vizhinjam for regular scheduled
operations from next month.
Colombo
has had serious congestion issues over the past few weeks, forcing some vessels
to skip calls there due to excessive berthing delays and productivity concerns.
Persistent delays at Colombo in the past had also prompted Maersk to divert
Indian east coast cargo to Nhava Sheva by running block trains in association
with CONCOR, India.
Top companies evince interest in ₹7,056 crore outer harbour project at Thoothukudi re-tender
Large
companies like Adani Ports and Special Economic Zone, DP World, Jan De Nul,
Vedanta Group, JM Baxi & DBGT were some of the major players who have
evinced in the ₹7,056 crore outer harbour project at Thoothukudi for which a
re-tender was issued in December.
Meanwhile,
the Viability Gap Funding (VGF) for the project has been increased to make the
project attractive. Officials from the large companies participated in the
pre-bid meeting held last week, according to sources.
On
VGF, the RFP document said it would be limited to a maximum of ₹1,950 crore or
an actual quote, whichever is lower. However, the Detailed Project Report said,
“Government support as VGF for construction of breakwater, dredging in the
basin and channel and fund construction of the project in the tune of ₹2,500
crore.” The financial analysis shows that the project is an edge of the
viable on a standalone basis.
The
VOC Port Authority retendered the request for proposal after the earlier tender
was cancelled due to poor response – only two (Vedanta and Premier Science
& Technologies) applied and both were disqualified. This time the
eligibility criteria has been modified to enable larger participation. The
project involved dredging and construction of breakwater on design, build,
finance, operate and transfer basis with a total handling capacity of 4 Million
TEUs per annum in two stages.
The
indicate project cost of the first stage of 2 Million TEUs will be Rs.4494
Crores and involved development of Container Terminal 1 (Berths I & II),
dredging and construction of breakwater and other common project facilities. The second stage of 2 Million TEUs will cost
Rs. 2,561 Crores for developing Container Terminal – 2 (Berths III & IV).
The
Indian Register of Shipping or IR Class, a home-grown, so-called ship
classification society, and the only Indian entity to figure in a global top
ten maritime industry list has completed 50 years, with Sarbananda Sonowal, the
Union Minister of Ports, Shipping and Waterways hoping that the “next 50 years
be even more impactful and transformative for the IRS and the maritime
fraternity as a whole”.
A
ship classification society verifies ships for its seaworthiness. “50
years of remarkable service to the maritime industry is an extraordinary
achievement, reflecting the dedication, innovation and excellence that IRS has
consistently demonstrated since its inception,”
Sonowal
said while addressing shipping industry stalwarts gathered in Mumbai on
Wednesday to celebrate the golden jubilee of IRS, one of the 12 full time
members of the International Association of Classification Societies (IACS).
Exports of basmati rice records 16% jump, non-basmati declines by 6.9% in 2024
India,
the world's largest rice exporter, sustained its global rice trade volumes in
2024, with strategic shifts in export composition offsetting initial market
constraints, government and industry sources said. Official data reveals
that India exported 17.8 million metric tons of rice in 2024, a marginal
decline from 17.86 million tons in the previous year.
The
export landscape was characterised by significant variations across rice
categories, with premium basmati rice emerging as a critical driver of
sustained export performance.
Basmati
rice exports demonstrated remarkable resilience, surging 16.3 percent to reach
a record 5.7 million tons. Key markets including Saudi Arabia, Iraq, and the
United Arab Emirates continued to import substantial quantities, even amid
price increases.
Conversely,
non-basmati rice exports experienced a 6.9 percent reduction, totalling 12.1
million tons, as elevated prices prompted some traditional importing nations
like Bangladesh, Cameroon, Djibouti, and Gambia to curtail purchases.
Russian oil tankers
search for new flags to hide from sanctions
A chunk of Russia’s oil tanker fleet is being forced to change the flag they sail under as US and UK sanctions heap pressure on Moscow’s shipping network. The Barbados ship registry said that by the end of the month it will have asked a total of 46 ships to remove the country’s flag as a result of UK sanctions.
Fourteen of these are also sanctioned by the US. Separately, Panama’s ship registry said earlier this month that it had begun to de-list 68 vessels that were sanctioned by the US. Though all of the ships will likely find new flags, many vessels that serve Moscow’s interest have repeatedly had to switch to unusual service providers since the Russian invasion of Ukraine in 2022.
That’s a sign of the disruptive impact sanctions can have on the sprawling logistics operation that helps keep Russia’s oil flowing and war machine running. The latest moves follow the most sweeping sanctions on Russia’s exports to date earlier this month.
Cosco
Shipping Lines has been facilitating containerised transport of grain, to meet
the needs of Chinese agribusinesses whose cargo volumes are not large enough
for bulk carriers. According to China’s Assets Supervision and
Administration Commission of the State Council, which oversees state-owned
enterprises, since 2024, more grain has been moving in containers in the
north-east of the country.
Previously,
as much as 80% of grain cargo in north-eastern China was moved in bulk
carriers; now, 50% is moved in containers. A Cosco executive said that
agribusinesses’ requirements had changed. He said: “Today, the concept of
‘logistical costs’ isn’t just about freight, but the sum of all factors, such
as punctuality, reliability and service. Staff from our Dalian branch visited
customers to understand their needs.
Besides
seaborne transport, there is also a need to offer land-based solutions, added
the executive, and cited the example of Jiamusi, the largest grain-growing city
in the country, located in Heilongjiang province.
In
2024, Jiamusi’s output of various grains exceeded 11M tons. Cosco’s intra-Asia
Unit, Shanghai Pan Asia Shipping, worked with the company’s Dalian Branch to
offer a rail-sea transport service to shipper’s that needed to move grains from Jiamusi, via Dalian. To
date, Cosco’s Dalian branch has created 32 import and export rail and sea
transport channels and 88 container pick up/return points.
Singapore Strait becoming a piracy hotspot again
The
Singapore Strait is becoming a piracy hotspot once again. A
Singapore-flagged bulk carrier was boarded by six individuals while transiting
eastbound in the Philip Channel of the Singapore Strait in Indonesian waters,
the latest in a series of attacks in the same area over the past few
months.
According
to UK maritime security specialists Ambrey, the suspects were reportedly armed
with bladed weapons and a “gun-like” object. During the incident, the vessel
was underway at 12.3 knots. Crews transiting the Singapore Strait with
freeboards lower than 10 m are advised by Ambrey that they are at heightened
risk.
/// Air Cargo News ///
Rs 60.31 lakh in foreign currency
stolen from air cargo en route from Kochi to Coimbatore; probe on
The police have registered a case and started a probe after Rs 60.31 lakh, sent by a Bengaluru-based finance company engaged in foreign exchange business via air cargo from Kochi, was found stolen at Chennai airport.
The
police are coordinating with airport authorities as part of the
investigation. The police said the foreign exchange firm with branches
across India transported foreign currencies received at its branches in
Ernakulam to its branch in Coimbatore via air cargo.
The currencies worth Rs 63.73 lakh were kept inside a locked parcel box sent from Kochi airport on a flight to Coimbatore via Chennai on January 7. “However, at the Chennai airport, the locks of the box were found broken and foreign currencies to the tune of Rs 60.31 lakh were missing. The foreign currencies include -- US dollars, Thai bahts, Singapore dollars, UAE dirhams, Indonesian rupiahs and Vietnamese dongs.
Govt plans 50 new airports and Delhi
as a global aviation hub, says Ram Mohan Naidu at WEF
Aviation
Minister Ram Mohan Naidu, on the sidelines of World Economic Forum (WEF) 2025,
stated that the government wants to build 50 more airports, highlighting that
the intention is to make Delhi a major international aviation hub.
Speaking
to media people, Aviation Minister said, "We want to build 50 more
airports in the coming 5 years, so we are trying to look at international
partnership so that new technologies, new ways of Passenger services can all be
brought into our country also."
He
further added, "We are trying to speak to the aircraft operator and also
kind of facilitate for more transit network in the airport itself and we have a
plan that within 2 years we want to establish Delhi as a major international
aviation hub."
He
outlined plans to establish Delhi as a key aviation hub within two years,
stating, "We are speaking to the airlines, speaking to other countries,
how we can support this kind of aviation hub, and there has been a lot of
interest in that area also."
Naidu
remarked, “we have become the 3rdd largest domestic aviation network in the
world. Now the whole world is looking at India on how to improve their own
aviation networks”. He added that the
country is focused on expanding its aviation ecosystem by adding more airports,
increasing the passenger fleet and addressing the rising demand for air
travel. The minister noted the enthusiasm
and interest of global leaders and investors in India’s aviation growth story. “
There was a lot of interest, a lot of enthusiasm”, he said.
Big three US airlines given a lift from gains in cargo business
The
big three US airlines cruised into 2025 on strong gains in their core passenger
segment, and were further buoyed by double-digit gains in their cargo
business. Delta clocked-up the biggest surge in cargo, with revenues in Q4
jumping 32% to $249m, which management attributed to strong demand for
high-value and time-sensitive traffic.
And
besides operational improvements, it cited the use of predictive analytics and
enhanced tracking capabilities as major factors that improved handling
efficiency and customer satisfaction. Over the full year, Delta Cargo
generated $822m in operating revenue, an increase of 14% over its 2023 tally.
The
airline’s overall (GAAP adjusted) revenues climbed 4% for the year, to a record
$57bn, with operating revenue of $61.6bn. In January last year, Delta
Cargo launched a domestic door-to-door delivery service, targeting e-tailers,
in collaboration with technology provider SmartKargo. This segment had shown
“huge growth” for the carrier, it said.
Ethiopian Cargo grows 777 freighter
fleet
Ethiopian
Cargo has added a new Boeing 777 freighter to its fleet to help it continue to
grow global operations. The 777F, registered ET-BAB, carried humanitarian
aid for its first flight, said Ethiopian Airlines in a LinkedIn post on
Thursday 23 January.
”Ethiopian
Cargo is proud to expand its capacity and enhance its global operations with
the addition of a new Boeing 777 Freighter Aircraft, ET-BA,” said Ethiopian
Airlines in the post. ”This milestone strengthens our ability to serve
global markets with increased efficiency and reliability, ensuring we meet the
growing demand for air freight services worldwide.
”The
new freighter will play a pivotal role in fortifying our extensive network and
delivering unparalleled service to our customers. Its first flight carried
humanitarian aid, exemplifying our commitment to making a meaningful impact in
our corporate social responsibilities.”
Cathay Pacific and SITA announce agreement to expand network connectivity across 51 global airports
SITA,
the global leader in air transport technology, and Cathay Pacific have
announced a significant milestone with an agreement supporting substantial
increases in network bandwidth at its airports, improving current capacity by
up to five times while maintaining cost efficiency.
This
initiative aligns with Cathay Pacific’s strategic direction of increasing
adoption of Cloud applications while ensuring optimal performance for legacy
systems. Cathay Pacific was an early adopter of the original SITA Connect
solution, and this renewed agreement demonstrates its confidence in SITA as it
moves to the newly launched SITA Connect Go service.
This
new collaboration will provide Cathay Pacific with enhanced network
connectivity across 51 global airports through the SITA Connect Go at Airports
product, which will combine dual Internet connectivity to provide bandwidth
ranging up to 300 Mbps. The new contract includes a planned 12-month design,
build, test, and implementation period to cover all airports involved in the
project.
Airbus to close A300-600ST Beluga airline
Airbus
has confirmed that it will close its relatively young Airbus Beluga Transport
operation , which was intended to cater to demand for outsize cargo
carriage.
The
airframe first launched outsized air-cargo service Airbus Beluga Transport
(AiBT), operated by Airbus Transport International (ATI), in January
2022.
The A300-600ST
Beluga aircraft, which until 2021 were used to carry aircraft parts for Airbus,
were officially transferred from ATI’s fleet register to AiBT’s after Airbus
announced in January 2024 that AiBT had secured its air operator certificate (AOC),
enabling it to operate as an airline using BelugaST freighters.
The
airframer established the operation as it sought an alternative use for its
A300-600ST Beluga fleet, which was withdrawn from its internal logistics
network after introduction of the larger A330-700L BelugaXL. It set up
Airbus Beluga Transport as an airline and secured a French air operator’s
certificate for the division. But Airbus says the decision has been taken
to “terminate” the business.
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.
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