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 - January 31, 2025
Today’s Exchange Rates
|
CURRENCY |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
85.02 |
-0.07 |
-0.082265 |
85.07 |
85.09 |
84.9525- 85.105 |
|
|
1.0428 |
0.0065 |
0.627232 |
1.0363 |
1.0363 |
1.0343- 1.0445 |
|
|
106.2203 |
-1.495903 |
-1.388745 |
106.2112 |
107.7162 |
106.1583- 106.426 |
|
|
88.2471 |
-0.338402 |
-0.382006 |
88.1781 |
88.5855 |
88.0228- 88.3978 |
|
|
156.142 |
-1.298004 |
-0.824444 |
157.44 |
157.44 |
155.958- 157.925 |
|
|
1.2597 |
0.0095 |
0.759871 |
1.2502 |
1.2502 |
1.2475- 1.2614 |
|
|
108.223 |
-0.184998 |
-0.170649 |
108.484 |
108.408 |
108.098- 108.541 |
|
|
0.5423 |
0.001 |
0.184738 |
0.5404 |
0.5413 |
0.5387- 0.5426 |
/// Sea Cargo News ///
Maersk announces updated surhcarges from
Far East to India & Pakistan
Maersk
is updating the Peak Season Surcharge (PSS) for shipments from Brunei, East
China, South China, North China, South Korea, Hong Kong, Vietnam, Indonesia,
Japan, Cambodia, Laos, Myanmar, Malaysia, the Philippines, Singapore and
Thailand to India’s ports of Nhava Sheva, Mundra and Pipavav and Pakistan.
The
revision applies to all 20Ft, 40Ft and 45Ft Dry Containers, with effect from
January 31, 2025.
Suez Canal completes expansion to enhance
traffic flow
Traffic through Egypt’s Suez Canal has nearly come to a standstill over the past year. However, the Suez Canal Authority recently completed a successful test of a new expansion.
The project adds a ten kilo meter stretch of two way traffic at the canal’s southern end, significantly enhancing its capabilities, according to Dyna Liners.
Once
the vessel owners and operators resume routing their ships through the Suez
Canal, this upgrade will enable the vital global trade artery to accommodate an
additional six to eight ships per day.
MSC expresses interest in new Italian
terminal.
MSC, together with local Fratelli Neri and Lorenzeni & Co, has officially expressed its interest in developing Piattaforma Europa, a massitve outer harbour expansion at Leghorn in Livorno, Italy.
According
to Dynaliners, at full buildout, the new project will comprise three berths
with a total quay length of 1,200 meters and at a depth of 20 meters, providing
1.6 million TEUs of additional handling capacity.
A complicating factor may be that in August 2023, MSC was forced to withdraw its offer to buy Terminal Darsena Toscana in the same port as together with Lorenzini, it is already a 50% owner of the Lorenzini Terminal.
With
its concession expiring in 2029, it cannot be discounted that the new project
could function as a replacement rather than an addition, according to Dyna
Liners Analysts, who note that the multipurpose Lorenzini Terminal offers a
quay line of 480 meters equipped with mobile harbour cranes and handled 273,800
TEUs in 2024.
Trump selects new FMC Chairman
Louis
Sola, new Chairman of FMC. US President Donald J. Trump has designated Louis E. “Lou Sola to serve as the Chairman of the Federal Maritime Commission (FMC). The designation was made on January 20, 2025.
Chairman Sola has served as a Commissioner of the FMC since January 2019 and he succeeds Daniel B. Maffei as Chairman. The Chairman is the Chief Executive and Administrative Officer of the Commission.
Commenting on his new role, Sola said, “I am humbled by President Trump designating me Chairman and I am grateful for his confidence in my ability to lead the Federal Maritime Commission.
There are many ways the Commission contributes to the competitiveness of American businesses, access to foreign markets for US vessels and companies, and economic growth for the Nation. We will continue that important work while looking for more instances where applying the authorities of the Commission helps US companies ad consumers”.
CMA CGM
orders tweleve 15,500 TEU vessels, narrowing gap with Maersk
French container shipping giant CMA CGM has sent a new order of 12 LNG dual fuel container vessels to South Korea’s Shipyard HD Hyundai Heavy Industries.
The two companies signed a letter of intent (LOI) for a contract at around 3.9 Trillion won (US$ 2.7 Billion), which is the first order that the shipyard received in 2025. The estimated price per container ship exceeds US$ 220 Million.
CMA CGM is closing in on Maersk and may overtake the Danish carrier in TEU capacity by the end of the year. Currently, the French shipping group operates a fleet with a total capacity of 3.86 Million TEUs, compared to Maersk’s 4.47 Million TEUs.
While
CMA CGM’s current orderbook is larger than Maersk’s, it is not yet sufficient
to bridge the gap. It will be fascinating to watch how this competition unfolds
throughout 2025.
Vietnam approved Can Gio Trans shipment
Port Project
The Vietnamese Government has given the green light to the “Investment Policy” for the Can Gio International Trans shipment Port Project in Can Mep.
This
is a project proposed by Saigon Port JSC and MSC’s Port operating arm Terminal
Investment Limited.
According
to the latest Dynaliners report, the facility is expected to offer a container
capacity of 16.9 Million TEUs at full capacity, operating along a quay line of
7,200 meters. The full capacity of the port is expected to be reached by 2045.
Regional Container Lines launches new 7,000
TEU vessel
Regional Container Lines (RCL) announced the delivery and maiden voyage of its new Vessel Jira Bhum, which took place on January 21, 2025.
Jira
Bhum, a 7,000 TEU container ship, was officially named on December 10, 2024
during a celebratory event at Jiangsu New Hantong Ship Heavy Industry,
China. The occasion was graced by Police
General Adul Sangsingkeo, accompanied by Aranya Sangsingkeo, who served as the
Sponsor Lady.
The
event saw the presence of RCL’s senior management team, including Dr. Jamlong
Atikul – Chairman, Sumate Tanthuwanit, Chairman of the Executive Committee and
Dr. Twinchok Tanthuwanit, President of RCL.
Like the other three vessels of the company, Guru Bhum, Hemma Bhum and Itthi Bhum delivered in 2024, Jira Bhum was also constructed at the Shanghai Waigaoqiao Ship Building yard in China.
The
New box ship boasts enhanced specifications, featuring Energy Saving Devices
such as Pre Shrouded Vanes. These innovation reduce CO2 emissions and fuel
consumption by up to 3%, marking a step forward in sustainability.
Maersk implements PSS from Indian Sub and Middle East to North America
Maersk is revising the Peak Season Surcharge (PSS) for shipments from the United Arab Emirates, Bangladesh, Bahrain, Bhutan, India, Iraq, Jordan, Kuwait, Sri Lanka, Maldives, Nepal, Oman, Pakistan, Qatar, Saudi Arabia and Yemen to the United States of America and Canada East Coast and Gulf Coast.
The updated surcharges will take effect starting February 01, 2025 and will apply to the container types listed below.
/// Air Cargo News ///
Chhatrapati
Shivaji Maharaj International Airport (CSMIA) concluded 2024 with remarkable
achievements, fortifying its status as a pivotal element of India’s air freight
landscape by reaching new heights in cargo operations.
The
airport experienced a significant 17 percent increase in international cargo
volumes, setting a record with a daily tonnage peak of 204 metric tonnes (MT).
This achievement underscores the airport’s dedication to fostering efficient
global trade connections. At the Cargo Terminal, both international and
domestic freight sectors saw substantial growth.
In
March 2024, a new record was established when 60,659 MT of international cargo
was processed, highlighting the airport’s strategic importance and operational
prowess. Over the year, CSMIA expanded its global reach by adding flights to
687 international cities, including new routes to Tripoli, Khabarovsk,
Kaliningrad, Zhukovsky, Tyumen, Damascus, Honinabi, and Chisinau.
Partnerships bolster Chicago Rockford air cargo volumes
New partnerships with cargo carriers helped Chicago Rockford International Airport (RFD) achieve a 1.5% year on year increase in cargo volumes in 2024. In 2024, 3.14bn pounds of landed weight travelled through the US airport, making it the third-largest year ever for its air cargo operations. RFD said the year-over-year "growth can be credited in part by RFD’s relationships with new international partners and current airport tenants”.
UPS
played a major part in cargo operations at the airport, said RFD. Last year,
UPS celebrated its 30th anniversary at the airport. In April, UPS was
awarded a major air cargo contract by the United States Postal Service (USPS),
making UPS its primary air cargo provider and responsible for moving much of
its air cargo within the US. Increased flights by Amazon Air and Maersk
Air Cargo also helped to drive growth in 2024.
Supply chains brace as Trump reiterates
China tariff plan and takes aim at the EU
Supply
chains should start preparing for a ramp-up in US tariffs after US president
Donald Trump reiterated his previous plans and also took aim at the European
Union (EU).
During
a press conference on Tuesday, Trump reiterated plans
to implement a 10% tariff on imports of Chinese goods in response to
accusations that fentanyl is being imported from China into the US via
Mexico and Canada. This could come in as soon as February 1.
The EU is also under consideration for tariffs, Trump said at Tuesday’s press conference, although at this stage details are thin on the ground. These tariffs aim to address a trade imbalance.
“The
EU is very, very bad to us,” Trump said. ”They treat us very, very badly. They
don’t take our cars. They don’t take our cars at all. They don’t take our farm
products, essentially. They are going to be in for tariffs. It’s the only way
you are going to get back fairness.”
Meanwhile,
on Monday he said that tariffs on Mexico and Canada could begin on February
1. Following last year’s election, Trump said he planned to
introduce 25% tariffs on goods from the two countries in response
to drug smuggling and illegal immigration into the US.
Trump
has also instructed a wider investigation into trade, including trade deficits,
unfair practices and currency manipulation.
Industry
observers have warned that companies should start preparing for a ramp-up of
tariffs, warning that they could cause supply chain chaos.
Peter
Sand, chief analyst at air and ocean data provider Xeneta, said: “We know
tariffs are on the way – we just don’t know when, where or the category of
goods impacted. This uncertainty makes managing supply chain risk an almost
impossible task.
“The
worst case scenario is Trump announcing blanket tariffs against China and the
rest of the world simultaneously. The rush to import goods into the US ahead of
tariffs coming into effect could cause carnage across global supply chains and
put upward pressure on already-elevated freight rates.”
He
said that during the last trade war - in 2018 - volumes and rates spiked ahead
of the implementation of the tariffs as companies rushed to move goods before
the deadline.
“Shippers
want to take decisive action against these geo-political threats. In the short
term that may mean building up stock inventories if they know when tariffs are
coming into effect and the goods within scope," Sand added.
“In
the longer term, shippers may look to shift supply chains out of China to
nations such as India or neighbouring South East Asia countries if the trade
war escalates dramatically. However, they will not commit to this financial
investment and massive supply chain disruption based on rhetoric and political
posturing.”
ITS
Logistics also warned of front loading in its most recent market report. "Shippers should prepare for the
potential of a frontloading event similar to 2018, disrupting transpacific
trade lanes from Asia into North America—regardless of origin—as frontloading
bottlenecks at the same entry point ports. "Expect exports to be
negatively impacted as well due to equipment imbalance and possible retaliatory
tariffs."
Maersk Air Cargo begins UK flights
Photo:
MaerskMaersk
Air Cargo UK has received its first aircraft and carried out its first flight
from England to Ireland.
According
to aviation database Planespotters, Maersk Air Cargo UK took delivery of a
converted 767-200 freighter earlier this month. The aircraft,
registered G-MACZ, is over 30 years old and was previously used by Maersk
Air Cargo on unspecified routes.
Data
from Flightradar24 shows that the G-MACZ 767 is a BDSF (BEDEK Special
freighter) that has already carried out a return flight from East Midlands
Airport (EMA) to Shannon (SNN) in Ireland.
Maersk
Air Cargo applied
for an operating license from the UK Civil Aviation Authority in April last
year. Maersk told Air Cargo News (ACN) at the time that the UK
Air Operator Certificate (AOC) application had been made to "support our
ongoing business activities in Europe and the UK".
The
company added that operations would be served with 767F aircraft but did not
provide any further details on its plans. Maersk launched Maersk Air Cargo as a business in
April 2022 and operations were launched
at the end of October 2022.
Maersk
Air Cargo’s owned controlled fleet now comprises two 777Fs and 19 Boeing 767Fs. Last year, Maersk took delivery of two new
Boeing 777 freighters. These were deployed on the airline’s Billund to Hangzhou route.
Heathrow
third runway plans set for government backing?
Source:
Heathrow Airports LimitedReports
suggest that UK chancellor Rachel Reeves could back plans for the expansion of
Heathrow Airport to help fuel economic growth.
Several
national newspapers report that Reeves could give the go-ahead to plans to
build a third runway at the west London Airport as well as supporting a second
runway at Gatwick and expansion at Luton.
Confirmation
of the expansion plans is expected in the coming weeks as part of a swathe
of announcements intended to drive economic growth.
Gatwick
is hoping to bring its emergency runway into regular use while Luton wants to
add a new terminal. A decision on Gatwick’s plans is due by 27 February and
Luton’s on 3 April. However, the plans will face strong opposition from within
the ruling Labour Party.
London’s
Labour mayor Sadiq Kahn and the energy secretary Ed Miliband are thought to be
against the plans. Miliband is responsible for ensuring the country remains
within its carbon target as it seeks to reach net zero emissions by 2050.
Many
backbenchers are also likely to oppose the plans on emissions and noise
grounds. The expansion was initially approved in 2018 but the UK has since
committed to net zero emissions by 2050 and on December 4 2020 it pledged to
cut carbon emissions by 68%, from what they were in 1990, by 2030.
The
airport can seek a development consent order (DCO), a type of planning
permission for nationally significant infrastructure, but has yet to do so. And
gaining the DCO may be difficult, as it will take into consideration stricter
pledges to cut emissions made recently by the UK government.
Heathrow
Airport is reportedly considering developing new plans for the extra runway
which would not involve extensive work to lower the M25. An announcement on the
new plan is expected later this year.
United’s cargo revenue climbs 30% in
fourth quarter
United Airlines’ cargo operating revenue was up nearly 30% year over year in the fourth quarter boosted by pharma shipments.
In
addition to announcing a 29.6% increase in cargo operating revenue for the
fourth quarter ending December 31, the US airline said its full year cargo
operating revenue was up 16.6%.
United
said it transported nearly 1.3bn pounds of cargo in 2024, including
approximately 43m pounds of medical shipments and 1.1m pounds of military
shipments.
For
the full year, United said it operated the most flights in its history.
“United
had a unique strategy coming out of Covid and our people have delivered for
customers leading to a structurally and permanently changed industry,” said
United Airlines chief executive Scott Kirby.
“2024
was a strong year across the board for United as we’ve become the leading
global airline and we enter 2025 with demand trends continuing to accelerate
which puts us on the path to double-digit pre-tax margins.”
Notable
air cargo investments in 2024 included the opening of a 165,000 sq
ft cargo
facility at Newark Liberty International Airport (EWR) that expanded
the airline’s cargo space at the hub to 319,000 sq ft.
The
airline also invested in digitalising its services by adding
its capacity to WebCargo as well as placing
its capacity on cargo.one.
Just
this month, US charter airline Global Crossing Airlines Group
(GlobalX) entered into a digital
interline agreement with
United through Airblox’s electronic Block Space Agreement (eBSA).
Earlier
this month, Delta Air Lines reported a 14%
year-on-year increase in
cargo operating revenue for 2024.
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.
Comments
Post a Comment