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 -  July  22,  2025


Today’s Exchange Rates

CURRENCY

PRICE

CHANGE

%CHANGE

OPEN

PREV.CLOSE

DAY's LOW-HIGH

USD/INR

86.31

0.139999

0.162488

86.22

86.16

86.195- 86.3625

EUR/USD

1.1688

0.0062

0.533284

1.1634

1.1626

1.1683- 1.1696

GBP/INR

116.1418

-0.012703

-0.010936

115.6496

116.1545

115.6496- 116.1527

EUR/INR

100.4877

-0.011597

-0.011539

100.2077

100.4993

100.2077- 100.521

USD/JPY

147.487

-1.322998

-0.889052

148.15

148.81

147.311- 147.713

GBP/USD

1.348

0.0064

0.47705

1.3425

1.3416

1.3477- 1.3492

DXY Index

98.23

-0.251999

-0.255883

98.357

98.482

98.167- 98.508

JPY/INR

0.5835

0.00

0.00

0.5822

0.5835

0.5803- 0.5838

USD/CAD

1.3687

-0.0039

-0.284127

1.3719

1.3726

1.3676- 1.369

USD/SGD

1.281

-0.0044

-0.342307

1.285

1.2854

1.28- 1.2817


///                   Sea Cargo News            ///

India Strengthens Hydrogen Economy with Hyundai-IIT Madras Innovation Centre


This new research and development facility will focus on advancing green hydrogen technology and supporting India’s transition to a clean energy future. Located within IIT Madras’ Discovery Campus at Thaiyur in Chennai, the centre is envisioned as a national hub for hydrogen innovation. Developed with the support of the Government of Tamil Nadu, the facility aims to accelerate research across the hydrogen value chain—from production and storage to end-use applications in mobility and power.

The announcement marks a significant milestone in HMIL’s INR 100 crore investment towards green hydrogen research in India. Part of this funding is being channelled through Hyundai Motor India Foundation (HMIF) under its corporate social responsibility initiatives.

Spanning 65,000 square feet, the centre will house advanced laboratories and digital infrastructure to simulate hydrogen systems, test electrolyzers and fuel cells, and build containerised demonstrators for industrial-scale deployment. Facilities will include customised test rigs and digital twin capabilities for pilot-level evaluations.


Speaking at the unveiling event, Thiru T.R.B. Rajaa, Minister for Industries, Investment Promotion and Commerce, Government of Tamil Nadu, lauded the initiative as a model for India’s innovation potential.

He emphasised the role of Tamil Nadu as a driver of technological advancement, stating that the region is poised to become not only the manufacturing capital but also the research and development capital of Asia.

“Tamil Nadu is already the auto, electronics, and technology capital of India. With this centre, we are pushing the boundaries to lead in hydrogen research,” the Minister said. “The Hyundai HTWO Innovation Centre is a crucial step toward indigenous hydrogen production and sustainable growth.”

 

Unsoo Kim, Managing Director of HMIL, highlighted Hyundai’s long-term commitment to sustainability and its role in building a hydrogen-powered future for India. “This facility represents our vision for an open platform that encourages collaboration across academia, industry and government. It strengthens our support for Make in India and promotes scalable, affordable hydrogen technologies,” he said.

. IIT Madras Director, Prof. V. Kamakoti, underscored the academic community’s role in advancing hydrogen R&D. “This centre will bring together global stakeholders in the hydrogen sector, including academia, industry, and policymakers. It represents a key step toward making India self-reliant in hydrogen technologies,” he said.

The centre will also support capacity building and skills development to create a highly trained hydrogen workforce...The event was attended by representatives from academia, government and industry, including Chang-nyun Kim, Consul General of the Republic of Korea in Chennai; Gopalakrishnan CS, Chief Manufacturing Officer at HMIL; JW Ryu, Function Head at HMIL; Dr. Ashish Lele, Director of CSIR National Chemical Laboratory, Pune; and several senior faculty and researchers from IIT Madras.

Rooted in Hyundai Motor Group’s HTWO brand, the centre will support collaboration, investment, and partnership across the hydrogen sector. Its development represents a key step toward establishing a robust and localised hydrogen economy in India.


Tariffs drive US clothing imports from China to 22-year low in May


The value of apparel imports from China to the US fell in May to its lowest monthly level in 22 years, according to latest trade data, highlighting the impact of steep US tariffs.

China has for years been the biggest exporter of clothes to the US, but its share of the US apparel market has fallen as trade relations between the world's two biggest economies soured.

US President Donald Trump ratcheted tariffs up to as much as 145 per cent in April, driving more U.S. retailers to reduce purchases from Chinese factories in favour of Vietnam, Bangladesh, India and elsewhere. "The sharp decline in US apparel imports from China in May 2025 was anything but natural," said Sheng Lu, professor of fashion and apparel studies at the University of Delaware.

The US imported $556 million worth of clothing from China in May, down from $796 million in April, and the fourth straight month of declines, according to US International Trade Commission (USITC) data. The last time monthly imports were lower than that was May 2003.  

Earlier in the year, anticipating Trump's tariffs, US retailers stocked up: the value of apparel imports from China in January was $1.69 billion, up 15 per cent from the $1.47 billion a year earlier.

Despite a recent trade deal between the US and China, most leading US fashion companies still plan to reduce their China exposure further, if not totally move out of the country, Lu said.    The same pattern is visible in demand from US retailers for factory inspections. Auditing firm QIMA said its data, based on thousands of inspections and audits worldwide, shows US sourcing from China fell by nearly a quarter in the second quarter from a year earlier, while demand in Southeast Asia grew 29 per cent.

Another early winner was Mexico, according to the USITC data. In May the US imported $259 million worth of apparel from its southern neighbour, up 12 per cent from a year ago. QIMA said in its note that the shift out of China is not new and Southeast Asia's share of US sourcing has been steadily growing since mid-2023.

The coming months may put US supply chains to a new test, QIMA said, as the temporary pause on tariffs for most non-China countries will soon expire, coinciding with the kick-off of holiday season procurement.

Trump announces 50% tariff on copper - concern mounts in Chile


US President Donald Trump on Tuesday(8 July) announced a 50% tariff on copper imports and stated he was considering a 200% tariff on pharmaceutical products if manufacturers do not move their operations to the United States. These announcements were made during a cabinet meeting, though no official executive order has yet been published on the White House website.

The 50% tariff on copper is consistent with previous tariffs imposed on steel and aluminum. This measure immediately impacted the market, with copper prices on the US Comex market rising by nearly 17%. Shares of US mining company Freeport-McMoRan surged by 6.1%, and Mexico's Southern Copper climbed by 2.9%.

The announcement was particularly significant for Chile, the world's largest copper producer, as the US is a major market for its exports. Codelco, Chile's state-owned mining company, provides most of the copper Chile exports to the US. “The US will continue to need copper, and Chile will continue to be available,” Codelco President Máximo Pacheco told local media after Trump's announcement and wondered whether the measure would be applied evenly to all suppliers, “or will there be a system of exceptions?”

The United States imports some 700,000 tons of copper, of which 500,000 tons are supplied by Chile and 350,000 tons stem from Codelco. “So, for practical purposes, the United States will continue to need copper, and Chile will continue to be available as the main supplier of copper to the United States,” he insisted. Meanwhile, former Chilean Finance Minister Ignacio Briones said that “this is very bad news for Chile: the cost of disastrous protectionism.”

“Will President Trump's Chilean supporters still back him?” he also asked himself.

Regarding the pharmaceutical tariff threat, Trump mentioned a “very high tariff” of approximately 200% on those products if their manufacturers do not establish operations in the US after a grace period of “about a year, a year and a half.” He also criticized past administrations for allowing the relocation of this industry abroad. “They all left. They went to other places because the people in this room allowed it to happen. And I don't allow it. The people in this room don't allow it to happen,” he underlined.

These new tariffs align with Trump's ongoing trade war and come a day before the initial deadline for trading partners to set new reciprocal tariffs. The U.S. has only reached trade agreements with China, the United Kingdom, and Vietnam, and Trump had previously extended a 90-day tariff truce until August 1.

The announcements signal a continued aggressive stance on trade by the Trump administration, aiming to bring manufacturing back to the US and address perceived trade imbalances.

During this time, the US has only reached agreements with China, the United Kingdom, and Vietnam, and Trump postponed the 90-day truce announced in April, which was set to expire on July 9, until August 1.

Israel Targets Yemen Ports, Power Station after Renewed Houthi Attacks


Israel struck Houthi targets at three Yemeni ports and a power plant, the military said early on Monday,(7 July) in its first attack on Yemen in nearly a month. The strikes hit the ports of Hodeidah, Ras Isa and Salif, as well as the Ras Qantib power plant on the coast, in response to repeated Houthi attacks on Israel, the military said.

Hours later, Israel said two missiles were launched from Yemen. Attempts were made to intercept them, though the results were still under review. The Iran-aligned Houthi forces said they had fired missiles and drones at multiple targets in Israel in retaliation for the strikes on Yemen.

The Israeli ambulance service said it had not received any calls regarding missile impacts or casualties following the launches from Yemen.

Since the start of the war in Gaza in October 2023, the Houthis have fired at Israel and at shipping in the Red Sea, disrupting global trade, in what the group says are acts of solidarity with the Palestinians.

Most of the dozens of missiles and drones fired toward Israel have been intercepted or fallen short. Israel has carried out a series of retaliatory strikes.Israel said its attacks on Monday also targeted a ship, the Galaxy Leader, which was seized by the Houthis in late 2023 and held in Ras Isa port.

“The Houthi terrorist regime’s forces installed a radar system on the ship, and are using it to track vessels in international maritime space in order to promote the Houthi terrorist regime’s activities,” the military said.

The Houthi military spokesperson said the group’s air defenses had responded to the Israeli attack with “a large number of domestically produced surface-to-air missiles.”

Israel’s military told residents to evacuate the three ports before it launched its attacks. Residents of Hodeidah told Reuters that the strikes on the power station had knocked out electricity. There was no immediate information on casualties.

The Israeli assault comes hours after a ship was attacked off of Hodeidah and the ship’s crew abandoned it as it took on water. No one immediately claimed responsibility for the attack, but security firm Ambrey said the vessel fit the typical profile of a Houthi target.

The Houthis, who control northern Yemen including the capital Sanaa, are one of the last pro-Iran armed groups still standing in the Middle East after Israel severely hurt other allies of Tehran: Lebanon’s Hezbollah, the Palestinian militant group Hamas and Iran itself in a 12-day air war last month.

Under the direction of leader Abdul Malik al-Houthi, the group has grown into an army of tens of thousands of fighters and acquired armed drones and ballistic missiles. Saudi Arabia and the West say the arms come from Iran, though Tehran denies this.

Indian Seafarers Freed after Months of Detention at Yemen’s Ras Isa Port


“The Directorate General of Shipping is pleased to inform that all 11 vessels stranded at Ras Isa Port, Yemen, carrying over 150 Indian seafarers, have successfully sailed out after the completion of cargo discharge operations,” the press release stated.

The crisis in Ras Isa began following an airstrike on April 17, 2025, which damaged port infrastructure and led to the Iranian-backed Houthis enforcing a blockade of the port. According to the Directorate, some vessels had been stuck at the port since December 2024, with local authorities refusing to grant departure clearance until all cargo was discharged.

The release was achieved through “sustained diplomatic efforts led by the Indian Embassy in Yemen, with strong support from Indian Missions in London, Riyadh, and Washington D.C.,” according to the Directorate.

The situation at Ras Isa had been deteriorating for months. In early May, UN International Maritime Organization Secretary-General Arsenio Dominguez expressed deep concern about the seafarers’ safety, as the United Kingdom Maritime Trade Operations reported vessels being forcibly detained despite having proper clearance. Incidents included warning shots being fired and armed personnel boarding vessels.

The port has come one focal point in the ongoing regional conflict, with U.S. strikes in April targeting fueling infrastructure at Ras Isa, reportedly resulting in significant casualties. On Monday, Israel conducted strikes on three Yemeni ports including Ras Isa, citing retaliation for Houthi attacks on Israel.

The announcement comes as the Red Sea crisis has reignited following Sunday’s (6 July) attack on the Liberian-flagged M/V Magic Seas on Sunday, which has allegedly resulted in the ship’s sinking. In addition to the three Yemeni ports, Israel is claiming a successful strike on the M/V Galaxy Leader, which the Houthis have held since November 2023.

Kamarajar, Paradip & Deendayal ports to soon accommodate cape-size vessels: Shipping secretary


Major ports have achieved a draft of 14 metres, while ports like Kamarajar, Paradip and Deendayal are progressing towards 18-metre draft to accommodate large shipping vessels due to policy initiative taken by the government to make India a regional transshipment powerhouse, Shipping Secretary T K Ramachandran said on Sunday. 

Transshipment has historically remained a missed opportunity for Indian ports, with 75 per cent of India's transshipment cargo routed through foreign hubs like Colombo, Singapore and Port Klang. "Major Ports have achieved a draft of 14 metres, while ports like Kamarajar, Paradip and Deendayal are progressing toward 18-metre draft to accommodate Panamax and cape-size vessels.

Asia-Europe freight rate surge stalls amid port congestion and mixed market signals

The recent surge in Asia–North Europe container freight rates appears to have plateaued—at least for now—as spot rates show signs of softening across key indices. Drewry’s World Container Index (WCI) reported a 2% week-on-week decline on the Shanghai–Rotterdam route, bringing rates down to $3,384 per 40ft container and ending a six-week streak of increases.

Other indices painted a more mixed picture: the SCFI held steady at $3,996 per 40ft, as did Xeneta’s XSI at $3,393. Freightos’ FBX, however, stood out with a 14% increase, bringing its Asia–North Europe rate to $3,522. One forwarder described market pricing as mostly flat, noting that some high-end carriers lowered rates slightly to stay competitive.

“Space is relatively easy to get—even in the run-up to peak season,” he added. “Aside from Xiamen, where space is tighter, most shipments are moving without major issues.”

/////       AIR  CARGO   NEWS   /////

London Southend airport closed after plane crash


A major emergency unfolded at London Southend Airport after a small plane crashed shortly after takeoff, triggering a large blaze and thick plumes of smoke visible from surrounding areas. 

In a statement posted on social media, the airport confirmed a “serious incident” involving a general aviation aircraft. Eyewitness footage circulating online captured dramatic scenes of a fireball erupting at the crash site, with emergency services rushing to contain the situation. 

The aircraft, reportedly around 12 meters (39 feet) in length, appeared to struggle moments after leaving the runway. John Johnson, a witness present at the airport with his family, described the terrifying moment.

“It took off and within seconds banked sharply to the left, then inverted and went straight down,” he said. “We saw a huge fireball right after impact.”

London Southend Airport’s onsite fire crew responded immediately, dispatching two fire engines to the crash location followed closely by local police, ambulance crews and Essex County Fire & Rescue Service.


Lufthansa Cargo plans new VR training for aircraft loading supervisors


Lufthansa Cargo will roll out a virtual reality (VR) training programme for aircraft loading supervisors starting October 2025, aiming to train staff more flexibly and safely.

The programme will allow ground personnel to practise aircraft handling tasks in a realistic virtual environment, as part of the company’s plan to expand its digitalisation projects in air freight operations. The VR training will allow employees to practise processes, safety regulations and communication in a virtual setting, independent of live operations.

The goal is to help staff learn faster and understand tasks more effectively through immersive practice. "With this project, we are not only strengthening the qualifications of our Aircraft Loading Supervisors but also our role as an innovation driver in the industry.

This technology allows us to train our employees in a practical manner while ensuring the highest safety and efficiency standards," said Momo Ruzic, Station Manager Frankfurt at Lufthansa Cargo.

Lufthansa Cargo says using VR will help reduce training costs and lower the need for physical resources, providing a flexible and environmentally friendly alternative to traditional training methods.

Plane hit by cargo truck at Mumbai airport


A cargo truck hit an Akasa Air Boeing 737 aircraft parked at Mumbai airport in the early hours of Monday. Akasa confirmed the incident. The airline, in a statement, said a third-party ground handler was operating the cargo truck that came in contact with the aircraft. 

"The aircraft is currently undergoing a thorough inspection, and we are investigating the incident with the third-party ground handler," the airline added. The aircraft operated a flight from Bengaluru and landed and docked at the Mumbai airport when the incident occurred, said sources.

Middle East, India key strategic markets for Air France-KLM


The Middle East remains a key market for Air France-KLM, and the European carrier is taking steps to expand capacity here. “Overall, the aviation sector in UAE is experiencing growth. For Air France and KLM, we’ve good load factors and positive trends, which has enabled us to increase capacity in Dubai, with the deployment of the Boeing 777s.

There are opportunities for further expansion in the region, our willingness to add more capacity from Dubai is strong, however, we are currently facing constraints, as the slots are limited,” Stefan Gumuseli, Air France-KLM’s general manager for India and the Middle East, said in an interview. 

Currently, Air France and KLM serve eight cities across Middle East and India, operating 89 weekly flights. “In the Middle East, our network includes Beirut, Cairo, Dubai, Dammam, and Riyadh and In India, we operate from Bengaluru, Delhi, and Mumbai and soon Hyderabad.

 

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, Cargo Forwarder Global  &  Air Cargo News.

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