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 |
86.31 |
0.139999 |
0.162488 |
86.22 |
86.16 |
86.195- 86.3625 |
|
1.1688 |
0.0062 |
0.533284 |
1.1634 |
1.1626 |
1.1683- 1.1696 |
|
116.1418 |
-0.012703 |
-0.010936 |
115.6496 |
116.1545 |
115.6496- 116.1527 |
|
100.4877 |
-0.011597 |
-0.011539 |
100.2077 |
100.4993 |
100.2077- 100.521 |
|
147.487 |
-1.322998 |
-0.889052 |
148.15 |
148.81 |
147.311- 147.713 |
|
1.348 |
0.0064 |
0.47705 |
1.3425 |
1.3416 |
1.3477- 1.3492 |
|
98.23 |
-0.251999 |
-0.255883 |
98.357 |
98.482 |
98.167- 98.508 |
|
0.5835 |
0.00 |
0.00 |
0.5822 |
0.5835 |
0.5803- 0.5838 |
|
1.3687 |
-0.0039 |
-0.284127 |
1.3719 |
1.3726 |
1.3676- 1.369 |
|
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.”
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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