JUPITER SEA & AIR
SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91 98407 85202
Corporate News
Letter for Wednesday - July 30, 2025
Today’s Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
86.81 |
0.139999 |
0.161532 |
86.84 |
86.67 |
86.77- 86.9275 |
|
|
1.1579 |
-0.001 |
-0.086293 |
1.1589 |
1.1589 |
1.1527- 1.1599 |
|
|
115.9194 |
-0.327095 |
-0.281381 |
115.897 |
116.2465 |
115.6952- 116.0286 |
|
|
100.5 |
-0.614899 |
-0.608119 |
100.6215 |
101.1149 |
100.1841- 100.6679 |
|
|
148.5 |
-0.029999 |
-0.020197 |
148.53 |
148.53 |
148.161- 148.752 |
|
|
1.3357 |
0.0001 |
0.007489 |
1.3356 |
1.3356 |
1.3316- 1.3362 |
|
|
98.751 |
0.116997 |
0.118617 |
98.637 |
98.634 |
98.584- 99.048 |
|
|
0.5843 |
-0.0008 |
-0.136731 |
0.5836 |
0.5851 |
0.5833- 0.5861 |
/// Sea Cargo News ///
India-EFTA trade deal from October 1: Piyush Goyal
The free trade agreement between India
and the four-nation European bloc EFTA will be implemented from October 1,
Commerce and Industry Minister Piyush Goyal said.
India, on March 10, 2024, signed a trade
pact with the four-nation bloc – the European Free Trade Association (EFTA) –
which not only gives access to India’s goods and services to that market but
also opens possibilities of $100 billion in investments in the country over 15
years. "India-EFTA TEPA to come into effect from 1st October,"
Goyal said in a post on X.
The EFTA trade pact, the negotiations for
which began in 2008, includes 100% market access to Indian non-agricultural
products and concessions on processed agricultural products (PAP), while
keeping primary agricultural products out of the ambit of the pact.
EFTA will eliminate or reduce import
tariffs on 99.6% of India’s exports. India will eliminate or reduce import
tariffs on 95.3% of the exports from EFTA nations. However, the effective duty
on gold which forms 80% of exports from EFTA countries, remains untouched at
15%.
The trade pact also has provisions for
mutual recognition agreements in professional services like nursing, chartered
accountants and architects among others. This should allow these professionals
from India to have more opportunities in the four EFTA block countries.
On intellectual property rights, the two
sides agreed to follow the high standards of the Trade-Related Intellectual
Property Rights (TRIPS) agreement. India’s interests in generic medicines and
concerns related to the evergreening of patents have been fully addressed.
Bangladesh plans to import 9 lakh tonn rice from India
Indian rice millers and exporters are upbeat about Bangladesh's "plan to import 9 lakh tonnes of rice", anticipating a boost in demand and better prices for the cereal, stakeholders said on Sunday.
With India accounting for 46 per cent of
global rice exports, the country is expected to "emerge as the primary
beneficiary of the move for its proximity, availability, and competitive
pricing", they said.
"Of the total import plan, 4 lakh
tonnes will be procured directly by the Bangladesh government through
international tenders, while another 5 lakh tonnes will be imported by private
traders of the neighbouring country. The decision comes earlier than usual,
amid fear of crop loss due to heavy rain that could impact Bangladesh's Amon
paddy currently being sown," Ricevilla Foods CEO Suraj Agarwal said.
Port Houston surpasses 2 Million TEUs in June
Port Houston marked a milestone in June,
surpassing 2 million twenty-foot equivalent units (TEUs) handled year-to-date,
according to the company's release.
Container volumes for the month totaled
331,864 TEUs, a 2% dip compared to the same month last year, but volumes remain
up 3% year-to-date at 2,169,677 TEUs. Resin exports continue to drive
demand at Port Houston’s container terminals, which hold a 60% market share for
resin commodities.
Loaded container imports were down 9% for
the month. Port Houston is implementing a reefer import dwell fee at its
terminals effective August 1 that applies to loaded refrigerated import
containers.
“This fee, relevant specifically to
reefers that dwell in our yards longer periods of time, is necessary for us to
make efficient use of our terminal space and provide optimal service levels to
all of our customers,” said Charlie Jenkins, CEO at Port Houston.
As for other volumes, general cargo at
Port Houston’s public terminals rose 6% year to date and steel imports are up
3%, totalling 2,184,349 tons so far this year.
Overall tonnage across the Port’s public facilities reached 27,460,673
short tons through June, up 3% from the last year.
Port Houston has owned and operated the
eight public wharves and terminals along the Houston Ship Channel, including
the area’s largest breakbulk facility and two of the most efficient container
terminals in the country.
Port Houston is the advocate and a
strategic leader for the Channel. Ship Channel complex and its more than 200
private and eight public terminals are the nation’s largest port for waterborne
tonnage and an essential economic engine for the Houston region, the State of
Texas, and the USA.
Pakistan cuts Karachi port charges by 50% in climate-focused maritime
reform push
Federal Minister for Maritime Affairs
Muhammad Junaid Anwar Chaudhry on Saturday announced a 50% reduction in Karachi
Port charges, in a move aimed at cutting trade logistics costs and promoting
climate-resilient, low-emission shipping practices.
The reform is part of a broader strategy to modernize Pakistan’s maritime sector and reduce its carbon footprint, as the country works to align trade infrastructure with global environmental standards. “By lowering operational costs and streamlining logistics, we are not only boosting trade competitiveness but also contributing to climate resilience,” Chaudhry said in a statement issued by his office.
The new measures include halving charges
related to port handling, vessel services and storage while scrapping a
previously planned annual five percent fee hike. Officials say the move is
expected to benefit exporters of dry bulk goods and reduce emissions by
improving port turnaround times and easing congestion.
“This isn’t just a financial measure,”
Chaudhary added. “It’s a pivot toward low-impact, future ready maritime trade.
A more efficient port reduces idle time for vessels, lowers fuel consumption
and supports greener supply chains”.
Karachi Port is one of Pakistan’s largest
and busiest deep water seaports, handling a significant share of the country’s
import and export traffic. Officials say the reforms will enhance the port’s
efficiency while positioning it as a regional hug for climate-conscious
maritime activity.
The announcement follows recent steps by
the ministry to improve logistics and infrastructure, including the formation
of a high level committee to reduce container dwell times by 70%, and the
deployment of advanced technologies such as AI and Drones for port monitoring.
First Bangladeshi cargo ship set to dock at Gwadar
For the first time since Bangladesh gained independence in 1971, a cargo ship bearing the Bangladeshi flag is scheduled to arrive at Pakistan’s Gwadar port.
This development marks a significant
turning point in maritime relations between the two countries, following
Bangladesh’s recent openness to establishing direct sea connectivity with
Pakistan.
The initiative began with linkages
through Chittagong and Mongla ports towards the end of last year. The
cargo ship, transporting agricultural goods and industrial materials from
Bangladesh, is part of a broader government-to-government framework.
This includes an earlier agreement for
Bangladesh to export 50,000 tonnes of rice to Pakistan, reflecting a growing
economic partnership that has gained momentum in early 2025. Both Islamabad and
Dhaka regard this as a milestone that could lead to more streamlined trade
routes and improved logistics.
Bangladesh’s caretaker government, led by
Muhammad Yunus, has eliminated previous restrictions such as compulsory
inspections for Pakistani cargo. This represents a policy shift from the former
administration and signals an intention to build stronger economic and
diplomatic relations with Pakistan. On the Pakistani side, the Foreign Minister
and military offices have undertaken diplomatic visits to Dhaka to discuss on
defence cooperation, showing a broader interest in enhancing bilateral ties.
The arrival of Bangladeshi cargo at
Gwadar Port also broadens Pakistan’s maritime outreach, effectively linking the
Arabian Sea to the Bay of Bengal. For Gwadar, an integral part of the
China-Pakistan Economic Corridor under the Belt and Road Initiative, this
development introduces new economic and strategic possibilities.
Nashik Airport sees fourfold surge in air cargo in Q1 FY26
Nashik
airport has witnessed a fourfold increase in air cargo volumes during the first
quarter of the 2025-26 financial year, handling 2,416 metric tonnes of cargo
between April and June. This is a sharp jump from the 556 metric tonnes managed
during the same period last fiscal, according to Halcon, which operates the
airport’s cargo services.
During
the quarter, 145 cargo flights transported a mix of agricultural produce,
poultry items, and industrial goods to international destinations, marking the
highest quarterly export volume since cargo operations began at the facility.
In comparison, the airport had handled 34 cargo flights in Q1 last year.
Halcon—a
joint venture between Hindustan Aeronautics Ltd (HAL) and Container Corporation
of India (Concor)- said that the airport managed 4,161 MT of goods through 250
flights during the entire 2024–25 fiscal.For FY26, it aims to handle around
7,000 MT across 400 cargo flights.
“We’ve
already achieved 35% of this year’s target”, a Halcon official said. Calling it
a promising development, Ashish Nahar, President of the Nashik Industries and
Manufacturers Association (NIMA) said, “There’s significant potential for the
air cargo growth from Nashik. NIMA is actively working to increase exports from
the region”. Cargo movement via
passenger flights has also seen a boost, thanks to improved air connectivity. A
private airline currently operates flights to six destinations : Delhi, Bengaluru,
Hyderabad, Ahmedabad, Goa and Indore.
Between
April and June 2025, around 124 tons of cargo including flowers, vegetables,
auto parts and couriers were transported by passenger aircrafts to Delhi,
Bengaluru, Hyderabad and Ahmedabad. Last fiscal, the total cargo moved on
passenger flights from Nashik stood at 165 tonnes.
The
Airline operates 232 seater A321s on Delhi and Bengaluru routes and 180 seater
A320s on other sectors. In response to growing cargo demand, it has also opened
a dedicated office at Halcon’s Air Cargo Complex near the airport for cargo
bookings.
IGI Airport wins award for sustainable aviation initiatives
Delhi
Airport has been awarded the IGBC Net Zero Waste to Landfill Platinum
certification for its terminals 1, 2, and 3. Delhi international airport
limited (DIAL), the airport operator, on Friday claimed that IGI Airport is the
first airport in India to receive this recognition for its operational
phase.
This
certification was conferred by the Indian green building council. Delhi
Airport's waste management infrastructure includes two-bin and four-bin
segregation systems, material recovery facilities, organic waste composters,
and real-time waste tracking mechanisms, which collectively enable maximum
resource recovery and minimal dependence on landfills.
CEO-DIAL,
Videh Kumar Jaipuriar, said, "This recognition is not just a
certification-it is validation of DIAL's unwavering commitment to building a
future-ready, climate-resilient airport ecosystem”.
“We are
proud to set the benchmark for Indian aviation in responsible waste management
and environmental governance. Our adaptability and proactive approach ensure
that we remain at the forefront of responsible and sustainable aviation”.
US threatens Mexican flights over cargo
The
Trump administration said on Saturday it is taking a series of actions against
Mexico over the Mexican government's decisions to rescind some flight slots for
U.S. carriers and force U.S. cargo carriers to relocate operations in Mexico
City.
U.S.
Transportation Secretary Sean Duffy said in a statement the department could
disapprove flight requests from Mexico if the government fails to address U.S.
concerns over decisions made in 2022 and 2023.
The
department is also proposing to withdraw antitrust immunity from the Delta Air
Lines joint venture with Aeromexico to address competitive issues in the
market. Mexico is the most popular international destination among U.S.
airline travellers.
Delta said if the U.S. Department of Transportation withdraws approval it "would cause significant harm to consumers traveling between the U.S. and Mexico, as well as U.S. jobs, communities, and transborder competition."
If the
U.S. rescinds antitrust approval for Delta and Aeromexico, they would be
required to discontinue cooperation on common pricing, capacity management and
revenue sharing. But Delta would also be able to retain its equity stake in
Aeromexico, maintain all of its existing flying in the U.S. – Mexico market
unimpeded and continue a partnership.
TSG delivers first A321 freighter to Poland’s Warsaw Cargo
Air
Transport Services Group (ATSG), a major player in cargo aircraft leasing and
air cargo transport, has delivered its first Airbus A321 passenger-to-freighter
(P2F) conversion certified by the European Union Aviation Safety Agency (EASA).
The
aircraft has been handed over to Warsaw Cargo, a growing air cargo carrier
based in Warsaw, Poland, according to an official release from ATSG. The
A321-200PCF is a highly capable narrowbody freighter that brings modern
efficiency and versatility to regional air cargo networks.
Converted
through 321 Precision Conversions, a joint venture of ATSG, the aircraft
features containerised main deck cargo capability, excellent fuel efficiency,
and a payload capacity of up to 27 tonnes. Its design makes it particularly
well-suited for time-sensitive shipments in high-density,
short-to-medium-haul markets.
Warsaw
Cargo, known for its adaptable Aircraft, Crew, Maintenance and Insurance (ACMI)
and charter solutions for short and long term cargo operations, is set to
strengthen its regional capabilities with the addition of an A321 freighter to
its fleet.
The
aircraft will support expanding express and e-commerce cargo demand across
Europe and neighbouring markets, the release added.
“As a
new cargo carrier, we’re focused on building a strong foundation with the right
partners and the right equipment,” says Jaroslaw Chlopecki, CEO – Warsaw Cargo.
“This A321 freighter allows us to launch operations with a reliable, efficient
aircraft platform, and ATSG’s expertise and their support have been
instrumental. We’re excited to meet the growing demand for regional cargo
service across Europe”.
Trump’s tariff stampede backfires on
U.S. aviation industry
The Trump administration’s zig-zagging tariff policy will most likely be the focus of future economics lectures at U.S. Universities, when it comes to looking at how reckless tariff decisions can cause lasting damage to one’s own industry – in particular when it comes to the aviation sector.
Trump’s signature on the decree to impose 30% tariffs on EU products from 01AUG25
As
things stand, Trump’s threat to impose a 30% tariff threshold on EU products
exported to the USA, and even 50% on imports from Brazil, come 01AUG25,
resembles a trade embargo.
The
losers in this tariffs spiral are manufacturers, consumers, traders and the
transport industry. But hardest hit are U.S. manufacturer Boeing and its
Brazilian peer, Embraer. This is because a large proportion of the components
that the U.S. frame maker needs for assembling its B737 MAX or the B787, stem
from European sources or are contributed by second or third tier partners from
Japan, Korea or other manufacturers based in the Far East.
Ill-timed
decision
Provided Trump’s tariffs come into force, the price of these supplies payable
from Boeing’s coffers will make the frame maker’s jetliners significantly more
expensive. Hence, demand will drop and sales figures will plummet.
For
Boeing, Trump’s tariffs are an ill-timed decision. The manufacturer is
currently recovering from its multiple crises and is on the upswing. This can
be seen by the wide-body jet B777-X, which was due to be delivered to launch
customer Lufthansa, in 2020, but the program was repeatedly delayed due to a
series of technical setbacks. However, Boeing assured trade media that the
aircraft is now on track. The same applies to the planned cargo version of the
big jetliner.
Only
losers, no winners
Airbus is likely to suffer less from Trump’s tariff policy because, unlike
Boeing, the European manufacturer diversified the production of its aircraft by
erecting final assembly lines in Canada (Mirabel, Quebec), China (Tianjin), and
the USA (Mobile), complementing its main production sites in France (Toulouse)
and Germany (Hamburg). If Trump does not withdraw his tariff threat against the
EU, Brussels is likely to impose counter-tariffs on U.S. products, which would
increase the price of aircraft turbines from Pratt + Whitney, CFM
International, and General Electric, harming well-paid jobs in the USA.
There
are still eleven days left to reach a trade agreement suiting both sides. But
if Trump persists with his tariff stampede, there is a risk of serious rifts
between Washington and Brussels, where there are only losers, not winners.
In
comparison to Airbus, the outlook for Brazilian manufacturer, Embraer, is even
gloomier as thanks to Trump’s tariff announcement, its aircraft, if ordered by
U.S. airlines, will become 50% more expensive come AUG25. In this case,
however, the reason is not economic but purely political. Embraer currently has
around 200 orders placed by Skywest, American Airlines and Republic. In
addition, the Brazilians have just entered into the production of freighters that
fill a global gap in the medium production segment and can support integrators
to provide feeder services on thin routes. This program is also on the brink if
Trump does not back down from his tariffs.
Backing
Brazil’s Messiah
By imposing these tariffs, the U.S. autocrat wants to support his brother in
faith, Jair Messias Bolsonaro, putting pressure on the Brazilian judiciary to
withdraw the accusation of a coup d’état orchestrated by former president
Bolsonaro and some followers on 08JAN23.
On his
Truth Social platform, Trump addressed Bolsonaro last Thursday (17JUL25): “I
have seen how terribly you are being treated by an unjust system that is
directed against you. This process should end immediately!”
In the
meantime, the Brazilian government has announced a tit-for-tat policy by
imposing tariffs that match those set by Trump. Last week, the country’s
Supreme Court ordered Bolsonaro to wear an electronic tag as he is a flight
risk seeking asylum in the USA. His passport was already revoked on 08FEB24.
The
tariffs Trump has imposed on Brazil, the EU, and others, will probably be on
the curriculum of future students of economics and international politics at
U.S. universities – as a prime example of erratic government policy.
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.
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