JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.

 

E-MAIL : Robert.sands@jupiterseaair.co.in   Mobile : +91 98407 85202

 

 

Corporate News Letter for  Thursday -  July  31,  2025

Today’s Exchange Rates

CURRENCY▲	PRICE	CHANGE	%CHANGE	OPEN	PREV.CLOSE
USD/INR	87.48	0.660004	0.760198	87.10	86.82
EUR/USD	1.1548	0.0001	0.008662	1.1547	1.1547
GBP/INR	117.0231	1.103699	0.952126	116.3736	115.9194
EUR/INR	101.0759	0.575897	0.573032	100.7268	100.50
USD/JPY	147.992	-0.468002	-0.315238	148.46	148.46
GBP/USD	1.3376	0.0025	0.187247	1.3351	1.3351
DXY Index	98.803	-0.083	-0.083935	98.922	98.886
JPY/INR	0.5913	0.0072	1.232666	0.5847	0.5841

///                   Sea Cargo News            ///

How bills of lading bill signals India's next shipping logistics leap

In a largely empty House, amidst the din of a post-lunch Opposition walkout on July 21, the Rajya Sabha quietly passed a piece of legislation that could transform India’s maritime logistics and global trade flows.

The Bills of Lading Bill, 2025, which replaces the archaic 169-year-old Indian Bills of Lading Act of 1856, might lack the dramatic political appeal but its implications could ripple far deeper than most realise. 

The bill was cleared by the Lok Sabha during the budget session in March and will now go for the president’s assent before becoming a law. At its heart, the new legislation aims to modernise how India handles the most fundamental document in global shipping the bill of lading (BoL).

For centuries, this humble document, often printed on crisp bonded paper, has served as the holy trinity of international commerce: a receipt of goods, a contract of carriage and, most crucially, a document of title. Whoever held it “physically” owned the cargo, until now.

The Bills of Lading Bill legally recognises electronic bills of lading, enabling shipping lines, freight forwarders and importers and exporters to digitally issue, endorse and transfer BOL’s. In essence, it does to international cargo what the Unified Payments Interface (UPI) did to money; it removes the friction of physical presence and accelerates trust through secure digital systems.

The bills passage comes not a moment too soon. India is working aggressively to reduce logistics costs, currently hovering around 13-14% of the GDP, well above global averages. If the country is to become a serious node in resilient global supply chains, it must offer more than cheap labour and tax incentives. It must offer speed, predictability and interoperability. And that’s where the BoL reform matters.

Shipping expers have long flagged the use of physical BoLs as a bottleneck in India’s export value chain. When a container travels faster than the paper that certified its ownership, cargo sits idle at ports, buyers incur demurrage and insurers pull their hair out over liability gaps.

In many cases, the absence or delay of BoL’s forces importers to issue Letters of Indemnity, exposing banks and businesses to legal and financial risk. These frictions aren’t just technical they’re economic handbrakes.

The government has finally responded with an overhaul backed by international best practices. The new law aligns with the UNCITRAL Model Law on Electronic Transferable Records (MLETER) a global framework adopted by countries such as Singapore, the UK and Bahrain to facilitate legally valid  electronic documents in trade and shipping. It also syncs with India’s broader Gat Shakti logistics platform, the National Logistics Policy and digital trade initiatives such as the Unified Logistics Interface Platform (ULIP).

Putin orders control over ports, requiring FSB approval for foreign ships

Russia has tightened access to its seaports, with President Vladimir Putin signing a decree on Monday mandating that all vessels arriving from foreign ports must now obtain prior approval from the country’s Federal Security Service (FSB). 

The executive order, which takes effect immediately, marks a significant expansion of wartime maritime controls. Until now, FSB clearance was only required for ships entering ports near Russian naval bases. Under the new rules, all ships “en route from foreign ports” will be required to secure authorisation from an official representative of the FSB in coordination with the port captain. 

The Kremlin has not provided a formal rationale for the move, but the decree cites a constitutional provision governing military conditions — a likely reference to ongoing martial law statutes in regions of Russia bordering Ukraine.

Last week, Russia’s state run port operator FSUE Rosmorport announced a RUB 3.16 Billion (USD 39.5 Million) tender to inspect the underwater sections of vessels at key Baltic Sea ports amind mounting concerns over maritime sabotage.

The string of blasts recorded in recent months will likely initiate a review of war risk premium rates for vessels calling Russian Baltic Sea ports, maritime security specialist Ambrey suggested earlier this month. Ambrey is advising shipping companies to conduct asset screening assessments for all charter-party agreements and purchases, and to carry out the dynamic voyage risk assessments.

BIMCO clause to tackle US fees on China ships

The Documentary Committee of the world’s largest shipping association, BIMCO, has adopted a standard clause aimed at addressing contractual uncertainties that may arise from the US Trade Representative’s notice of actions to impose fees on Chinese-related ships calling US ports. 

A BIMCO subcommittee comprising legal and commercial experts began working on the clause at the start of June, prioritising its development after the USTR announced actions to impose fees on Chinese-built, owned, or operated ships calling at US ports. 

According to the association, the notice of action will significantly raise the cost of seaborne trade to and from the US and add to regulatory challenges for the shipping industry. They are part of the USTR’s “Section 301 Investigation of China’s Targeting of the Maritime, Logistics, and Shipbuilding Sectors for Dominance” and will also result in fees imposed on any car carrier built outside of the US.

“We anticipate that many of the current uncertainties surrounding the enabling provisions to give the USTR notice its intended effect will be resolved in the months following the implementation of the USTR fees,” said Nicholas Fell, Chairperson of BIMCO’s Documentary Committee.

Yang Ming splashes out on new containers and ships

Yang Ming has ordered over 40,000 new containers for USD 120 Million, ahead of the delivery of several new buildings. The containers were commissioned at China International Marine Containers (CIMC) and Guangdong Fuwa Equipment Manufacturing.

Of the Containers, 22,750 were ordered at CIMC and 17,650 at Guangdong Fuwa.

Yang Ming’s Director’s approved the container procurement on April 17, 2025 and the orders were placed after seeking tenders from manufacturers.

Yang Ming orders LNG dual-fuel vessels from Hanwha Ocean

Grimaldi’s First Ammonia Ready Car Carrier

Grimaldi Group has officially launched the Grande Shanghai, its first ammonia ready car carrier. A naming ceremony took place in Haimen, China – marking a major step forward in sustainable shipping.

 Built by China Merchants Heavy Industries, the Grande Shanghai is the first of ten new PCTC (Pure Car & Truck Carrier) vessels commissioned by the Italian shipping group. Also, the first five ships in the series will carry up to 9,000 CEUs (Car Equivalent Units), with the next five offering a larger 9,800 CEU capacity.

Named after China’s financial capital, the Grande Shanghai is a vessel designed with the future in mind. She promises to cut fuel consumption per carto unit by 50% compared to earlier models.

At 220 meters long, 38 meters wide, she can cruise at 18 knots and holds a gross tonnage of 93,145 tonnes. The ship spans 14 decks, ready to transport both traditional and electric vehicles.

The Grande Shanghai is also the first in Grimaldi’s fleet to be certified “Ammonia Ready” by RINA. This means the ship can be converted to run on Ammonia, a zero carbon fuel when the time comes. She also meets top environmental standard, having earned several class notations like Green Plus, Green Star 3 and Comfort vibration. 

Sustainability features include :

1) Mega Lithium Batteries (5 MWh), 2) 2,500 Sq. Meters of Solar Panels,  3) Cold ironing capability (Shore Power), 4) Smart ventilation and AC systems and 5) Silicon hull coating to reduce drag, 5) Exhaust Gas Scrubbers and 6) Selective Catalytic reduction to meet TIER III Nox Limits.

A stand out innovation is her gate rudder, installed for the first time on a PCTC. With twin foil bladed flanking the propeller, this design boosts propulsion and manoeuvrability.

Ransomware attack sinks 158 year old Transport firm in UK

According to BBC, a single weak password is believed to have ended a 158 year old UK transport company.

KNP, based in Northamptonshire, collapsed after falling victim to a ransomware attack. The breach left 700 people without jobs. The hackers, linked to the ransomware gang Akira, got in by guessing an employee’s password, according to a BBC report.

Once inside, they locked the company out of its systems and demanded a ransom. KNP couldn’t pay.

A ransom note left by the gang read, “If you’re reading this it means the internal infrastructure of your company is fully of partially dead… Let’s keep all the tears and resentment to ourselves and try to build a constructive dialogue”.

No ransom figure was given, but cyber experts estimated the demand could have been as high as GBP 5 Million. KNP was operating around 500 trucks under the “Knights of Old” brand when it was hit in 2023. Despite having cyber insurance and meeting industry standards, the attack proved too much and fatal.

Company Director Paul Abbott told the BBC he hadn’t told he employee whose password was likely compromised. “Would you want to know if it was you?”, he said. Additionally, Richard Horne, CEO of the National Cyber Security Centre, stressed the need for businesses to secure their systems.

“We need organisations to take steps to secure their systems, to secure their businesses,” he told the BBC’s Panorama, which was given access to the team tackling these international threats. KNP joins a growing list of UK firms hit by cyber attacks. In recent months, companies like M & S, Co-op and Harrods have also seen data breaches. Co-op confirmed all 6.5 million of its members had their data stolen.

Saudi Arabia charts bold course to overtake Gulf rivals as regional port warehouse

In a move set to redefine the maritime landscape of the Gulf and the wider Middle East, Saudi Arabia signed long term concession contracts worth over US$ 586 Million to develop and operate multipurpose cargo terminals at 8 major ports across the Kingdom.

The agreements, awarded to Singapore’s PSA-backed Saudi Global Ports and the Saudi Malaysian Joint Venture Red Sea Gateway Terminal, reflect Riyadh’s accelerating ambitions to become a regional logistics titan and perhaps, a direct challenger to the United Arab Emirate’s dominance in Gulf shipping.

Lloyd’s Register becomes first certifying authority for Un-manned and Autonomous vessels

Lloyd’s Register has become the First Certifying Authority – authorised by the UK Maritme and Coastguard Agency to certify remotely operated and un-manned vessels under Annex 2 of the Workboat Code Edition 3.

The milestone authorization allows LR to certify ROUV’s under 24 meters in length, which are required to meet rigorous safety and operational standards to operate in UK waters in accordance with the WBC-3 frame work.

The approval builds upon LR’s existing capabilities under its Un-manned Marine Systems Code, positioning the organisation to deliver comprehen-sive, end-to-end certification services for the rapidly growing unmanned and autonomous vessel sector.

Jordan McRuvie, Marine & Offshore Specialist for Un-manned Marine Systems at Lloyd’s Register, highlighted that this achievement was made possible through strong collaboration with key industry partners on pioneering projects.

 /////       AIR  CARGO   NEWS   /////

Pune airport international cargo operations begins with 3 import consignments in June

The city airport took its first steps towards international cargo imports in June with three consignments of items, including electronic parts for automobiles and chemicals related to fertilisers, arriving from UK's Heathrow Airport (via Delhi) through transshipment. 

Deputy general manager (cargo) for Pune airport, Pradeep Kumar, said all three consignments came on Air India flights. "The third consignment, consisting of personal artefacts, came directly from Bangkok. With this, international cargo imports have begun at Pune airport.

In future, we expect volumes to increase. Our cargo terminal, operational since 2023, has all the facilities needed to handle such consignments," Kumar said. The journey to this milestone had met with some turbulence in recent years.

In 2023, cargo movements at Pune airport were hit due to delays in clearances from the Bureau of Civil Aviation Security (BCAS). As a result, between Jan 2023 and Jan 2024, there were zero movements of international cargo from the airport.

Logistics experts, however, said that this was only the beginning and much more was needed. “While cargo imports have begun from Pune airport, they are not very well planned. They are tricky and require the involvement of many agencies, like FSSAI, Plant Quarantine etc.

The Airport needs proper support from trade bodies, well qualified and honest custom officials, airport cargo staff who should not steal or damage the goods while handling the cargo. If these help comes, everyone in Pune will benefit as costing will be less compared to Mumbai.

Terminal trials begin at Noida Airport

Moving a step closer to operationalisation, Noida International Airport has initiated ‘terminal trials,’ which is a critical phase that signals the start of final preparations before the airport becomes fully functional, industry sources said. 

According to sources, the full-fledged ‘terminal trials’ focus on testing passenger processes, systems integration, and coordination among various airport partners. Notably, the programme known as the ‘Operational Readiness Activation & Transition’ (ORAT) will continue until the commissioning, ensuring that all components of the airport ecosystem are “thoroughly tested and ready for real-time operations.” 

When contacted, authorities at NIA confirmed the development. As per NIA officials, the scope of ORAT at the greenfield airport is “comprehensive” and structured phase-wise.

The official cited that ORAT spans preparedness of infrastructure, operational systems and personnel, including stakeholders such as Airlines, Ground Handling Agencies, Commercial concessionaires and other key service providers.

Besides infrastructure readiness, the programme also aims to foster seamless coordination across all airport functions. Furthermore, the over arching objective of the ORAT process is to enable a smooth and safe transition from the construction phase to full-scale operations, with safety, efficiency and passenger experience remaining at the core.

“The phase-wise ORAT process began early in the project lifecycle with the formulation of operational concepts, manuals and procedures,” an NIA official said. In addition, familiarisation and training activities, as well as initial trials at the control centre, were initiated towards the end of 2024.

AIRSIDE Operations :

“Physical ORAT trials for airside operations commenced in early 2025. Additionally, full fledged terminal trials have been ongoing. In May 2025, sources said that India’s civil aviation safety watchdog commenced inspection of NIA for grant of regulatory clearance required to start commercial flight operations.

Initially, only domestic operations might start, followed by international flights. Earlier, an NIA official had said that the airport continues to progress steadily towards operational readiness. At present, the Air Control Tower (ATC) has become operational.

The Noida International Airport is expected to handle around 5 million in its maiden year of commercial operation. In its first phase of development  the airport, with one runway and one terminal, will have a capacity to handle traffic of 12 million passengers annually.

After the completion of the fourth phase, the airport will have the capacity to manage 70 million passengers per year. However, the airport had missed its completion deadline twice, once scheduled at the end of 2024 and the other one in April 2025, due to sourcing constraints of materials like structural steel and roofing work.

In terms of connectivity, airline major IndiGo is expected to be the first passenger carrier to start services from the Airport. The Airline had entered into a Memorandum of Understanding with NIA. Many foreign carriers have also shown interest in starting operations at the airport once it gets operational.

Pre-feasibility study of Vadhavan airport expected to be completed within 9 months 

Pre-feasibility study for a greenfield airport in Vadhavan Port area has been initiated and a report on the same is expected to be completed in six to nine months, officials aware of the development said. 

Earlier this month, a joint venture of Grant Thornton and Nippon Nippon Koei India emerged as the successful bidders to prepare the pre-feasibility report for Maharashtra Airport Development Company Ltd, an undertaking of Government of Maharashtra. 

“The site visit has already been undertaken and the work has started and the pre-feasibility report is expected to be completed in six to nine months,” an official said. Prime Minister Narendra Modi had earlier announced that the government will undertake development of a new airport near the ambitious Vadhavan Port project currently being undertaken along the coastline of Palghar district in western Maharashtra.

The government plans to integrate the proposed airport with all weather greenfield deep draft Vadhavan Port, in an effort to create a major logistics and trade hub, which will also include connectivity to one of India’s largest warehousing zones located in Maharashtra’s Bhiwandi.

Vadhavan Port area will be connected with dedicated rain and road infrastructure and the planned airport will add another mode transport-ation enabling a holistic multimodal development of the region.

According to the government, the Vadhavan Port, a deep draft port located on the India – Middle East – Europe Economic Corridor (IMEC), is projected to enhance India’s container handling capacity by 23.2 million

TEUs and will be instrumental in elevating India’s position amongst global maritime hubs.

Changi Airport reports growth across all cargo flows in Q2 2025

Changi Airport registered 516,000 tonnes of airfreight throughput in Q2 2025 – a 6.2% increase compared to the same period last year. Amid global trade uncertainties, Changi recorded growth across all cargo flows, with imports posting the strongest performance, increasing by 8% compared to Q2 2024. 

For this quarter, Changi’s top five air cargo markets were China, the US, Hong Kong, Australia and India. Lim Ching Kiat, Changi Airport Group’s executive vice president for air hub and cargo development, said: “We continue to see healthy growth in passenger traffic this quarter, supported by steady demand across key markets. 

“Notably, traffic to and from China and Indonesia recorded particularly strong growth in the second quarter, demonstrating our ongoing efforts to boost travel demand in the region. “Together with our airline partners, we strive to establish more connections for passengers to travel to new and exciting destinations.”

Jaisey Yip, Vice President of Cargo at Changi Airport, told Cargo Airports & Airline Services last month: “Given Singapore’s strategic and geographical location in the region, I think we are well placed to work with ourbusiness

Partners and customers to take on this potential”. She said, “We are confident that South East Asia will be the next epicentre for growth”.

Saudia Cargo launches ‘BEYOND’ campaign to expand exports worldwide

Saudia Cargo has launched its ‘BEYOND’ campaign to increase Saudi exports and strengthen their position in international markets. 

Run in partnership with the Saudi Export Development Authority and the 'Saudi Made' programme, the campaign supports the goals of Saudi Vision 2030 by boosting the Kingdom’s role in global trade and opening new shipping routes. 

The ‘BEYOND’ campaign uses the message “From Saudi to the World, We Reach Beyond” to show Saudia Cargo’s plan to move products from Saudi Arabia to more international destinations. The company said it will use its logistics network to carry agricultural crops, dairy products, and other national exports to new markets, including Manila, Kuala Lumpur, Addis Ababa, Jakarta, and Cairo. 

Saudia Cargo said on its official X account that it wants to help local manufacturers and small and medium-sized businesses reach new customers worldwide. The Company reported a 14% growth in exports last year compared to previous years.

This year, Saudia Cargo added a new route to Zhengzhou in China to strengthen its network. The company operates flights about 100 airports and 250 customer destinations across four continents.

Saudia Cargo is part of SkyTeam Cargo, which connects to 150 freighter destinations and nearly 800 passenger destinations worldwide. Its fleet of Boeing freighters carries different types of cargo, such as e-commerce, pharmaceuticals, high value shipments, hazardous goods and perishables.

Boeing begins 777-8 freighter production

Boeing has started production on the 777-8 freighter by drilling the first hole into a wing spar as it works towards the first aircraft delivery in 2028. About 100 teammates were at Boeing's 777X Composite Spar Shop at its Everett complex in Washington, US for the milestone occasion. 

Operator Casey McDowell, who was at the controls, said: “You don’t forget these moments. Having our team together as we got underway on this airplane was special.” Earlier this month, the aircraft manufacturer said it had created the first spar, the long beam that forms the critical load-bearing support, for the first 777-8F wing. 

Teams at the Composite Wing Center have fabricated the spars, along with skin panels and stringers. Each wing has two spars – front and rear – that measure 108 feet (33 meters) long. 

Fabricating a pair of spars for each wing requires 392 miles of carbon fibre tape – the length of the drive from Everett to the state of Montana. The combined weight of a pair of spars is 2,500 pounds. Next, the finished spars will be moved to the main Everett factory, where they’ll be assembled into the first 777-8 Freighter wings with the CWC parts and other components.

The 777-8F was originally anticipated to come to market in 2027, but in October 2024, Boeing announced it would delay launch until 2028. Customers have ordered 59 777-8Fs since Boeing launched the programme in 2022 with Qatar Airways as the launch customer.

Swissport expands in the UK

Swissport has signed binding transaction agreements to acquire ASC, which provides ground handling and cargo services at London Heathrow and Gatwick airports. 

The takeover supports Swissport's continued growth in the UK and provides it with additional ground and cargo handling capability at the airports, as well as access to additional cargo capacity at two warehouses at London Heathrow. 

In 2023, 48% of all UK air cargo was processed through Heathrow in 2023. This amounts to 70% of all UK air cargo by value. Over 198.5bn worth of goods travelled through Heathrow in 2023. Gatwick has £2.2bn expansion plans, including puting its northern runway into regular use. 

If given approval, Gatwick figures show this would bring in an additional 60,000 flights per year and boost cargo volumes to 161,500 tonnes by 2038 compared with 61,000 tonnes in 2023 and more than double 2019 levels.

Ignazio Coraci, Chairman of the Board of ASC, said : “This agreement will give our customers, employees and partners the opportunity to benefit from Swissport’s extensive global footprint with a broader range of services across its network”.  This transaction is subject to customary closing conditions.

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.