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 October 10, 2025
Today’s
Exchange Rates
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CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
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88.785 |
0.014999 |
0.016891 |
88.755 |
88.80 |
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1.1621 |
-0.0007 |
-0.060199 |
1.1629 |
1.1628 |
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118.7023 |
-0.303497 |
-0.255027 |
119.0443 |
119.0058 |
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103.1192 |
0.020805 |
0.02018 |
103.3478 |
103.0984 |
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152.699 |
0.009003 |
0.005896 |
152.69 |
152.69 |
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1.3378 |
-0.0026 |
-0.193969 |
1.3404 |
1.3404 |
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98.94 |
0.025002 |
0.025276 |
98.844 |
98.915 |
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0.581 |
-0.0015 |
-0.257513 |
0.5814 |
0.5825 |
/// Sea Cargo News ///
Unified Command completes Pier G container
salvage
The
Unified Command has completed salvage operations for the Pier G container
incident. All 95 containers that fell overboard from the vessel Missisippi have
been recovered in and around the Port of Long Beach.
Initial
counts underestimated the number of containers because several were submerged,
crushed or hidden in the nearby boat basin. At 3.28 p.m., the final container
was lifted, officially ending the operation.
“Safety
guided every decision – from divers recovering containers to managing vessel
traffic through the safety zone”, said Capt. Stacey Crecy, U. S. Coast Guard
incident Commander.
“”By
working with the Port of Long Beach and Partners nationwide, we completed a
complex operation and restored safe port operations in just a few weeks”. Key response actions included :
^ Using sonar and remotely operated vehicle to
locate submerged containers.
^ Deploying dive teams to inspect the vessel
and assist with recovery.
^ Repositioning the Mississippi to access
trapped containers.
^ Reducing the safety zone from 500 to 100
yards and keeping mariners informed.
All
vessel traffic restrictions have been lifted and Pier G Terminal operations are
fully restored. During the salvage phase, 142 vessels transits were authorised
to maintain port activity.
The
U. S. Coast Guard and National Transportation Safety Board are continuing to
investigate the cause of the incident.
Maersk ends slot agreement on Brazex/BZX service
Maersk
has withdrawn from its slot arrangement on the Brazex/BZX service operated by
CMA CGM and COSCO Shipping lines. The service links the U. S. Gulf with the
East Coast of South America.
The
Current Brazex/BZX rotation is :
Veracruz – Altamira – Houston – New Orleans – Cartagena – Suape – Santos
– Buenos Aires – Montvideo – Rio Grande – Itajai – Paranagua – Santos –
Cartagena – Veracruz.
Carriers launch new
services to tap growing China–Southeast Asia trade
Global shipping lines are expanding services between China and Southeast Asia to capture rising regional trade volumes, with several carriers announcing new joint operations and route realignments to meet surging demand.
Taiwanese
majors Evergreen Marine, Yang Ming Marine Transport, and Wan Hai Lines have
unveiled a joint North China–Indonesia–Malaysia service, scheduled to commence
on October 31.
The new route aims to strengthen direct connectivity between key Chinese ports and major Southeast Asian destinations, reducing transit times and improving service reliability.
The surge in China–ASEAN trade, driven by robust manufacturing linkages, supply chain realignments, and growing consumer demand, has prompted carriers to recalibrate intra-Asia networks. Several operators are adding sailings, deploying larger vessels and adjusting port rotations to accommodate increasing trade flows.
Soaring poultry demand
may drive India to import US soybean meal
India
may need to import soybean meal from the US in the future to meet rising demand
from its rapidly expanding poultry sector, despite being currently
self-sufficient, according to the livestock feed manufacturers'
association.
Speaking
at a curtain raiser event for the 17th Poultry India Expo, to be held in
Hyderabad from November 25-28, Divya Kumar Gulati, chairman of the Compound
Livestock Feed Manufacturers Association (CLFMA), said trade negotiations
between India and the US could pave the way for imports of the protein-rich
animal feed ingredient.
"There
is trade negotiation going on between India and the US. As I mentioned earlier,
a CLFMA delegate was just there in the US. So we have experienced, the US
farmers are losing money, a lot of money because China has stopped buying. So
they are in desperate situation at the moment, they need to sell
somewhere," Gulati said responding to media query.
He said a CLFMA delegation had recently visited farms in the USA, where farmers were “losing money badly. We are assuming that the trade deal will be struck soon,” he added. Gulati emphasised that the US was looking to promote Soybean meal, not soybeans.
The
government first allowed import of 1.2 Million tonne GM soybean meal in 2021
with additional import quotas granted in 2022 and discussions around further
allowances continuing amid trade negotiations with the USA. However, these
imports remain tightly regulated and are limited to certain authorized ports
with prior clearance requirements.
Ellerman takes slots on CMA CGM NW Europe – Iberia loop
Unimed Feeder adds Syria call, adjusts
Egypt-East Med loop
Diamond Line restructures GBP Service
CMA CGM and COSCO adjust PEX2/CAX1 service
rotation
CMA CGM and COSCO Shipping Lines have amended the eastbound PEX2/CAX1 service from the Far East to the Caribbean, removing Kaoshiung and Manzanillo (Mexcico, Pacific Coast) from the rotation.
Kaoshiung has already been dropped earlier this year but was temporarily reinstated before being cut again.
The
revised rotation is : Singapore – Shenzhen (Shekou) – Hong Kong – Ningbo –
Shanghai – Qingdao – Busan – Balboa – Colon (Manzailio, Panama) – Cartagena –
Kingston – Caucedo – Singapore.
IAI finally receives STC from FAA for
777-300 freighter conversion
Boeing
777-300ERSFIsrael
Aerospace Industries (IAI) has received a Supplemental Type Certificate (STC)
certificate from both the US Federal Aviation Administration (FAA) and the
Civil Aviation Authority of Israel (CAAI) for its Boeing 777-300ERSF
passenger to freighter (P2F) conversion.
Gaining
the STC for the 777-300ERSF is the last major hurdle for IAI, whose
777-300 conversion programme will be first to market.
The
company had been hoping to receive approval from the CAAI by the end
of 2022 and the US FAA soon after but
faced several delays.
Yaacov
Berkovitz, executive vice president and general manager of IAI’s Aviation
Group, said: "After years of dedicated effort, especially during the past
year, we are excited to receive the STC certificate for the P2F conversion
of Boeing 777 aircraft from both the FAA and CAAI – a breakthrough that
reflects our commitment to innovation, engineering excellence and global
leadership in aircraft conversions.
"This
milestone sets a new standard in air cargo, delivering a unique combination of
high payload capacity, volume and operational efficiency."
AerCap is
the launch customer for IAI's 777-300ERSF conversion programme, while US
cargo airline, Kalitta Air will serve as the launch operator.
IAI first
started structural modification work on the freighter conversion in 2021 and the first
flight for the converted aircraft took place
in March 2023.
Boaz Levy,
president and chief executive of IAI, said: "IAI is a global leader in
passenger-to freighter aircraft conversions, standing at the forefront of
aeronautical technology and building on its extensive capabilities as Israel's
largest aerospace company.
"The
company takes great pride in being the first in the world to convert a Boeing
777 into a freighter. Receiving certification from aviation authorities
highlights IAI's technological, engineering and operational expertise and
positions the company as a pioneer in this field.
"This
remarkable capability is the result of the company's professionalism and
determination, paving the way for a broad expansion of our business activities
with leading customers worldwide, and strengthening global e-commerce through
advanced freighter aircraft solutions."
The
777-300ERSF, also known as ‘The Big Twin’, has a payload of 100 tons. Rival
conversion company, Mammoth Freighters is expected to complete its first 777-300ERMF freighter conversion by the end of this year.
US postal volumes plummet following de
minimis suspension
Postal
volumes being transported to US - largely by airfreight - have dropped by more
than 80% following the country’s suspension of the duty-free de minimis
exemption.
The
US suspended de minimis globally on 29 August, following the end of the exemption for China and Hong Kong at
the start of May.
The
exemption had allowed e-commerce platforms to fly packages worth less than $800
into the country without paying any import fees, resulting in a boom in online
sales in recent years.
The
Universal Postal Union (UPU) said new rules placed the burden of customs duty
collection and remittance on transportation carriers or US Customs and Border
Protection (CBP) agency-approved qualified parties.
“Carriers,
such as airlines, signalled they were unwilling or unable to bear this
responsibility and postal operators had not yet established a link to the list
of CBP qualified parties, causing major operational disruptions,” the UPU said.
Following
the suspension, more than 88 postal operators have now suspended some or all
postal services to the US until a solution is implemented.
In an
update issued this weekend, the UPU said it had deployed a tool that would help
postal operators calculate and collect duties.
As of 5
September, postal operators can access a landed-cost calculator via an
application programming interface (API) that can be plugged into their retail
and counter solutions. The solution enables posts to calculate and collect the
required duties from customers at origin.
The UPU’s
Delivered Duty Paid (DDP) solution will also soon be integrated in its Customs
Declaration System (CDS) platform, allowing a gradual roll-out by the 176
postal operators using this platform.
Solutions
to transfer the required data and to remit the amounts to the qualified third
party will also be provided, and posts will have at their disposal all the
necessary technological tools to keep the mail moving. The UPU will support
postal operators with the roll out of this complete solution, including
adapting their internal procedures and training postal staff.
“The UPU
has in its mission the responsibility to guarantee the free circulation of
postal items over a single postal territory. We’re working to uphold that
responsibility with the rapid development of a new technical solution that will
help get mail moving to the United States again,” said UPU director general
Masahiko Metoki.
Under the
postal network exception, goods shipped through the postal system will face one
of two duty types:
·
Ad valorem duty: A tariff based on the
package’s value, calculated using the tariff rate for the country of origin
under the International Emergency Economic Powers Act (IEEPA).
·
Specific duty: A flat rate of $80 - $200
per item, also based on the effective IEEPA tariff rate applicable to the
country of origin of the product.
The
specific duty option will be available for six months, after which
all applicable shipments must comply with the ad valorem duty
methodology.
Low-value goods shipped through means other than the international postal system will be subject to all applicable duties immediately.
Top 25 cargo carriers: Major gains in
2024
2024
proved to be an outstanding year for air cargo volumes, with demand outpacing
capacity as the industry benefited from disruption to ocean shipping caused by
the Red Sea conflict as well as the e-commerce boom.
Global
2024 demand for the top 25 airlines, measured in cargo tonne-km (CTK) was up
9.4% year on year, according to data from the most recent IATA World Air
Transport Statistics (WATS) report.
Federal
Express (FedEx) retained its spot at the top of the leaderboard, although its
year-on-year growth of 1.2% to 18.1bn CTK, was slight compared to the other
airlines, and especially compared to others in the top 10.
The US
cargo carrier saw increased demand for international export parcels, but this
was offset by lower US import, domestic parcel and freight volumes. The company
also saw its deal with the US Postal Service (USPS) end as the contract was transferred to UPS.
FedEx
stated in its annual report: “The decline in US imports of consumer goods that
started in late 2022, along with slowed global industrial production, has
contributed to weakened economic conditions for the transportation industry.
Consequently, this environment has led to lower freight and package volumes at
FedEx Express and FedEx Freight, negatively affecting our results in 2024.”
“US
domestic average daily package volumes declined 4% in 2024 as global economic
factors led to reduced demand for our services,” said FedEx about its Express
segment.
“These
declines were partially offset by an increase in international export package
volume of 4% in 2024 driven by a mix shift toward our deferred product
offerings, partially offset by a global decline in international priority
package volume.”
“These
declines were partially offset by an increase in international export package
volume of 4% in 2024 driven by a mix shift toward our deferred product
offerings, partially offset by a global decline in international priority
package volume.”
FedEx said
reduced consumer spending due to inflation and high interest rates, decreased
manufacturing of goods and changing supply chains influenced by the uptake of
near-shoring and reshoring meant it transported fewer goods, over shorter
distances.
It added:
“Further, the scale of our operations and our relatively high fixed-cost
structure, particularly with respect to our air network, make it difficult to
quickly adjust to match shifting volume levels.”
During the
year, FedEx redesigned its Tricolor global air network to improve density and
asset utilisation as it looked to increase its global airfreight market share.
The
airline, which had announced its DRIVE cost-cutting scheme the previous year,
also reduced its air network costs by network rationalisation, reduction of
flight hours and reduction of staff in Europe.
Additionally,
it decreased its US domestic flight hours by nearly 25% following the end of
its US postal service contract, which ended in September 2024.
During the
year, FedEx continued to remove older freighters from its fleet, focusing on a
mix of widebody and small, regional aircraft.
As of 7
June 2024, the FedEx Express global air network included a fleet of 698
aircraft, including 692 owned aircraft and six leased aircraft. This is
compared to 700 aircraft a year earlier.
FedEx had
a total of 138 Boeing 767Fs, up 10 year on year; 92 Boeing 757-200Fs, down 23
year on year; 57 Boeing 777Fs, up 4 year on year; 65 Airbus A300-600Fs; 37
Boeing MD11s, down 9; 57 ATRs, up 7; and 252 Cessnas, up 9.
It retired from service 22 Boeing 757-200Fs and nine MD-11Fs. It plans to retire its entire MD-11
fleet by the end of 2028.
FedEx is
scheduled to take delivery of two 777Fs, 14 767Fs, 10 ATR-72 600Fs, and 31
Cessna 408 aircraft by the end of 2026.
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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