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 February
17, 2025
Today’s Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PRE.CLS |
DAY's LOW-HIGH |
|
90.65 |
0.00 |
0.00 |
90.61 |
90.65 |
90.61- 90.725 |
|
|
1.1853 |
0.0015 |
0.126391 |
1.1872 |
1.1868 |
1.1849- 1.1876 |
|
|
123.6982 |
0.2239 |
0.181333 |
123.6318 |
123.4743 |
123.6318- 123.8866 |
|
|
107.5532 |
0.045097 |
0.041948 |
107.5417 |
107.5081 |
107.5051- 107.6758 |
|
|
153.362 |
0.662003 |
0.433531 |
152.62 |
152.70 |
152.584- 153.637 |
|
|
1.3635 |
0.0016 |
0.11721 |
1.3637 |
1.3651 |
1.3629- 1.3662 |
|
|
96.997 |
0.082001 |
0.084611 |
96.875 |
96.915 |
96.875- 97.017 |
|
|
0.5904 |
0.0008 |
0.13532 |
0.5935 |
0.5912 |
0.5901- 0.5939 |
/// Sea Cargo News ///
India to Revoke 1963 Rule Allowing
Unlicensed Charter of Foreign Ships
India is set to revoke a 1963 gazette
notification that allowed Indian entities to charter foreign-flag vessels
without obtaining a licence, a move aimed at aligning legacy rules with the
country’s updated shipping framework.
The decision, reported by ETInfra, will
withdraw an exemption that has been in force for over six decades, enabling
Indian companies to hire foreign ships for carrying cargo without regulatory
approval from the Directorate General of Shipping (DG Shipping).
The exemption was introduced at a time when
India had limited shipping capacity and relied heavily on foreign tonnage.
Officials say the withdrawl is necessary to avoid inconsistencies with the
Coastal Shipping Act, 2025, which mandates licensing for foreign-flag vessels
chartered by Indian entities, whether for coastal operations or international
trade. Indian flagged vessels, however, will continue to operate without such
licensing requirements, reinforcing the government’s push to promote the
domestic fleet.
India–US Trade Deal Set to Boost
Coffee Export Prospects
Indian coffee exporters are poised for a
welcome lift following indications that a new India–United States trade
agreement will significantly lower U.S. tariffs on key agricultural products,
creating fresh opportunities in one of India’s largest overseas markets. Under
the
framework of the interim deal announced earlier this month, the United States
has agreed to reduce steep duties that had been imposed on a range of Indian
goods — including coffee — cutting the effective tariff burden and improving
competitiveness for exporters. Analysts say the move could reverse earlier
export slowdowns experienced after punitive tariffs were applied last year.
India is a notable supplier of coffee beans
and value-added coffee products to the U.S. market, and the tariff relief is
expected to enhance price parity with competitors and rebuild demand.
Industry stakeholders have also welcomed the
broader package of tariff reductions on products such as tea, spices and other
agro goods, which together strengthen India’s farm export outlook. The agreement
coincides with renewed market confidence in export oriented sectors, with
investors reacting positively to the prospect of stronger bilateral trade lies.
Lower duties are likely to encourage capacity expansion among India’s coffee
producers and deepen integration into U.S supply chains.
However, the deal has sparked debate
domestically. While exporters champion the tariff cuts, some farmer groups and
opposition voices have raised concerns about potential imbalances in market
access for U.S. agri-cultural imports. The government maintains it has shielded
sensitive sectors while pursuing export oriented gains.
Overall, the trade accord is seen as a
significant reset in economic relations between New Delhi and Washington, with
the coffee sector among those set to benefit from improved access to the
lucrative U.S. market.
Container ship sinks off Phuket
The Royal Thai Navy coordinating a recovery
and environmental response operation following the sinking of the Panama
flagged cargo vessel SEALLOYD ARC off the coast of Phuket, after the incident
in an oil spill and the loss of more than 200 containers at sea.
According to a report by The Nation, the
vessel capsized on February 07, while sailing from Malaysia to Bangladesh,
going down in waters west of Ko Kaeo Yai near Promthep Cape. The sinking led to
containers drifting across a wide area and an oil leak that has raised concerns
over potential impacts on the surrounding marine and coastal environment.
Hapag Lloyd reports preliminary business
figures for 2025
///// AIR CARGO NEWS /////
Cargo Giant Emirates SkyCargo Deepens
Investment in Indian Market
Emirates SkyCargo is stepping up its
commitment to India, citing strong growth in exports and rising demand for
reliable air freight capacity. The cargo arm of Emirates Airline is expanding
capacity, enhancing connectivity, and rolling out specialised logistics
solutions to support Indian manufacturers and exporters.
India remains one of Emirates SkyCargo’s most
important markets, with high volumes of pharmaceuticals, perishables,
electronics, textiles, and e-commerce shipments moving through its network. The
carrier currently serves multiple Indian gateways with a mix of dedicated
freighters and belly-hold capacity on passenger flights, linking the country to
key markets in Europe, the Americas, Africa, and the Middle East.
The expanded focus includes closer
collaboration with Indian Freight Forwarders, improved cold chain and pharma
handling capabilities and better access to Emirates Skycargo’s global hub in
Dubai. The move aligns with India’s growing role as a global manufacturing and
export hub and reflects the airline’s long-term confidence in the country’s
trade growth. Emirates said it will continue to adapt capacity and products in
line with customer needs, reinforcing its position as a key logistics partner
for Indian businesses.
Saudia
Cargo moves 573,000 tonnes of cargo in 2025
Saudia Cargo transported more than 573,000
tonnes of cargo in 2025, reporting strong operational performance and expanding
its global network, the company announced on 11 February 2026 in the Kingdom of
Saudi Arabia. During the year, the Middle East carrier operated around 4,000
flights and moved a total cargo volume of 573,000 tonnes.
It reported 15,000 tonnes in total exports,
achieved a Net Promoter Score of 57, and maintained on-time performance above
90 per cent. The company said these results reflect its focus on handling
high-value and sensitive products with efficiency and reliability. Saudia Cargo
also strengthened its presence through several strategic partnerships.
In Saudi Arabia, it signed agreements with
the Saudi Tourism Authority and the Al-Ahsa Development Authority to support
national development. Internationally, it partnered with China Cargo Airlines
and China’s Henan Group to improve connectivity between Asia and Europe through
Zhengzhou and Riyadh.
To expand its operational capabilities, the
company signed a strategic agreement with ASL Aviation to lease two Airbus
A330-300F freighter aircraft. The aircraft are scheduled for delivery and
operation in 2026 to support logistics connectivity, increase cargo capacity
and provide solutions for customers worldwide.
The carrier also launched permanent cargo
services to Zhengzhou in China and Milan in Italy, strengthening its network.
In June 2025, Saudia Cargo announced the launch of a new entity, Saudia Cargo
Global, in partnership with TAM Group.
The new company is headquartered in Hong Kong
and aims to enhance the carrier’s presence in the Asian market. Throughout
2025, Saudia Cargo said its focus on operational excellence, digital innovation
and sustainability was recognised with several awards. These included honours
for Operational Excellence, Digital Transformation and Corporate Social
Responsibility.
The company was also named Best E-Commerce
Carrier in the Middle East for 2025. The carrier further enhanced its quality
standards by obtaining IATA CEIV Fresh certification for handling perishable
goods. It also secured four new ISO certifications, bringing its total number
of international certifications to six.
The company said its participation in
international logistics exhibitions and national initiatives supporting Saudi
Vision 2030 helped strengthen partnerships and explore growth opportunities in
global markets. Saudia Cargo is headquartered in the Kingdom of Saudi Arabia
and serves around 100 airport destinations and 250 customer destinations across
four continents.
It is a member of SkyTeam Cargo, connecting
to 150 freighter destinations and nearly 800 passenger destinations worldwide,
and operates a modern fleet of Boeing freighter aircraft transporting
e-commerce, pharmaceuticals, high-value shipments, hazardous materials and
perishables.
Natilus
raises $28 million to advance blended-wing aircraft
San Diego-based aerospace innovator Natilus
has raised $28 million in Series A funding, led by Draper Associates with
participation from Flexport, Type One Ventures, New Vista Capital, The Veteran
Fund, and Wave Function.
The funding marks a pivotal milestone in the
company’s mission to commercialise a family of hyper-efficient blended-wing
aircraft. The fresh capital will enable Natilus to complete manufacturing of
its first full-scale KONA regional cargo plane and advance the programme toward
initial flight operations.
Transitioning from the original single-deck
design to a dual-deck configuration with passengers on the upper deck and cargo
below. HORIZON EVO integrates feedback from the Federal Aviation Administration
(FAA) and global airline partners. The redesign enhances passenger safety and
experience, introduces windows throughout the cabin, and maintains
compatibility with existing airport infrastructure while preserving the
efficiency advantages of the blended-wing-body airframe.
In the last 12 months, Natilus has made
significant progress on its intellectual property portfolio and national
manufacturing efforts. In March last year, it initiated the launch of its first
domestic manufacturing site search to produce KONA and in July, it was awarded
a patent for KONA's diamond-shaped cargo bay.
Natilus’s commercial order book currently
exceeds 570 aircraft, with commitments from leading operators including
SpiceJet, Nolinor Aviation, Flexport, and Ameriflight. The total value of these
reservations stands at approximately $24 billion. HORIZON EVO evolves from a
single-deck to a dual-deck aircraft offering enhanced passenger space and
safety with seamless ground interoperability.
In addition to strong demand from domestic and global carriers, Natilus's optionally-piloted KONA is gaining interest for its potential defence applications. With its 3.8-tonne payload capacity and ability to land on shorter, gravel runways, KONA can provide intra-theatre lift and transport cargo to remote locations more efficiently than ever before.
The cargo freighter can support Agile Combat
Employment (ACE) and logistics resupply in highly contested and austere regions
such as the Indo-Pacific. Natilus has engaged in conversations with the US
Army, US Air Force, and the Department of Defense, which see value in KONA.
"The aviation market is ripe for a new
aircraft manufacturing entrant," said Tim Draper, Founding Partner of
Draper Associates. "Natilus's innovative and technology-driven approach to
developing blended wing aircraft has opened the doors for air freight and
passenger airlines alike to embrace these new planes."
Natilus has de-risked the technology and
expedited widespread commercial adoption by designing its planes to use
existing engine technology and include vertical tails for control and
stabilisation.
It has designed its family of aircraft to be
compatible with existing gate operations and airport infrastructure to maintain
interoperability. With a clear path to certification and commercialisation,
Natilus is targeting delivery of the KONA freighter later this decade, followed
by HORIZON EVO in the early 2030s.
Together, these aircraft aim to redefine
efficiency in air cargo, defence logistics, and passenger travel, positioning
Natilus as a disruptive force in the aviation industry. Cross-section shows
design modifications to accommodate standard cargo containers without hampering
space for passenger seating Meanwhile, Natilus is actively pursuing FAA Part
23, Amendment 64 certification for KONA and is determining a location for its
250,000 square feet manufacturing site to build 60 KONA per year.
The company is on track to deliver the first
KONA later this decade and the first HORIZON EVO in the early 2030s. Recently
Natilus also appointed Kory Mathews, a former Boeing executive, to its Board of
Directors. At Boeing, Mathews served as vice president of Phantom Works and as
vice president and chief engineer of Boeing Military Aircraft, where he led
advanced aircraft design initiatives and rapid prototyping programmes.
He now brings this expertise, along with his
current role as Senior Partner at New Vista Capital, to provide Natilus with
valuable OEM and defence industry perspectives. "We're not just building
aircraft. We are reshaping the future of aviation beyond the limitations of the
tube-and-wing airframe to fundamentally transform how we transport goods and
people," said Aleksey Matyushev, Co-Founder and CEO of Natilus.
"With this latest funding and newest
personnel additions, we are strongly positioned to bring our family of
blended-wing aircraft to market, disrupting the Boeing-Airbus duopoly and
bringing much-needed innovation to the aviation industry. Last year, global
logistics giant Kuehne+Nagel announced a partnership to study the
environmental, economic, and operational impact of integrating Natilus’s
hyper-efficient blended-wing-body aircraft into commercial air logistics
operations.
In parallel, Canada’s largest commercial
charter airline, Nolinor Aviation, revealed its purchase of multiple production
slots for Natilus’s regional freight aircraft, KONA.
SpiceJet will be Natilus’s first HORIZON customer in India. In December 2025, Natilus entered the Indian market through a partnership with SpiceJet. Natilus India, a subsidiary headquartered in Mumbai, announced its first commercial agreement with SpiceJet, which plans to purchase 100 of Natilus’s flagship passenger aircraft, Horizon.
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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