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 February
19, 2025
Today’s
Exchange Rates
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PRICE |
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90.67 |
0.020004 |
0.022058 |
90.65 |
90.69 |
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1.1835 |
-0.002 |
-0.168703 |
1.1855 |
1.1855 |
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123.095 |
-0.147499 |
-0.119682 |
122.9036 |
123.2425 |
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107.3502 |
-0.074501 |
-0.069352 |
107.3991 |
107.4247 |
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153.784 |
0.473999 |
0.309177 |
153.31 |
153.31 |
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1.3571 |
0.0003 |
0.022115 |
1.3568 |
1.3568 |
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97.258 |
0.103004 |
0.106021 |
97.135 |
97.155 |
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0.5901 |
-0.0021 |
-0.354608 |
0.592 |
0.5922 |
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/// Sea Cargo News ///
Kamarajar Port Receives In-Principle Nod
for IPO; Listing Process to Take About a Year
The Ministry of Ports, Shipping and Waterways has
granted “in-principle” approval for the proposed listing of state-run Kamarajar
Port Ltd through an Initial Public Offering (IPO), marking a significant step
toward unlocking value in one of India’s key maritime assets.
The approval, conveyed last week to Kamarajar Port Ltd,
sets the stage for India’s only major port structured as a company to enter the
capital markets. Kamarajar Port is a wholly owned subsidiary of Chennai Port
Authority. Process to Take 12–15 Months Vijay Kumar, Secretary, Ministry of
Ports, Shipping and Waterways, confirmed that the listing process has commenced
and is expected to take about a year.
“The IPO plan is at a very nascent stage; typically, the
process takes as much as 15 months,” a government official said.
Expanding the Listed Port Universe : Currently India has only three listed port
companies. They are : Adani Ports &
Special Economic Zone (APSEZ), JSW Infrastructure Ltd and Gujarat Pipavav Port
Ltd.
If the IPO proceeds as planned, Kamarajar Port will
become the first government owned major port to be listed, potentially
broadening investor participation in India’s port and maritime infrastructure
sector.
CMA CGM Launches INDAMEX at PSA Halifax, Expanding Trade Links
CMA CGM has officially launched its INDAMEX service at PSA Halifax, marking a significant step in strengthening trade connectivity between North America and key international markets. The new INDAMEX service enhances PSA Halifax’s global network by providing direct links to strategic ports across the Indian Subcontinent, Middle East, and Mediterranean regions.
The addition is expected to offer shippers improved
transit times, greater schedule reliability, and expanded market access. PSA
Halifax stated that the service reinforces the port’s role as a critical
gateway for transatlantic and intercontinental trade. With its deep-water
berths and advanced terminal infrastructure, the facility is well-positioned to
handle large container vessels operating on long-haul routes.
CMA
CGM’s INDAMEX call is anticipated to boost cargo volumes through Halifax,
supporting regional exporters and importers with diversified routing options
and enhanced supply chain resilience.
Industry
stakeholders view the launch as a positive development for Canada’s Atlantic
trade corridor, further integrating Halifax into global shipping networks while fostering
stronger economic ties with fast growing markets abroad.
CMA CGM Adjusts Pricing on India–Latin
America Trade Lane
CMA CGM has announced revised freight-all-kinds (FAK) rates for shipments moving from the Indian Subcontinent to key destinations across Latin America, reflecting ongoing market adjustments in global container trade. The updated pricing applies to cargo originating from major ports in India, Pakistan, Sri Lanka and Bangladesh, with coverage extending to ports in Central and South America as well as the Caribbean.
The new rates are set to take effect from the specified
implementation date and will apply to dry containers, with reefer tariffs
remaining subject to separate conditions. Industry observers note that carriers
continue to recalibrate pricing strategies amid fluctuating demand, vessel
capacity adjustments, and shifting trade dynamics across long-haul routes. The
India–Latin America corridor has seen evolving cargo flows in recent months,
driven by diversified sourcing patterns and growing bilateral trade.
CMA CGM stated that the revised FAK structure aims to
align pricing with prevailing market conditions while maintaining service
reliability and network efficiency. The carrier operates multiple services
connecting the Indian Subconti-nent with Latin American markets, offering
trans-shipment options via strategic hub ports.
The rate adjustment underscores the broader trend of
carriers fine tuning freight tariffs as global shipping markets navigate
volatility and changing supply-demand fundamentals.
Indian Coast Guard Seizes Three Sanctioned
Tankers in Major Crackdown on ‘Dark Fleet’
In a significant move signalling a tougher stance
against illicit maritime trade, the Indian Coast Guard has seized three tankers
allegedly involved in international oil smuggling operations off the coast of
Mumbai. The vessels were intercepted on Friday in waters near Mumbai.
In a post on X, the Coast Guard said it had “busted an
international oil-smuggling racket” and noted that the ships had a history of
“frequently changing identity,” a common tactic associated with the so-called
shadow or dark fleet. According to shipping industry sources, this marks the
first time New Delhi has taken such direct enforcement action against tankers
linked to the shadow fleet — a network of approximately 1,500 vessels globally
that transport sanctioned oil from countries such as Iran, Russia, and
Venezuela.
The seizures also coincide with mounting pressure from Washington on New Delhi to curb imports of Russian crude as part of broader trade negotiations aimed at reducing tariffs. India had earlier stated that it would not allow sanctioned tankers to discharge cargo at its ports.
Investigation underway :
A Coast Guard spokesperson confirmed on Monday that the three vessels
are being escorted to Mumbai for further investigation.
Attempts to contact the registered owns and managers of
the ships, as listed on Equasis, were unsuccessful. Emails seeking comment went
unanswered, and phone calls were either not answered or directed to voicemail.
The development places India among the countries taking visible
enforcement action against the shadow fleet, reinforcing maritime compliance
and signalling greater vigilance in regional waters.
Nayara Energy’s Russian Oil Strategy in
Jeopardy as India Moves to Meet US Trade Deal Goals
India’s Russia-linked refining giant Nayara Energy is facing a strategic inflection point as New Delhi adjusts its crude import patterns under an interim trade agreement with the United States, raising questions about the viability of Nayara’s heavy reliance on Russian oil.
The U.S.–India trade deal, which saw Washington rescind
punitive tariffs on Indian goods in return for New Delhi’s commitment to scale
back Russian oil imports, marks a watershed moment in India’s energy diplomacy.
As part of the deal, President Donald Trump signed an
executive order removing a previously imposed 25 % tariff, contingent on
India’s move away from Russian crude. India’s imports of Russian oil—once
exceeding 2 million barrels per day—have already begun to fall sharply.
However, Nayara Energy, which remains one of the last
major Indian refiners sourcing substantial Russian barrels, now finds it’s
strategy under pressure. Fresh refinery-level data show state owned and private
competitors sharply reducing spot purchases from Russia, while Nayara’s
operations remain heavily geared toward Urals and other Russian grades.
Analysts note that most Indian refiners have begun rejecting offers of Russian crude for deliveries later in 2026 as part of efforts to align with trade deal expect-ations and diversify supply toward the Middle East, Africa and South America. In contrast, Nayara has historically depended on Russian barrels to sustain high utilisation rates at its Vadinar refinery in Gujarat.
Chittagong Launches Smart Port Single
Window Platform
Chittagong Port has officially launched a Smart Port
Single Window Platform, marking a major step toward paperless trade
facilitation and digital port management. The newly introduced system
integrates multiple stakeholders — including shipping lines, customs
authorities, freight forwarders, terminal operators, and regulatory agencies —
onto a unified digital interface.
The platform enables electronic submission, processing,
and approval of documents, significantly reducing paperwork, manual
intervention, and processing times. Port officials said the initiative is
designed to streamline cargo clearance procedures, enhance transparency, and
improve overall operational efficiency. By digitising documentation and
workflow processes, the port aims to minimise delays, lower transaction costs,
and strengthen supply chain reliability.
The Smart Port Single Window aligns with Bangladesh’s
broader digital trans-formation agenda and supports international best
practices in trade facilitation. It is expected to improve Chittagong’s
competitiveness as the country’s primary gateway, handling the majority of its
containerised trade.
Authorities added that the systems will be rolled out in
phases, with continuous upgrades planned to incorporate automation, data
analytics and real time cargo tracking capabilities, further reinforcing
Chittagong’s ambition to evolve into a fully smart and sustainable port.
Medium-Sized Carriers Losing Ground in
Global Capacity Race
Medium-sized shipping lines are increasingly falling
behind in the global capacity race, as larger carriers continue to expand their
fleets and consolidate market dominance. Industry data shows that the world’s
largest container lines have accelerated vessel deliveries and newbuilding
orders over the past two years, significantly increasing their market share.
In contrast, mid-tier carriers have struggled to match
this pace, constrained by limited financial flexibility, higher capital costs
and reduced access to shipyard slots. The widening gap is largely attributed to
economies of scale. Mega-carriers are leveraging stronger balance sheets to
place large newbuilding orders, secure long-term charter agreements and invest
in next-generation, fuel-efficient vessels. Their scale also allows them to
negotiate more competitive contracts for fuel, terminals and inland logistics,
further strengthening their cost advantage.
For now, the trajectory is clear: in the rate for scale and efficiency, the largest carriers are pulling further ahead, leaving medium-sized players under mounting competitive pressure.
HMM maintains
solid profitability in 2025 despite market weakness
FedEx and DHL
Partnership to Shift Freighter Services to Navi Mumbai
Global logistics giants FedEx and DHL are preparing to move dedicated cargo flight operations to Navi Mumbai International Airport (NMIA) as Mumbai’s main airport gears up for major infrastructure upgrades that will impact freighter services.
Under the planned arrangement, a joint
venture between FedEx and DHL–Lufthansa’s cargo operations — along with several
other international carriers — will begin flying cargo from NMIA as early as
May 2026.
This transition comes months before the
scheduled temporary suspension of freighter operations at Chhatrapati Shivaji
Maharaj International Airport (CSMIA) due to runway, taxiway and apron
reconstruction work later in the year. The shift aims to ensure continuity in
air freight services for exporters and importers who rely on the Mumbai
region’s cargo connectivity.
Challenge Group
Expands Fleet with Purchase of Three Jet Airways 777 Jets
European air cargo operator Challenge Group
is expanding its long‑haul freighter fleet after completing the purchase of
three Boeing 777 aircraft formerly owned by India’s now‑defunct Jet Airways, in
a deal valued at $46 million (approximately ₹417 crore).
The wide‑body aircraft — which had been
grounded in Mumbai since Jet Airways suspended operations in April 2019 — are
set to be integrated into Challenge Group’s cargo network following prolonged
legal and insolvency proceedings in India.
The sale, executed as part of Jet Airways’
ongoing liquidation process, includes three aircraft frames and six engines and
marks a key milestone in the airline’s asset recovery efforts. The acquisition
will help bolster Challenge Group’s capacity as demand for global air freight
continues to grow, especially on intercontinental routes where Boeing 777
freighters are prized for their range and payload capabilities.
The three Boeing 777 wide-body jets are
expected to be refurbished and deployed across the group’s expanding cargo
services.
Jet Airways, once one of India’s largest
carriers with over 120 aircraft at its peak, has been undergoing a drawn-out
liquidation process after attempts to revive the airline stalled. The Supreme
Court of India ordered the liquidation in late 2024, paving the way for the
aircraft sale earlier this year.
For Challenge Group – which already operates
a mixed fleet of Boeing 77=47 and 767 freighters and is known for strategic
fleet growth in Europe and beyond – this purchase strengthens its position in
the competitive cargo market and underscores growing activity in the secondary
aircraft market.
B&H
Worldwide delivers Airbus A330 cockpit to New Zealand for training
B&H Worldwide has completed the transport
of a decommissioned Airbus A330 cockpit from the United Kingdom to New Zealand,
marking a cross-border aerospace logistics operation carried out with
Christchurch-based Pacific Simulators (PacSim).
The cockpit will be repurposed into an A330
flight training device to support simulator development for airline training
programmes. The project required an end-to-end logistics plan tailored to
PacSim’s requirements.
B&H Worldwide arranged sea freight for
the movement, managing handling, packing, tracking, customs clearance and final
delivery. The company said the transport demonstrated its ability to manage
complex aerospace cargo beyond aircraft on ground operations. "This
specialist project demonstrates our team's versatility and deep understanding
of aerospace logistics," said Lee Hedges, Branch Manager at B&H
Worldwide in New Zealand.
"While we are renowned for our
time-critical AOG services, this successful delivery proves our capability to
handle projects of any scale and scope, providing our customers with full
transparency and confidence throughout the entire supply chain. Our teams in
the UK and New Zealand worked seamlessly to ensure a precise and secure
delivery for PacSim."
The operation began in West Sussex, where
B&H Worldwide collected the cockpit before preparing it for shipment at its
Heathrow facility. The cargo was packed into a 20-foot sea freight container
and moved via ocean freight from Southampton. Tracking systems monitored the
shipment throughout transit to maintain visibility across the supply chain.
On arrival in Christchurch, the company’s New
Zealand team oversaw customs clearance and coordinated delivery to an ATF
facility. The devanning process complied with Ministry for Primary Industries
bio-security requirements, ensuring the cargo met import regulations before
final handover to PacSim. Pacific Simulators said the cockpit will be
integrated into its portfolio of EASA, FAA and ICAO compliant flight training
devices. The company develops fixed-based training systems using aircraft
components to support pilot training centres across global markets.
“The B&H Worldwide team provided an
exceptional service, managing every detail of this complex international move
with professionalism and expertise,” said Nathan Moulds, Chief Commercial
Officer of Pacific Simulators. “Their meticulous planning and execution gave us
complete peace of mind, knowing that this valuable asset was in safe hands.
Thanks to their logistics support, we can now begin transforming this A330
cockpit into a training device that will help shape the future of commercial
aviation.”
B&H Worldwide said it continues to support manufacturers, MRO providers and operators through logistics programmes designed for aerospace cargo flows. The company added that the PacSim project reflects growing demand for transport solutions linked to simulator production and aircraft component reuse.
Manoj
Singh takes charge as CEO of MSN Air Service
Manoj Singh has assumed the role of Chief Executive Officer at MSN Air Service, USA. Based at New York’s JFK International Airport, he will lead the company’s strategic and operational direction. As CEO, Singh will provide strategic leadership across MSN Air Service’s end-to-end Ground Handling Agency services.
These include passenger services, cargo
operations, ramp handling, aviation security and cargo terminal management. He
will shape the company’s corporate vision, strengthen governance, safety and
compliance frameworks, and drive operational excellence across all business
verticals.
A key focus of his role is international
expansion. This includes developing new cargo infrastructure and entering
emerging markets to support evolving trade lanes, e-commerce growth and
regional logistics demand. He will also work on building scalable and
commercially sustainable partnerships with airports, airlines and global
stakeholders, in line with forward-looking airport and aviation strategies.
At a time when global aviation and cargo
markets are undergoing rapid transformation, Singh’s leadership is expected to
support MSN Air Service’s long-term growth, resilience and value creation
across its operations. Singh brings over 33 years of leadership experience in
aviation and logistics. His experience spans cargo airline, airport operations,
ground handling and integrated supply chain ecosystems.
In his previous role as Chief Cargo Officer
at Adani Airports, he had full profit and loss responsibility for cargo
operations across eight airports. He launched multiple greenfield cargo
businesses from inception to product management and logistics subsidiary, and
conceptualised India’s first airport-linked logistics ecosystem.
Earlier, he served as Senior Vice President
and Head of Cargo at Mumbai International Airport, where he led India’s busiest
cargo gateway and delivered digital and pharma cargo initiatives along with
operational excellence. He was also Chief Executive Officer at Menzies
Aviation, Bengaluru, General Manager of Cargo at Hyderabad Menzies Aviation,
and Commercial Head of India at Menzies Aviation.
In these roles, he helped build two
greenfield airport cargo operations and ground handling businesses, and
pioneered India’s first airport cargo pharma zone. He has also worked with the
Airports Authority of India and Lufthansa Cargo.
FedEx
to build 300,000 sq ft air cargo hub at Navi Mumbai Airport
FedEx has broken ground on its first
dedicated integrated cargo terminal in India, committing more than ₹25 billion
to build a 300,000 sq ft fully automated air cargo hub at Navi Mumbai
International Airport (NMIA). The facility will serve as a regional hub linking
India with Southeast Asia, West Asia, Europe and the United States.
The investment marks one of FedEx’s largest
infrastructure commitments in India. Once operational, the hub is expected to
create more than 6,000 direct and indirect jobs across logistics, warehousing,
transport and related services. Speaking at the ceremony, Jeet Adani, Director
of Adani Airport Holdings, said the development goes beyond infrastructure.
“We are here to break ground on FedEx’s first
dedicated integrated cargo terminal in India. Let that sink in for a moment,”
he said. He added that one of the world’s largest logistics companies had
chosen Navi Mumbai for its first such facility in the country. “This is not
just an investment, it is a statement of confidence in India’s economic
trajectory, in Maharashtra’s infrastructure vision and in what this airport
represents.”
Raj Subramaniam, President and Chief
Executive Officer of FedEx, said the investment reflects the company’s
long-term view of India. “Investment of over $250 million, demonstrating our
confidence in India’s growth trajectory and our commitment to building the
capabilities to support it,” he said.
He noted that global supply chains have
changed significantly in recent years and described the shift as longterm. “We
do not see this as a temporary trend, but a long-term shift as the world
re-globalises.” Subramaniam added that FedEx operates in nearly 220 countries
and territories, placing it at the centre of global trade flows.
This global network, built over more than 50
years, gives the company deep insight into market dynamics, he said. Kami
Viswanathan, President, FedEx Middle East, Indian Subcontinent and Africa
(MEISA), said the new hub strengthens India’s position in global trade.
“India’s competitiveness in global trade will
increasingly depend on the reliability and speed of its logistics
infrastructure. Establishing this hub at NMIA allows us to integrate global
network strength with India’s fastest-growing trade corridor, providing greater
certainty, speed and efficiency to customers.”
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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