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 February
25, 2025
Today’s Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
90.955 |
0.065002 |
0.071518 |
90.92 |
90.89 |
90.92- 90.9775 |
|
|
1.1789 |
0.0004 |
0.033937 |
1.1785 |
1.1785 |
1.1768- 1.1796 |
|
|
122.73 |
-0.038597 |
-0.031439 |
122.6815 |
122.7686 |
122.5176- 122.7369 |
|
|
107.2159 |
-0.0345 |
-0.032168 |
107.1003 |
107.2504 |
107.0493- 107.2356 |
|
|
155.793 |
1.143005 |
0.739092 |
154.65 |
154.65 |
154.527- 156.281 |
|
|
1.3497 |
0.0005 |
0.037056 |
1.3492 |
1.3492 |
1.347- 1.3501 |
|
|
97.86 |
0.153999 |
0.157615 |
97.702 |
97.706 |
97.695- 97.957 |
|
|
0.5834 |
-0.0045 |
-0.765432 |
0.5877 |
0.5879 |
0.582- 0.5881 |
/// Sea Cargo News ///
India Lifts Wheat
Export Ban After Four Years, Trade Through Hili Port Set to Resume
After nearly four years, India has officially lifted its ban on wheat exports, reopening trade channels for international buyers and raising expectations of renewed activity at key land ports such as Hili.
The Government of India issued a notification
on 14 February formalising the removal of the restriction, which had originally
been imposed on 13 May 2022 to curb rising domestic wheat prices and safeguard
food security.
Confirming the development, Dinesh Poddar, a
prominent importer at the Hili land port, said the export ban was officially
withdrawn on 13 February. However, he noted that immediate imports may not
begin right away due to current price dynamics. “Wheat imported from Ukraine
and Russia is presently available at lower prices, while domestic prices in
India remain comparatively higher. Therefore, imports from India may not resume
immediately,” he said.
According to Poddar, the situation is likely
to change with the arrival of the new harvest. As fresh stocks enter the Indian
market in the coming weeks, prices are expected to ease, potentially making
Indian wheat more competitive. “Once new crop supplies reach the market, prices
should stabilise. That will create an opportunity to import wheat at more
affordable rates and distribute it domestically at reasonable prices,” he
added.
The decision is expected to significantly
influence regional trade flows, particularly across South Asia, where Indian
wheat is widely preferred for its consistent quality and reliable supply.
Analysts believe the move could provide a timely supply boost to neighbouring
countries that rely heavily on wheat imports to meet domestic demand.
The lifting of the ban also reflects a
calibrated shift in India’s trade policy-balancing domestic market stability
with the benefits of participating in global commerce. With regulatory barriers
removed, importers and traders are now preparing to capitalise on the
anticipated availability of competitively priced Indian wheat.
For Hili port and other major entry points,
the development presents both opportunity and operational challenges.
Authorities and stakeholders may need to strengthen logistics coordination,
storage infrastructure and handling capacity to manage the expected increase in
grain inflows once trade resumes in full swing.
Israel
Orders Review of $3.7 Billion ZIM Sale to Hapag-Lloyd and FIMI
Israel’s Transport Minister Miri Regev has
ordered an immediate review of the $3.7 billion sale of ZIM Integrated Shipping
Services Ltd., following reports that key government officials were caught off
guard by the structure of the deal.
The transaction, finalised overnight between
Saturday and Sunday, involves the division of ZIM’s operations between
Germany-based Hapag-Lloyd and Israel’s private equity firm FIMI Opportunity
Funds.
Under the agreement, ZIM’s shipping lines
operating to and from Israel will be sold to FIMI, while its international
routes will be acquired by Hapag-Lloyd, the world’s fifth-largest container
shipping carrier. The review reflects heightened sensitivity in Jerusalem over
ZIM’s strategic importance, particularly amid scrutiny of Hapag-Lloyd’s
ownership structure.
Approximately 35% of the German carrier is
held by sovereign wealth funds – the Qatar Investment Authority and Public
Investment Fund – a factory that has drawn political and security attention in
Israel.
According to sources cited by Israel Hayom,
both the Administration of Shipping and Ports and the Transport Ministry were
surprised by the scope and structure of the transaction. Regev has instructed
Transport Ministry Director General Moshe Ben-Zaken to examine the implications
of the sale and determine whether the government can intervene by invoking its
“golden share”, which grants the state veto power over certain strategic
decisions.
However, officials familiar with the deal
indicated that Hapag Lloyd anticipated the possibility of Israeli intervention
and structured the acquisition in a way that splits ZIM’s domestic and
international operations, potentially complicating any attempt by the state to
block the transaction.
Beyond Israel, the deal may also attract
scrutiny from European regulators. As one of the largest global container
carriers, Hapag Lloyd’s acquisition of nearly 100 ZIM shipping lines could
trigger a review by the European Commission’s competition authorities over
potential anti-trust concerns within the European Union.
The
Transport Ministry’s review is expected to assess both national security
implications and the legal feasibility of exercising the state’s special
shareholder rights in response to the landmark transaction.
Myanmar Service
Networks Updated by Major Carriers
Shipping lines serving Myanmar trade routes
have announced a series of adjustments to their service coverage and vessel
deployments, reshaping how carriers operate in and around the country.
The changes come as carriers respond to
evolving market conditions, demand patterns and regional connectivity
opportunities. According to industry data, several container operators have
introduced new port rotations, altered vessel assignments and adjusted service
patterns across Southeast Asia, affecting existing Myanmar-related sailings.
These updates are designed to enhance operational efficiency, improve schedule reliability and better align network capacity with current trade flows.
The revised coverage is expected to impact
import and export services to and from Myanmar’s key ports, such as Yangon, by
offering updated routing options and connections through regional hubs.
While detailed carrier-specific rotation
changes have not been widely disclosed publicly, the overall move reflects
broader strategic shifts within the container shipping sector as carriers
optimize their networks to support growth and adapt to market dynamics.
NGT Clears
₹90,000-Crore Great Nicobar Mega Infrastructure Project
The National Green Tribunal (NGT) on Monday cleared the Centre’s ₹90,000-crore-plus Great Nicobar mega infrastructure project, ruling that the 2022 environmental clearance (EC) granted by the Union environment ministry incorporated “adequate safeguards” and that there was no “good ground to interfere.”
A bench of the National Green Tribunal disposed of a batch of petitions challenging the project, underscoring its “strategic importance” and observing that the concerns raised by petitioners had been examined by a high-powered committee constituted in 2023 to review the environmental clearance.
“We find adequate safeguards in the EC
conditions. The remaining issues flagged earlier have been addressed by the
High-Powered Committee. Given the project’s strategic importance, we see no
ground to interfere,” the tribunal said while directing “full and strict
compliance the EC conditions” by the relevant authorities.
CMA CGM, Cosco and RCL
Revamp Myanmar Services, Rationalise Southeast Asia Feeder Capacity
Major container carriers are restructuring
their Myanmar service networks by merging loops and reducing sailing
frequencies as part of efforts to optimise capacity across Southeast Asia’s
feeder trades.
According to maritime analytics firm
DynaLiners, the changes involve consolidation of existing services and revised
port rotations linking Singapore, Malaysia, Indonesia and Myanmar.
CMA CGM, through its CNC Line, has merged its
IDLW, YCX and YSX services—previously operated in cooperation with Cosco
Shipping Lines and Regional Container Lines—into a newly branded BY8 service.
The BY8 loop will operate on the rotation:
Singapore – Yangon – Singapore – Port Kelang – Belawan – Singapore, maintaining
connectivity between key transshipment hubs and Myanmar while streamlining
vessel deployment.
Following their withdrawal from the YSX
service, Cosco Shipping Lines and Regional Container Lines have also revised
their joint SYM/RSY service by dropping the Port Kelang-Yangon leg. The service
will now run as a Singapore-Yangon-Singapore shuttle with two 1,200 TEU vessels
at a reduced frequency of one sailing every 10 days.
Separately, Cosco Shipping Lines will
continue to provide Port Kelang-Yangon coverage through a revamped standalone
SYM3 service. The weekly loop, operated with two 1,000 TEU vessels, follows the
rotation: Singapore – Port Kelang-Yangon-Belawan-Singapore.
The adjustments reflect broader efforts
carriers to recalibrate capacity in response to fluctuating regional demand,
with potential implications for cargo routed via Southeast Asian hubs serving
the India-Myanmar trade carrier.
Three Iran-Linked
U.S.-Sanctioned Tankers Detained Off Mumbai, India Tightens Sea Patrols
India has seized three oil tanker vessels linked to Iran that were under U.S. sanctions this month and significantly boosted surveillance in its maritime zones, authorities said, in a move aimed at curbing illicit oil trade in its waters.
The tankers — identified as Stellar Ruby,
Asphalt Star and Al Jafzia — were intercepted roughly 100 nautical miles west
of Mumbai after Indian enforcement agencies detected suspicious ship-to-ship
transfer activity within the country’s Exclusive Economic Zone (EEZ).
Officials said the tankers had frequently
changed identities and operational details to evade detection.
The move comes amid closer diplomatic and
trade ties between India and the United States, following Washington’s recent
decision to reduce import tariffs on Indian goods as part of efforts to
strengthen cooperation and urge New Delhi to curb purchases of Russian oil.
ACAAI Western
Region Flags Concerns Over Proposed Freighter Suspension at Mumbai Airport
The Western Region of the The Air Cargo
Agents Association of India (ACAAI) convened its regional meeting on 3 February
2026 at Suba International Hotel, Mumbai. The meeting was chaired by Mr. Rajen
Bhatia, Hon. Chairman, along with Mr. Shailesh Sharma, Hon. Secretary, and Mr.
Farokh Hansotia, Hon. Treasurer.
The principal agenda centred on the proposed
suspension of dedicated cargo freighter operations at Chhatrapati Shivaji
Maharaj International Airport (CSMIA), following a circular issued on 11
December 2025 by Mumbai International Airport Limited (MIAL).
The circular outlines the construction of
Taxiway “E” and pavement works on Apron “G”, which are expected to result in a
suspension of freighter operations for up to 10 months. While welcoming and
fully supporting infrastructure development and safety enhancement measures,
ACAAI members expressed serious concern over the prolonged suspension and its
potential impact on exporters, importers, freight forwarders, airlines, custodians
and the broader air cargo ecosystem.
Freighter Flight
Halt at Mumbai Draws IATA’s Attention
The International Air Transport Association (IATA) has expressed concern over the suspension of freighter flight operations at Chhatrapati Shivaji Maharaj International Airport, warning that the move could disrupt cargo supply chains and increase logistics costs.
In a statement, IATA said dedicated freighter
services play a crucial role in ensuring the timely movement of high-value,
time-sensitive and perishable goods. The association cautioned that restricting
such operations at one of India’s busiest cargo gateways may divert traffic to
other airports, leading to congestion and operational inefficiencies.
Mumbai airport handles a significant share of
India’s international air cargo, including pharmaceuticals, engineering goods,
electronics and perishables. Industry stakeholders noted that the suspension
could impact exporters and freight forwarders who rely on the airport’s
connectivity and infrastructure.
IATA urged authorities to engage with
airlines and cargo operators to fine a balanced solution that safeguards both
operational requirements and
Infrastructure development needs. The body
stressed that predictable and stable operating conditions are essential to
maintaining India’s competitiveness in global trade.
Cargo industry representative echoed these
concerns, stating that sudden operational changes can affect supply chain
planning and contract commitments. They called for timely coordination among
airport operators, regulators and carriers to minimise disruption and ensure
continuity of services.
Frankfurt
back on top as cargo volumes grow at European hubs
European airports saw cargo volumes increase
last year, with Frankfurt reclaiming the top spot from Istanbul Airport. Figures from Airports Council International
(ACI) Europe show that overall cargo demand at European airports increased by
3.2% year on year in 2025.
Frankfurt returned to the top spot as its
cargo volumes increased by 2% to 1.99m tonnes. “Over the course of the year, a
steady upward trend in cargo volumes at Frankfurt Airport became apparent,” the
airport said.
“While the first half of the year was marked
by overall stagnation, the second half of 2025 saw a significant rejuvenation.
“E-commerce proved to be a key growth driver.
Routes from China to Europe also benefited from the abolition of the US “de
minimis” rule, which caused the focus of trade to shift heavily to European
markets.
“The result was clear growth in e-commerce
consignments to Germany.” Airport operator Fraport pointed out that unloaded
cargo volumes from China set a new record of around 290,000 tonnes, up 26.9 %.
There was also a record when both directions
are taken into account, with around 465,600 tonnes handled, up 21%.
The Frankfurt-Shanghai route had the highest
cargo volumes of any route at the airport last year, while the
Frankfurt-Chengdu and Frankfurt-Ezhou routes were also among the top three
routes with the highest absolute growth figures.
On the other hand, volumes between Frankfurt
and the US were down 3.7% year on year.
Frankfurt-Latin America increased by 3%, driven by increased imports from Mexico to Germany. Africa traffic increased by 8.5 %, while volumes with Europe and the Middle East reduced by 1.8 % and 5.1 % respectively.
Meanwhile, Istanbul Airport, which took the
top spot for the first time in 2024, registered a 0.6% decline to 1.97m tonnes.
Rounding out the top five were Paris CDG,
where volumes increased by 2.3% year on year to 1.92m tonnes, London Heathrow,
where volumes improved by 0.8% to 1.55m tonnes, and Schiphol, which registered
a decline of 4.2% to 1.43m tonnes.
According to the figures, the fastest-growing
European airports for cargo traffic amongst the top 10 were Liege at 13.9% to
1.3m tonnes and Madrid at 9.6% to 840,331 tonnes.
The top 10 cargo airport to register the
largest decline was Luxembourg, where volumes were down 0.9% year on year to
817,920 tonnes. There was also a decline of 0.5% to 1.27m tonnes at Leipzig.
The figures also highlight that cargo growth
in percentage terms at the major passenger aviation hubs has lagged behind the
overall market, with none of the top five players managing to grow faster than
the overall European market improvement of 3.2%.
Nairobi
flights disrupted as strike enters second day
Flights out of Nairobi in Kenya are being affected by strike action from aviation workers at Jomo Kenyatta International Airport (JKIA). The strikes are being carried out by the Kenya Aviation Workers Union (KAWU) over pay and conditions and began yesterday.
The Kenyan Airports Authority (KAA) said that
recovery efforts are underway. “Operations are progressively stabilising, with
normal schedules expected to resume as soon as possible,” KAA said on social
media.
It added that it was working closely with the
Kenya Civil Aviation Authority, airlines and other stakeholders to ensure
business continuity across all its airports. However, responses to the posts
suggest that flights were still facing disruption this morning.
Kenya Airways Cargo re-posted an update from
the airline suggesting that flights were being delayed by around four hours.
“We sincerely regret the inconvenience and
are working closely with the relevant aviation authorities and airport
stakeholders to minimise the impact on our customers and maintain our safe
operations,” Kenya Airways said.
The KAWU has accused the KCAA of failing to
negotiate and conclude a new collective bargaining agreement that expired in
2015; refusing to deduct union dues; using workers on temporary contracts for
the long term; issuing HR policy without union involvement and
downgrading jobs, amongst other complaints.
Kenya’s main airfreight exports are
perishable goods, which are particularly susceptible to any delays. The strike
comes shortly after the busy
Valentine’s Day period where flower volumes on services to Europe boom.
Global
GSA to market Alaska’s Rome-Seattle flights
Global GSA Group will market and develop
Alaska Airlines’ cargo business from Rome Fiumicino (FCO) in Italy to the
airline’s hub in Seattle–Tacoma International (SEA), US.
The companies have signed a General Sales
& Service Agent (GSSA) partnership ahead of the airline’s late April launch
of direct FCO-SEA flights. From late April onwards, daily Boeing 787-9 flights
will offer the Italian freight forwarding community connections via Seattle to
over 100 destinations across the US, Asia Pacific, South Pacific and Latin
America.
Global GSA Group will take on commercial
responsibility for the sale of cargo capacity on these flights.
The new service opens up opportunities for
the transport of key commodities such as aircraft spare parts, high fashion and
accessories, foodstuffs, pharmaceuticals or machine parts.
Cargo plays a significant role as a key
revenue diversifier in Alaska’s strategy. The airline aims to strengthen its
cargo business across transatlantic and transpacific markets and seeks to use
the partnership with Global GSA Group to help it do this, as well as position
Seattle as a key air gateway to North America and beyond.
“At Global GSA Group, we enjoy a very close
cooperation with our Italian forwarders and will ensure that we maximise the
benefit of this new cargo connection both for the community and Alaska
Airlines,” said Aytekin Saray, chief executive of Global GSA Group.
“Rome-Seattle is a particularly attractive
routing as it offers an additional, direct service into the Pacific Northwest
and beyond, for the great variety of high value, special goods that Italy
exports and Global GSA Group are experts in dealing with. We are proud to call
Alaska Airlines our newest partner and customer.”
Alaska Air Group completed the
acquisition of
Hawaiian Airlines in September 2024.
Ian Morgan, Alaska Airlines vice president of
cargo, said: “Alaska Airlines and Hawaiian Airlines are two carriers with
tremendous histories – more than nine decades apiece – placing them at the
forefront of commercial aviation.
“Now we’re creating a brand-new carrier with
that legacy of almost 200 years of history. We are building the foundation for
future growth, and our global expansion out of Seattle is leading the way.”
He added: “Our partnership with Global
GSA Group allows us to establish exciting new shipping connections between Rome
and Seattle – and up and down the West Coast, where we serve more destinations
than any other carrier.”
Morgan further stated: “With Global GSA
Group, we are uniquely positioned to be an important new partner for the
forwarding community.”
Air
Canada Cargo 2025 revenues up 4%
Air Canada Cargo has surpassed C$1bn in
revenue for 2025, helped by the success of the freighter network strategy
and a 28% increase in year-over-year digital bookings.
Total 2025 cargo revenues were C$1,033m, up
4% from C$991m in 2024.
“The increase was primarily attributable to
higher volumes in Latin America and the Pacific, influenced by shifts in
shipping activity resulting from adjustments to tariff deadlines and revisions
to US duty-free exemption rules for low-value goods,” said Air Canada.
“Domestic growth benefited from improved
year-over-year yields. These gains were partially offset by flight
cancellations caused by labour disruptions in August.”
The airline said it had six Boeing 767
freighters in service as of December 31, 2025, no change from the previous
year.
2025 cargo revenues by geographic region
Fourth quarter cargo revenues were C$291m,
down 1% year on year.
“The decline was primarily due to lower
volume in the Pacific and Transborder and yield in the Atlantic. The decline
was partially offset by stronger yields year over year in the Domestic market
and higher volumes in Latin America,” explained Air Canada.
Jon Turner, vice president, cargo at Air
Canada, said: “Air Canada Cargo’s performance in 2025 clearly demonstrates
the strength of our long‑term strategy and the unwavering commitment of our
teams.
“Surpassing $1bn in annual revenue is a
significant milestone, and underscores Air Canada Cargo’s position as a global
leader in airfreight.
“As we look ahead, we will continue investing
in innovation, operational excellence, and strategic partnerships to unlock
even greater opportunities for our customers and for global trade.”
Air Canada Cargo’s operations were impacted
by a strike in August last year that affected third quarter cargo revenues a
result of flight cancellations that impacted cargo volumes.
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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