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 March 03, 2025
Today’s
Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
|
|
91.47 |
0.489998 |
0.538578 |
91.25 |
90.98 |
|
|
|
1.1706 |
-0.0106 |
-0.89739 |
1.1783 |
1.1812 |
|
|
|
122.3233 |
-0.351295 |
-0.286364 |
122.806 |
122.6746 |
|
|
|
107.3316 |
0.018593 |
0.017326 |
107.6595 |
107.313 |
|
|
|
157.661 |
1.610992 |
1.032357 |
156.04 |
156.05 |
|
|
|
1.3405 |
-0.0077 |
-0.571129 |
1.3463 |
1.3482 |
|
|
|
98.269 |
0.660995 |
0.677194 |
97.874 |
97.608 |
|
|
|
0.5828 |
-0.0009 |
-0.154194 |
0.5826 |
0.5837 |
|
/// Sea Cargo News ///
Hapag
Lloyd introduces war risk surcharge for Gulf cargo
Hapag Lloyd will implement a War Risk
Surcharge (WRS) for cargo moving to and from the Upper Gulf, Arabian Gulf and
Persian Gulf, citing the ongoing security situation around the Strait of Hormuz
and resulting operational disruptions.
The Carrier said the dynamic conditions in
the region and necessary routing adjustments are affecting schedules and
equipment availability across its network. As a result, the surcharge for
reefer units and special equipment. The charge will be borne by the booking
party.
According to the company, the surcharge
applied to all bookings issued on or after March 02, 2026, that have not yet
shipped, as well as cargo already, on the water but not yet discharged or
loaded to or from ports in the Upper Gulf, Persian Gulf and Arabian Gulf. The
measure excludes cargo falling under FMC or SSE regulated scopes.
What
could derail the Hapag Lloyd – ZIM merger?
Regulatory hurdles and political oversight
dominate concerns
The potential merger between Hapag Lloyd and
ZIM Integrated Shipping Services has captured industry attention. While earlier
polls highlighted the strategic benefits of the acquisition, readers now signal
caution. The most pressing worries are regulatory scrutiny and Israel’s “golden
share” rights, which grant the state a veto over certain corporate decisions.
Labour strikes are less of a concern Despite the high profile nature of the deal,
workforce resistance is considered a smaller risk by readers. Only a minority
expect strikes or internal pushback to detail the transaction. This suggests
confidence that operational challenges can be managed without major
disruptions.
Smooth completion is possible, not guaranteed
Some respondents still see a path for the deal
to proceed without significant obstacles. However, the largest share of readers
believes that either regulatory approval or Israeli government could delay or
reshape the merger.
How this connects to previous sentiment This focus on execution risk complements a
prior Readers Speak poll examining the market impact of the Hapag Lloyd
acquisition. While many readers had anticipated strategic strengthening and
consolidation, the current results show that the feasibility of the merger is
equally critical. Market impact and practical hurdles now form a full picture
of the acquisition’s prospects.
IMO
Chief condemns Strait of Hormuz attacks on seafarers
The Secretary General of the International
Maritime Organization, Arsenio Dominguez, has expressed deep concern over
reported casualties following attacks on merchant vessels in the Strait of
Hormuz. Reports indicate at least one fatality and several seafarers injured.
“No attack on innocent seafarers or civilian
shipping is ever justified, Domingues said. “These crews are simply doing their
jobs and must be protected from the effects of wider geo political tensions”.
He stressed that freedom of navigation is a
fundamental principle of international maritime law and must be respected by
all parties without exception.
Dominguez said he is monitoring the situation
closely and urged shipping companies to exercise maximum caution. Where
possible, vessels should avoid transiting the affected region until conditions
improve.
He also called on stakeholders to remain
vigilant against disinformation and rely only on verified, authoritative
sources when making navigational decisions.
“My thoughts are with the injured seafarers
and their families, “ he added. “Their safety and welfare are our highest
priority”.
CMA
CGM launches Ocean Rise Express linking Japan and South China to North Europe
CMA CGM is introducing Ocean Rise Express,
OCR, a new weekly service providing a direct connection between Japan, South
China and North Europe. The Asia-Europe corridor remains a strategic trade lane
for the group and the new service is aimed at offering customers enhanced
reliability and faster transit times on the key East-West route.
Direct weekly link with competitive transit
times. The OCR service will deploy 14
vessels ranging from 7,000 to 10, 000
TEU, including one 8,000 TEU LNG-powered containership. Operated exclusively by
CMA CGM the service is designed to offer competitive transit times and improved
schedule reliability.
From Yokohama, transit times to Rotterdam are
estimated at 38 days, to Hamburg 41 days and to Southampton at 45 days, transit
times are 32 days to Rotterdam, 35 days to Hamburg and 38 days to Southampton.
The company said the new rotation is intended
to accelerate cargo delivery, streamline transit flows and strengthen supply
chain resilience at a time when predictability remains critical for shippers.
The inaugural sailing is scheduled for April 02, 2026 with the following port rotation : Kobe - Nagoya - Yokohama – Xiamen – Yantian – Rotterdam – Hamburg – Southampton – Nansha – Kobe.
Hapag
Lloyd and Maersk unveil 2026 changes to Gemini network
Hapag Lloyd and Maersk will introduce a
series of service adjustments to their jointly operated Gemini network in 2026,
following one year of operations that the partners say delivered schedule
reliability of at least 90 percent.
The revised service structure, set to take
effect in April 2026, includes changes across the Far East to North Europe and
Far East to Mediterranean trades, aimed at refining port coverage and
strengthening transit times.
Air
India Express to resume operations to Muscat; 10 IndiGo flights to bring back
stranded flyers from Jeddah
A plume of smoke caused by an Iranian strike is seen in the background as an Emirates plane is parked at the Dubai International Airport after its closure.Photo | APDubai International Airport announced partial
resumption of operations on Monday with Emirates alone permitted to operate
while Indian airlines have been asked to specify their slots.
In a major relief for Indians who need to
travel between West Asia and India, Air India Express on Monday night announced
resumption of operations from Tuesday to six major Indian cities. The Ministry
of Civil Aviation announced that IndiGo will operate ten relief flights on
March 3 to facilitate the return of stranded passengers from Jeddah on Tuesday.
The Ministry said this was subject to
required approvals and prevailing airspace conditions. “IndiGo is coordinating
with the Consulate General of India at Jeddah for passenger facilitation,” it
said. The Ministry added that 357 flights were cancelled to and from West Asia
on Monday.
In an official statement, Air India Express said it will resume flight operations to and from Muscat beginning March 3 with scheduled services to Delhi, Kochi, Kozhikode, Mangaluru, Mumbai and Tiruchirappalli. “The first Air India Express flight from Muscat will operate to Tiruchirappalli, departing at 10.25 hours local time,” said a spokesperson. Flight operations to Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE remain suspended till 11.59 pm India time on Tuesday, he said.
Meanwhile, Dubai International Airport
announced partial resumption of operations on Monday with Emirates alone
permitted to operate while Indian airlines have been asked to specify their
slots, said a top airline executive.
Etihad
sees cargo revenues rise as profits hit record levels
Etihad’s cargo business saw revenues and volumes rise last year to help the overall airline business to a record profit. The airline saw cargo revenues increase by 8% year on year in 2025 to $1.2bn, while cargo volumes were up 9% to 703,000 tonnes.
The company said that its cargo business had benefited from capacity expansion, while its partnership with Chinese express giant SF Airlines also boosted performance.
“Growth in the passenger fleet also supported
cargo performance through increased belly-hold capacity, reinforcing Etihad’s
integrated passenger and cargo operating model.
“As a result of this expanded capacity and
its joint venture with SF Express, Etihad became the largest cargo operator
between mainland China and the Middle East, operating over 100 monthly cargo
services.”
In November, Etihad Cargo and SF Airlines teamed up to increase air
cargo capacity between Abu Dhabi and Shenzhen and Ezhou, two of China’s major
logistics hubs.
The airlines signed a Joint Business
Agreement (JBA) that will see them jointly market and integrate their
airfreight services, align service standards, and introduce coordinated
pricing.
The partnership is geared towards supporting
fast-growing markets such as cross-border e-commerce and pharmaceuticals.
Significant growth was recorded across core
verticals, the airline said.
“FlyCulture increased by 89%, driven by the
transportation of artwork, cultural heritage and museum exhibitions.
Live Animals grew 121% year on year, supported by specialised handling
expertise,” Etihad Cargo said in a press release.
“PharmaLife expanded by 22% as enhanced team
capability strengthened temperature-controlled pharmaceutical transport.
FlightValet saw a 174% increase following product enhancements for luxury
vehicle customers.”
To meet rising demand, the carrier expanded
freighter services across key hubs, including Shenzhen, Ezhou, Hong Kong,
Riyadh, Paris, and Frankfurt, alongside new deployments from Phnom Penh and
East Midlands.
The carrier also strengthened its fleet by
securing dedicated Boeing 777 freighter capacity operated by Atlas Air,
enhancing connectivity between Hong Kong, Abu Dhabi, and Madrid, and bringing
Etihad Cargo’s total freighter fleet to six aircraft compared with five in
2024.
Stanislas Brun, chief cargo officer, Etihad
Airways, said: “2025 was a milestone year for Etihad Cargo, driven by the trust
of our customers and the dedication of our global team.
“We achieved strong growth across every major
product line, expanded our network to meet rising demand, and delivered one of
our most reliable operational performances to date.
“Becoming the largest cargo operator between
the Middle East and mainland China underscores our strategic focus on building
future‑ready trade corridors.” Looking
ahead, Etihad Cargo said it is “focused on scaling its network”, building
on existing partnerships, expanding freighter capacity, and investing in
“customer‑centric developments to meet growing global demand”.
At the half-year mark, the airline’s cargo
volumes had
increased by 1%, pointing to a strong second six months of the year. In
2024, Etihad was the world’s 23rd largest cargo carrier, according to the
IATA WATS report statistics. Last year, fleet expansion drove the operating
fleet to 127 aircraft, the largest in Etihad’s history, following 29 aircraft
additions during the year, including A321LR, A350, B787 deliveries and A380
reactivations.
The overall airline reported profit after tax
of $698m, up 47% year on year, with a profit margin of 8.4%. Revenues grew by
21% to $8.4bn, driven by “strong performance across both passenger and cargo
businesses”.
Logistics
UK calls for clarity on latest US tariffs
Transport trade body Logistics UK has called
for clarity regarding US moves to introduce a worldwide tariff rate of 15% on
imports into the country. The tariffs
came into force this morning at a rate of 10%, but US president Donald Trump
said on social media they will increase to 15%.
According to reports, US officials are
working on a formal order to increase the rate. The UK had previously agreed a
trade arrangement with the US that set a tariff rate of 10%. Logistics UK said
it is not clear whether this agreement will override the new 10% rate.
James Mills, head of trade policy at
Logistics UK, said: “The US is the UK’s largest single-country trading
partner and accounts for around one sixth of all UK exports, so any changes to
tariff arrangements matter significantly for British businesses.
“Companies now need urgent clarity on how the
proposed 15% levy will apply in practice and confirmation that previously
agreed sector arrangements will be honoured.
“Exports to the US support nearly 1m UK jobs,
making stability in this relationship vital. In a more volatile global
environment, trade-led growth depends on predictability and on keeping trade as
open, efficient and frictionless as possible, because the UK grows when it
trades.”
The new tariffs are being temporarily applied
for 150 days under Section 122 of the 1974 Trade Act. This act allows the US to
apply tariffs where there are fundamental international payment problems, such
as payment deficits or dollar depreciation.
The suspension of the de minimis exemption
will continue, according to the executive order. The president announced the new tariffs after
the US
Supreme Court ruled that he had overstepped his powers in implementing
his previous tariffs applied under the International Emergency Economic Powers
Act (IEEPA).
Last year, air cargo benefited from the US
tariff strategy as shippers looked to move cargo to market quickly to sidestep
uncertainty around future levies. Some production shifted away from China as
companies looked to diversify their supply chains. This again benefited air
cargo as companies looked to the speed and predictability of air cargo.
According to Global Trade Alert (GTA), the
new tariff regime of 15% will benefit some countries while others will lose
out.
“Countries that faced steep IEEPA surcharges
see large tariff reductions: Brazil (-13.6 pp), China (-7.1 pp), and India
(-5.6 pp) benefit most, since the flat S122 surcharge replaces country-specific
IEEPA rates that were far higher,” GTA said.
“At the other end, countries that already
faced low tariffs before the ruling now pay more. The United Kingdom (+2.1 pp),
Italy (+1.7 pp), and Singapore (+1.1 pp) see the largest increases, because the
15% S122 surcharge exceeds what they paid under the IEEPA regime.”
Parcelhero’s head of consumer research, David
Jinks said: “New Government data released only last week reveals that UK goods
exports to the US fell to £59.2bn in 2025. Compare that to £60.4bn in 2023.
“This £1.2bn slump in UK exports since Trump
took office will be the tip of the iceberg if the USA goes ahead and imposes a
15% global tariff on the UK despite last year’s trade deal.
“Even the 10% global tariff introduced this
week is bad for the UK, as it means Chinese exports to the US will plummet in
price, eliminating the UK’s hard-fought advantage.”
Miami
International Airport reports sixth year of cargo growth
Miami International Airport (MIA) has
reported its sixth consecutive year of growth for air cargo volumes. The US airport said air cargo shipments in
2025 were up 13.6% year on year to nearly 3.5m tons.
Miami-Dade County Mayor Daniella Levine
stated: “For the sixth consecutive year, MIA has set a new cargo record –
powering trade, jobs, and opportunity across Miami-Dade County.” The airport’s imports are dominated by
perishables, mostly from South America and Central America. Exports are led by high-value manufactured
goods, including telecommunications equipment and computers.
The value of MIA trade in December rose 8.7%
year on year. Trade by tonnage in the same month rose 0.19% year on year. Air cargo business at MIA has been robust in
recent years. In 2024, MIA handled a record 3m tons of airfreight, a 9%
increase over 2023. 84% of air cargo volumes were international and 16% were
domestic.
There are more than 40 freighter airlines
operating scheduled or charter flights at the airport. Atlas Air is the cargo
airline with the biggest presence by volume at MIA. Other major freighter
operators include Avianca, LATAM, UPS and FedEx.
56 passenger airlines also operate at the
airport, helping move belly cargo volumes to and from MIA. Of MIA’s top 10
global trading partners (top countries for total cargo trade – import/export),
nine are in Latin America and the Caribbean by volume.
CMA
CGM renews ULD agreement with Jettainer
CMA CGM Air Cargo has extended its unit load
device (ULD) partnership with Jettainer as it continues to grow its worldwide
operations.
The French airline has agreed on a long-term
extension of its partnership with the Germany-based ULD solutions company, a
subsidiary of Lufthansa Cargo.
“We would like to express our sincere thanks
for CMA CGM AIR CARGO’s trust in our services“, said Jan Wilhelm Breithaupt,
chief executive of Jettainer.
The company now has more than 100,000 ULDs in
500 locations worldwide.
The company announced several improvements to
its technology last year to enable better ULD visibility.
Jettainer now utilises API connections that
allow its JettwareNG platform to be more easily and flexibly integrated into
customers’ IT architectures. The integration provides customers with a
dashboard view containing information about loading equipment.
Last year, its “JettApp” mobile web
application also became accessible via any browser, removing the requirement
for it to be installed on mobile devices and reducing IT administration.
Since launching in 2021, CMA CGM Air Cargo
has been working on growing its fleet and network.
Fleet data website, Planespotters shows the
airline currently has five Boeing 777 freighters and one Airbus A330-200F. The
airline has also ordered eight new generation Airbus A350Fs.
In April last year, the CMA CGM Group
also completed
the acquisition of Air Belgium and its fleet, comprising two
Airbus A330-243Fs and two Boeing 747-8Fs.
While the airline aims to expand globally,
one of its key focus areas is the US. In March last year, CMA CGM Air Cargo
announced plans to develop an air
cargo hub in Chicago and deploy its 777Fs to expand US air cargo
capacity.
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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