JUPITER SEA & AIR
SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91 98407 85202
Corporate News
Letter for Monday March 23, 2025
Today’s
Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
|
|
93.71 |
1.07 |
1.155008 |
92.89 |
92.64 |
|
|
|
1.1558 |
-0.0031 |
-0.267498 |
1.1589 |
1.1589 |
|
|
|
125.4138 |
2.340202 |
1.901466 |
124.5553 |
123.0736 |
|
|
|
108.2271 |
1.321999 |
1.236609 |
107.3881 |
106.9051 |
|
|
|
158.724 |
0.994003 |
0.630193 |
157.73 |
157.73 |
|
|
|
1.3376 |
-0.0055 |
-0.409497 |
1.3431 |
1.3431 |
|
|
|
99.529 |
0.296997 |
0.299296 |
99.282 |
99.232 |
|
|
|
0.5899 |
0.0099 |
1.706902 |
0.5875 |
0.58 |
|
/// Sea Cargo News ///
India taps 65m barrels of Russian crude
Broker and analytics data suggest the licence will immediately reshape flows into India. “Opening access to Russian crude … looks likely to have given India access to ~65m bbls of Russian crude that was previously off limits,” broker Braemar estimated, arguing that figure could compensate Indian refiners for roughly 23 days’ worth of lost Middle East Gulf crude.
Braemar’s assessment draws on Vortexa
tracking and on‑voyage destination signals: “About 65 million additional bbls
of Russian crude already on board tankers could well end up in India over the
next few weeks,” the note said, breaking the total into parcels in transit, pre‑March
5 lifts now rerouting, and barrels in floating storage.
Vortexa‑derived movement patterns underpin
the re‑routing thesis: some 8m barrels already in transit have flipped to India
as their predicted destination, while 49m barrels lifted before March 5 remain
candidate cargoes that could be discharged in India rather than heading east.
Around 7.6m barrels sit in floating storage in East Asia.
The first visible sign of that rebalancing
arrived in Mumbai on Wednesday when the suezmax Shenlong – carrying an
estimated 1m+ barrels and managed by Greece’s Dynacom – berthed to begin
offloading. Local port officials said the cargo will be refined in Mumbai over
the next two days.
The vessel reportedly switched off AIS while
transiting the strait but resumed transmissions before arrival; its crew
includes Indian, Pakistani and Filipino nationals under an Indian
master. New Delhi has also been pursuing a
diplomatic safety valve.
Indian media report direct talks between
external affairs minister S. Jaishankar and Iran’s Abbas Araghchi have yielded
a deal to allow an initial tranche of some 20 crude tankers and LPG carriers
safe passage through Hormuz – a potential energy lifeline that few other Gulf‑dependent
buyers possess. Iranian officials deny reported assurances in some outlets,
reflecting the delicate, confidential nature of the negotiations.
The OFAC licence and rapid re‑routing mean
India can blunt the shock of evaporating Gulf supplies by absorbing sanctioned
or previously stranded Russian barrels, reshaping short‑term global flows and
ton‑mile demand.
Yang Ming readies order for six LNG dual-fuel boxships
The company’s board of directors signed off on the plan, clearing the way for six LNG dual-fuel neo-panamaxes, intended to replace older ships and vessels nearing the end of charter contracts in the 4,250 teu to 6,500 teu range. The move forms part of the carrier’s long-term fleet strategy aimed at strengthening its position in the main east–west trade lanes.
Yang Ming said the 13,000 teu design is
well-suited to its existing fleet structure and will complement the company’s
10,000 teu ships. The vessels are expected to become a core part of its
services linking Asia with North America, South America and the Mediterranean.
Yang Ming is targeting a fleet of 124 ships
and a total operating capacity of around 1.25m teu by 2032, alongside a global
container market share of between 3% and 3.5%.
The Taipei-listed company currently operates
close to 100 vessels and has an orderbook of nearly 20 ships. In recent years,
Yang Ming has gradually expanded its fleet through a mix of secondhand
neo-panamax acquisitions and newbuilding orders.
Last year, the world’s 9th and Taiwan’s
second-largest box carrier also contracted a series of 8,000 teu ships in Japan
and 15,000 teu vessels at yards in South Korea as part of the same fleet
modernisation programme. The shipyard of choice and potential price tag for the
latest series have yet to be disclosed.
Class
NK certifies Pakistan’s first Hong Kong convention-compliant ship recycling
facility
ClassNK certified Salam’s International, a
ship recycling facility in Pakistan, as the first facility in the country
certified for compliance with the Hong Kong International Convention for ship
recycling. The competent authority in Pakistan is expected to issue the
document of authorization to conduct Ship Recycling as required by the
Convention.
Pakistan acceded to the Hong Kong Convention
in November 2023. Ship recycling facilities in the country have since been
working toward compliance.
Salam’s International actively undertook
improvements in both infrastructure and management systems from an early stage
to achieve safe and environmentally sound recycling. ClassNK evaluated these
activities and granted certification.
ClassNK has been providing certification for
ship recycling facilities since 2012, ahead of the Convention’s entry into
force. The organization has certified approximately 80 facilities, mainly in
India and Bangladesh.
The launch of a ClassNK certified facility in
Pakistan expands options for Conventional compliant recycling. It also
contributes to improved safety and environmental protection within Pakistan’s
ship recycling facility.
ClassNK said it will continue to promote
transparent, safe and environ- mentally sound ship recycling through
certification of facilities that meet convention standards.
The Hong Kong International Convention for
the Safe and Environmentally Sound Recycling of Ships was adopted in 2009. The
Document of Authori-zation to conduct Ship Recycling is an authorization
document issued by the competent authority under the Hong Kong Convention,
authorizing that a ship recycling facility meets Convention requirements.
CMA
CGM upgrades PEARL Service
CMA CGM is overhauling its PEARL (PRX)
service to offer a new direct connection between the West Indian Subcontinent
and the US West Coast. The upgrade focuses on enhancing transit times and
reliability for shippers moving cargo from India, Pakistan and Sri Lanka to Los
Angeles.
The revised rotation introduces exclusive
direct calls, cutting out trans-shipment delays for major South Asian hubs. The
carrier will provide weekly, fixed-day departures to ensure consistent
scheduling for trans-Pacific trade.
New Service Rotation : The updated PEARL
service follows a comprehen- sive loop connecting South Asia, Southeast Asia
and China to California :
(*)
Eastbound : Nhava Sheva – Mundra – Karachi – Colombo – Singapore – Haiphong
– Xiamen – Nansha – Yantian – Los Angeles.
(*)
Westbound : Los Angeles – Gwangyang – Qingdao – Shanghai – Ningbo – Shekou
– Singapore – Nhava Sheva – Mundra – Karachi.
Comprehensive Transit Times : The direct link
significantly sharpens the transit profile for the West Indian Subcontinent.
Shippers can expect the following duration to Los Angeles :
Indian Register of Shipping classes VLCC Lila Jamnagar
Indian Register of Shipping took into class
Lila Jamnagar, a 298 997 DWT Very Large Crude Carrier. The Vessel is one of the
largest to sail under the Indian flag.
The addition marks an important milestone for
India’s tanker fleet. It highlights the growing role of Indian classification
in supporting the country’s maritime ambitions.
RFK Shipping IFSC Private Limited owns the
vessel. The ship is operated through the Lila Global platform and registered at
Gujarat International Finance Tec-City.
The classing demonstrates IRS’s capability to
provide classification and technical services for large, complex vessels
engaged in global energy transportation. IRS will support the vessel throughout
its operational lifecycle, ensuring compliance with international standards
governing safety, structural integrity and operational performance.
P K Mishra, MD of IRS, said India’s
aspiration to expand its merchant fleet and strengthen energy transportation
capabilities requires robust technical oversight and globally recognised
standards. The classification demonstrates IRS’s ability to support large
tanker operations while contributing to the growth of India’s maritime
ecosystem.
The vessel is the first Indian-flagged VLCC
structured through GIFT City. The development reflects the increasing role of
the financial hub in enabl -ing maritime asset ownership and investment
structures linked to India.
Global
powers reject Trump’s call for naval coalition in Strait of Hormuz
United States President Donald Trump recently
requested an international naval coalition to secure the Strait of Hormuz. This
request comes during the ongoing US-Israel war on Iran. However, several key
global allies have formally declined to send military vessels.
European allies cite legal constraints : Major European powers expressed significant
reservations about the mission. German Chancellor Friedrich Merz stated that
Germany lacks a mandate from the United Nations, the European Union or NATO.
Under Germany’s Basic Law, such a mandate is required for military action. Merz
also noted that Washington and Israel did not consult Germany before starting
the war.
UK and EU prioritize diplomacy : The United Kingdom
also signalled caution regarding the conflict. Prime Minister Keir Starmer said
the UK will not be “drawn into the wider war”. He acknowledged that re-
Opening the Strait is vital for oil market
stability. However, he emphasized that any action must involve as many partners
as possible.
EU foreign ministers chose to strengthen the
EUNAVFOR Aspides mission in the Red Sea instead. They will not extend its
mandate to the Strait of Hormuz. Kaja Kallas stated that “this is not Europe’s
war” and confirmed a preference for diplomacy.
Widespread refusal from global partners : Other nations have also declined to
participate in the naval force. Japan and Australia, both historic US allies,
ruled out sending military assets. Additionally, Poland, Sweden and Spain
confirmed they have no intentions of sending ships.
Trump criticizes unenthusiastic allies : President Trump criticized the countries that
declined to support the mission. He stated that the US has protected these
nations from “horrible outside sources” for many years. On Monday, he claimed
“numerous countries” told him they are on their way. However, he did not
identify any specific countries that have committed to the coalition.
OOCL
Sunflower loses containers in North Pacific
An OOCL operated containership lost multiple containers overboard while crossing the North Pacific in heavy weather conditions.
The 16,800 TEU Vessel Sunflower reportedly
lost 32 containers on March 13, 2026 while sailing South of the Aleutian
Islands – Alaska, enroute from Taiwan to Long Beach, where it is currently
berthed at the Long Beach Container Terminal.
The incident highlights ongoing risks to
container shipping posed by harsh weather conditions in the North Pacific,
particularly during winter and early spring months.
IndiGo
imposes fuel charge up to ₹2,300 on flights
Indigo said the move follows a sharp increase in aviation fuel prices.
India’s largest airline IndiGo on Friday
announced the introduction of an additional fuel charge ranging from Rs 425 to
Rs 2,300 per sector on domestic and international routes, citing a sharp surge
in aviation fuel prices triggered by geopolitical tensions in the Middle East.
The airline said the revised charges will
come into effect from 00:01 hrs on March 14, 2026, and will apply to all new
bookings across its network.
Under the revised structure, passengers
travelling within domestic India and the Indian subcontinent will pay a fuel
charge of Rs 425 per sector, while flights to the Middle East will attract Rs
900.
For longer international routes, the airline
will levy Rs 1,800 per sector on services to South East Asia and China as well
as Africa and West Asia, while flights to Europe will carry the highest
additional charge of Rs 2,300.
The airline said the move follows a sharp
increase in aviation fuel prices, with the International Air Transport
Association Jet Fuel Monitor indicating an over 85 per cent rise in jet fuel
prices in the region amid the ongoing geopolitical tensions in the Middle East.
“Aviation Turbine Fuel represents a
significant share of airlines’ operating costs and the sudden spike has
materially impacted airline operations and network economics,” the airline said
in a statement.
The carrier added that while the surge in
fuel costs could require substantial fare adjustments, it has opted to
introduce a relatively smaller fuel charge to limit the burden on passengers.
IndiGo said it will continue to monitor fuel
price movements and review the surcharge as the operating environment evolves.
The airline reiterated its commitment to
providing affordable and reliable air connectivity across its domestic and
international network.
|
Route |
Fuel Charge (INR) |
|
Within Domestic India |
₹425 |
|
Indian Subcontinent |
₹425 |
|
Middle East |
₹900 |
|
South East Asia and China |
₹1,800 |
|
Africa and West Asia |
₹1,800 |
|
Europe |
₹2,300 |
GMR
Airports wins IGI Airport Cargo Terminal 1 contract
GMR Airports will execute the project on a
revenue share model with an estimated Rs 340 crore share in the first full year
of operations and will run until 2036.
GMR Airports has received a Letter of Award
from Delhi International Airport to upgrade, modernise, finance, operate and
maintain Cargo Terminal 1 at Indira Gandhi International Airport.
The project, awarded under a competitive
bidding process, will be executed on a revenue share model with an estimated Rs
340 crore share in the first full year of operations and will run until 2036,
the company said in a BSE filing.
The concession was earlier operated by Çelebi
Aviation but was terminated in May 2025 following a directive from the Ministry
of Civil Aviation. To ensure operational continuity, DIAL had temporarily
granted the concession to GMR Airports on existing
terms before initiating a fresh bidding process in November 2025.
Following the completion of the competitive
bidding process, GMR Airports emerged as the selected bidder and has now been
formally awarded the contract through the Letter of Award.
The company will undertake the modernisation,
management and long-term operation of the cargo terminal, strengthening cargo
infrastructure and operational efficiency at one of India’s busiest
international airports.
The transaction is classified as a related
party transaction but has been executed on an arm’s-length basis, the company
added.
AI
won’t take decision making away from humans in air cargo
The deployment of Artificial Intelligence
(AI) solutions in air cargo is unlikely to take decision making away from
humans, according to speakers at the IATA World Cargo Symposium (WCS).
During a panel discussion on digitalisation
in air cargo, session moderator Andress Lam, head of cargo digital, Cathay
Cargo, asked panellists how AI would impact the air cargo market over the
coming five years.
While they found it hard to predict how the
technology would develop, given the speed at which it is currently progressing,
they each agreed it would not replace humans in the decision-making process.
Neil Turner, director, Lodige, said that AI
would likely assist humans in making decisions.
“I see the AI assisting, I see the AI
suggesting, I see the AI helping the human sat in a huge sea of information,
highlighting critical information that supports the accurate and repeatable
decision making,” he said.
“Technology can condense that information and
focus the attention of the experts in the particular areas where those critical
business affecting decisions need to be made.”
Alessandro Alfano, senior vice president of
product and technology, Accelya, added that he was often asked by people
whether AI would take their jobs.
“The real question should be, will I become
obsolete?” he said. “I think absolutely not.” He said in the future, people
would be similar to head chefs in the kitchen, with AI chopping, baking and
cooking.
“The decision part is going to be in our
hands, I have no doubt about it,” he said.
“AI today does not have creativity because it is all based on past data
and humans can bring something that never happened before, so we will highly
rely on humans.”
Finnair Cargo head of global sales Anna-Maria
Kirchner likened AI to a co-worker that supports decision-making to speed up
the process and make it more accurate.
“Roles may change from an automation
perspective,” she said. “And AI will play a significant role in planning, but
they will also allow us to focus on the more important things we are doing in
the value chain.”
The panellists were also asked which one
piece of advice they would give a company looking to invest in technology. Alfano
said to start small and collaborate with others, a point of view echoed by Lam
and Kirchner.
Turner added it was important to not only
focus on investing in the terminal, but also to make sure that everything that
connects with those terminal investments – for instance, airside infrastructure
– is also at a high standard.
Air
cargo perishables stay resilient while pharma holds value
Food, perishables and pharma together account
for more than a fifth of global airfreight volumes, but with stark contrasts in
value and yields, according to new insights from Aevean.
Presenting Aevean’s insights into special
cargo trends on day two of IATA’s World Cargo Symposium (WCS), Maarten Wormer,
head of consulting at the strategy consulting firm, said food and perishables
and healthcare and pharma combined represent 21% of global airfreight volumes
but there is a contrast between the values of these verticals.
Food and perishables comprise 17% of global
air trade weight, but just 1% of the value share, while the yield premium is
-38%, said Wormer.
While there wasn’t overall volume growth in
food and perishables in 2025, it is “a very resilient industry”, Wormer said.
The vertical’s share of global air trade has
remained stable. Between 2019 and 2025. The vertical has consistently
represented between 17% and 19% of global air trade, although month-to-month
seasonality is present.
Measured by year-on-year weight change, there
was a marginal global growth drop of 0.1% from 2024 to 2025, but there were
large regional variations. The Asia-to-Europe lane saw 14% growth, for example.
Latin America growth
Food and perishables volumes did encounter
some volatility due to tariffs, but it was limited, and Latin America remained
strong for trade.
The Latin America to North America trade lane
experienced a 1% drop in food and perishables volumes year on year, but Latin
America to Europe saw a 10% increase, with continued growth expected from the
Mercosur trade deal, said Wormer. Europe to North America had a 2% drop, while
Africa to Europe was also up 5% on account of demand for cut flowers and fresh
vegetables.
“All in all, Latin America to North America
remains the largest food and perishables trade lane, but intra-Asia is also now
at the same level.” That said, he added: “Latin America is the number one
exporter of food and perishables by air, with 1.3m tonnes last year, mainly
flowers, fruits and vegetables. So it represents 26% of the global food and
perishables volumes.”
As well as fruits and vegetables, flowers and
ornamental air exports have shifted towards Latin America. Six in 10 flowers
globally now originate in Latin America.
Meanwhile, shifting back towards the global market, demand for salmon
added 250,000 tonnes to global air cargo volumes from 2016 to 2025, reported
Wormer.
Pharma spotlight
In comparison to food and perishables,
healthcare and pharma make up 4% of global air cargo weight, but hold 11% of
the value share in terms of global air trade. They also have a 39% yield
premium.
While healthcare and pharmaceuticals saw a
modest 2% volume growth in 2025, Latin American exports again had an important
role in boosting the vertical.
“Last year, Latin America provided 23% growth
in healthcare and pharmaceutical volumes, whereas the other origins stayed
flat,” remarked Worrmer.
Demand for air transport of healthcare
products has been driven by medical devices, aids and supplies and there has
been a “very clear shift towards higher value pharmaceuticals, biologics,
reagents etc”, said Wormer. He noted that pharmaceuticals & biologics, as
well as regents, declined 3% in weight, but increased in value by 4% and 8%
respectively.
“This confirms the trend towards more
specialised medication and pharmaceuticals,” said Wormer. Further, Switzerland
is gaining biologics market share and India is growing its vaccine exports.
Wormer also shared data showing how tariffs
last year resulted in pharma supply chain shifts as companies looked to avoid
increased costs.
Pharmaceutical air exports from the Dominican
Republic to the US were up 267% from 2024 to 2025, while exports from China to
the US dropped 12%.
IATA
supports airfreight role in AI boom
Announced at the IATA World Cargo Symposium
(WCS) currently under way in Lima, Peru, the global aviation trade body has
said that it is now utilising the power of artificial intelligence (AI) to
support improvements in air cargo through three specific initiatives.
These initiatives are, in combination,
intended to improve operational efficiency, strengthen safety and compliance,
and accelerate innovation across the global airfreight value chain.
The first AI-based initiative relates to
making IATA publications more valuable and user-friendly.
Specifically, IATA is launching AI Subject
Matter Expert (AI SME), a mobile and web-based application that is designed to
help operational teams quickly find information in IATA cargo and safety
publications by asking questions in everyday language.
The tool provides accurate answers within
seconds, thereby supporting faster operational decision-making, strengthening
compliance and improving efficiency in time-critical environments.
AI SME will be available initially for the
IATA Dangerous Goods Regulations (DGR) and the IATA Cargo Handling Manual
(ICHM) but will then be rolled out progressively across IATA’s suite of
reference publications.
Second, IATA is intending to facilitate
collaboration in airfreight through the launch of an Air Cargo AI Excellence
Hub.
This will bring together airlines, ground
handlers, freight forwarders, technology providers and regulators to support
what IATA said would be “the orderly integration of AI in air cargo”.
The Hub will enable collaboration on best
practices in areas such as governance and compliance, the sharing of
experiences, and the development and deployment of standards.
Finally, as it attempts to improve interline
air cargo procedures, IATA and its strategic partners are exploring the
potential for AI to achieve efficiencies in interlining.
The parties will work together with the aim
of developing a use case to enable airlines using different IT systems to
collaborate in real time on bookings, disruptions and cancellations by using AI
agents to achieve system interoperability among users.
This initiative also forms part of the Data
& Technology Proof of Concept (PoC) area within IATA’s Strategic
Partnerships Program.
Brendan Sullivan, IATA’s global head of
cargo, advised: “The scope for AI to accelerate air cargo’s digital
transformation is enormous.
“Together, these initiatives will help to
make the most of AI’s potential with an industry adoption that is consistent,
interoperable and aligned with global aviation standards.”
He added: “Importantly, we will learn from
these initiatives to identify additional areas where standards, technological
innovation and collaborative development can enable safer, smarter and more
efficient operations.”
Supporting high tech
AI is an enabler for efficiency and speed in
air cargo, but also represents an important component of the physical mix of
airfreight transported around the world – and more so than ever today.
One of the key findings of the IATA report
that was released earlier this week at WCS considering the role of airfreight
in the global economy in 2025 is that, last year, air cargo served to
“efficiently and reliably deliver” high-value, time-sensitive equipment such as
servers, data storage units and memory chips, supporting the ongoing AI boom.
And as IATA’s head of 8ndustry analysis,
Julia Seiermann, explained: “The rapid increase in demand for AI-related goods
in 2025 was met thanks to air cargo, allowing investment to translate into
economic activity rather than being constrained by logistics.
“As economies increasingly and strategically
rely on high-value technology goods, air cargo will continue to play a critical
role in ensuring their timely delivery,”.
Amazon
Air outlines GenAi use cases
Amazon Air is utilising Generative AI (GenAi)
to help monitor safety systems, to inform aircraft maintenance and for recovery
planning.
Speaking at the IATA World Cargo Symposium
(WCS) in Peru, Ali Faddis, director global aviation operations, Amazon Global
Air, was asked about the company’s use of the technology.
In response, Faddis outlined four current use
cases, with safety coming first to mind.
“We can monitor safety systems [using
GenAi],” she said. “That doesn’t mean we are fully taking the human out, but if
we are having data come in, we can monitor that data and use it to make good
decisions.
“We are also seeing a lot of positive output
from using data for preventative maintenance.”
Faddis added that the company also uses GenAi
for recovery planning when operations are unexpectedly affected.
“We have a system that we have built in
partnership with Amazon Web Services that allows us to re-route freight within
24 hours prior to the planned delivery time and that has allowed us to serve
our customers better, whether our internal volumes or our cargo customers.
“We are also using a lot of GenAi for lessons
learnt analysis. It allows you to look across many years of large data sets to
learn more about what mistakes were made and how to correct them in the
future.”
Faddis added that the company was making
further investments in GenAi around network recovery.
While the company is utilising AI, Faddis
said that humans would still be required, particularly when making safety
decisions.
“There are going to be safety-critical
decisions, not necessarily safety monitoring or safety auditing, when risk is
introduced to the network, such as a new operation or a risk control that has
been determined to be ineffective, where we are going to have GenAi make
suggestions, but the decisions will still need to be made by humans.”
She added: “Also, anything with regulatory
implications, if there is a decision to be made, there will have to be some
sort of human thought leadership that goes along with it.”
Asked about the main lessons Amazon Global
Air had learnt regarding the deployment of GenAi, Faddis said that change
management was key to ensuring the technology is fully utilised by employees.
She said it was important that people
understood why the technology was being used and that they trust the output.
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.
Comments
Post a Comment