JUPITER SEA & AIR
SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91 98407 85202
Corporate News
Letter for Friday March 27, 2025
Today’s Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
DAY's LOW-HIGH |
|
93.97 |
0.090004 |
0.095871 |
93.95 |
93.88 |
93.8575- 93.985 |
|
|
1.154 |
-0.0068 |
-0.585797 |
1.1608 |
1.1608 |
1.1523- 1.1572 |
|
|
125.9044 |
0.00 |
0.00 |
125.8706 |
125.9044 |
125.5899- 126.0893 |
|
|
109.0327 |
0.00 |
0.00 |
108.9931 |
109.0327 |
108.8638- 109.1319 |
|
|
159.58 |
0.880005 |
0.554508 |
158.70 |
158.70 |
159.288- 159.698 |
|
|
1.3351 |
-0.006 |
-0.447388 |
1.3411 |
1.3411 |
1.3322- 1.3368 |
|
|
99.639 |
0.040001 |
0.040162 |
99.64 |
99.599 |
99.60- 99.70 |
|
|
0.5893 |
-0.0019 |
-0.321383 |
0.5893 |
0.5912 |
0.5893- 0.5897 |
/// Sea Cargo News ///
Gulf’s
energy crown jewels become targets
The Middle East crisis has entered a new dimension as Iran explicitly declared full-scale economic war on the region’s energy infrastructure following Israeli attacks on gas fields Iran shares with Qatar. Iran has since struck the world’s largest LNG export facility, threatening oil installations across the Gulf, and forcing evacuations from Qatar to the UAE.
An Israeli
airstrike on South Pars, the world’s largest natural gas field shared between
Iran and Qatar, triggered a ferocious Iranian response.
Missiles
rained down on Ras Laffan Industrial City – Qatar’s vast LNG complex that under
normal conditions supplies around one-fifth of the world’s liquefied natural
gas – with Qatar Energy reporting “extensive damage” after four Iranian
missiles were intercepted and a fifth struck the
facility. Production at Ras Laffan had
already been halted following an Iranian drone attack earlier this month.
Qatar
condemned the South Pars strike as “dangerous and irresponsible,” warning it
had put global energy security at risk. Oil prices surged as markets digested
Iran’s new supreme leader declaring that energy sites in Saudi Arabia, the UAE,
and Qatar “have become direct and legitimate targets.” Iranian regional
governor Eskandar Pasalar left no ambiguity about Tehran’s intent.
“The
pendulum of war has swung to a full-scale economic war,” he proclaimed. Iran
issued warnings to evacuate oil stations and refineries across Qatar, the UAE,
and Saudi Arabia.
The human
cost of the maritime crisis deepened overnight as a vessel was struck by an
unknown projectile approximately 11 nautical miles east of the UAE port of
Khorfakkan, setting it ablaze. A Cook Islands-flagged tanker rescued 15
crewmembers from the stricken vessel as it burned in the anchorage area. All
personnel were accounted for – except the master, who remains missing.
The incident
marks the 21st merchant vessel to be targeted since hostilities erupted on
February 28. Against the chaos, tanker earnings
have reached levels previously unimaginable. Tankers International reported
what is believed to be the highest VLCC spot fixture on record, with Oceanis
Eco Tankers-owned Nissos Donoussa fixed on subjects at $752,000 per day by
Trafigura. Arrow’s daily report shows TCE for ships from the Middle East to
China now standing at $414,696 per day.
However,
Fearnleys urged caution about headline numbers. “The Strait of Hormuz remains
shut for all practical purposes and any fixture for inside MEG loading,
promptly and widely reported, smells more of a paper play than a realistic view
to load/transit,” the Norwegian broker warned.
“Thus,
please be warned that the Baltic TD3C estimate is and will continue to be
academic under the current circumstances – and it is not a reflection of
owners’ current earnings.” Yanbu and Oman remain viable loading options, though
rates there have slid into the WS 200s amid ongoing uncertainty around loading
windows that open and close depending on the intensity of hostilities at any
given time.
In the US,
the Trump administration approved a 60-day Jones Act waiver on Wednesday,
temporarily relaxing the law that restricts how oil is shipped between US
ports. The move is designed to ease rising domestic fuel prices but has drawn
immediate backlash from maritime labour groups, who had warned days earlier
that the waiver would do little to address the fundamental supply
disruption.
Bunker
suppliers across multiple global hubs are now advising clients to secure stems
at least 10 days in advance.
The crisis
is being discussed at the International Maritime Organization’s two-day
extraordinary council session in London, convened specifically to address the
humanitarian and commercial fallout. IMO secretary-general Arsenio Dominguez
said: “This situation is unacceptable and unsustainable. Shipping has
demonstrated time and time again how resilient it is, but geopolitics are
testing the sector to the limit. And every time shipping is used as collateral
damage in these conflicts, the whole world is negatively affected, from the
global economy to food security.”
Thomas
Kazakos, secretary-general of the International Chamber of Shipping, delivered
a sombre address highlighting that approximately 20,000 seafarers remain
trapped in the affected area. “These attacks have resulted in fatalities and
caused serious injury to seafarers,” he said, warning that the longer the
crisis endures, “the greater the strain that these crews will be placed under,
as stores begin to deplete, and bunkers reduce.”
Kazakos
called on all relevant authorities to take “immediate and decisive measures” to
guarantee safe passage, and urged all parties to work urgently toward
de-escalation. “The safety of seafarers, the integrity of essential global
supply chains, and the stability of international commerce depend on immediate
action to bring these hostilities to an end, ” Kazakos said.
MSC’s hidden hand behind Sinokor’s VLCC blitz finally
confirmed
The Greek
and Cypriot Competition Commissions have disclosed that an investment framework
agreement was signed on early last month between South Korean shipowner Ga-Hyun
Chung, SAS Shipping Agencies Services. – a Luxembourg-registered entity forming
part of the MSC Group – and Sinokor Maritime. Under the terms of the deal,
MSC’s SAS Lux vehicle will acquire a 50% stake in Sinokor, with Chung retaining
the remaining half and the two parties exercising joint control.
More than
one in four compliant VLCCs are now controlled by Ga-Hyun Chung-led Sinokor,
according to analysis by Norwegian broker Fearnleys, following the Korean
company’s dramatic supertanker raid in the S&P and charter markets over the
past few months.
“There has
never before been a single VLCC operator with such a dominant market share of
the active fleet,” BRS stated in a recent report, describing the Korean owner
as a “super operator” of VLCCs.
The
involvement of the Aponte family – whose empire spans the world’s largest
container, cruise operations through MSC Cruises, and a rapidly expanding
logistics footprint – in a play for dominance of the crude tanker market
represents one of the most significant strategic pivots in recent shipping
history.
The deal is
not yet fully cleared. Greece and Cyprus have formally received the
notification, but further regulatory approvals may be required in other
jurisdictions before the transaction can be completed.
US makes the case to torpedo ‘flawed’ Net-Zero
Framework
The
framework—approved in principle at MEPC 83 in April 2025—had set out a global
fuel standard and an emissions pricing mechanism, which together would have
formed the backbone of international shipping’s path to net zero by 2050.
Submissions
for the next crucial meeting of the IMO’s Marine Environment Protection
Committee (MEPC) are flying in from around the world, with the document
submitted from the United States likely to make the most
headlines.
The US
submission – sent this month – has officially called for the total abandonment
of the NZF. Washington is leading a charge to torpedo the current proposal,
citing “dire economic consequences” for the shipping industry and global
consumers.
The US
submission pulls no punches, labelling the NZF as a “flawed” approach that
would turn the IMO into a “global climate bank”. The American delegation argues
that the framework relies on expensive, unproven fuels while unfairly
penalising existing technologies.
Crucially,
the US is demanding an “energy-all” approach that protects the use of LNG,
nuclear, and conventional fuels. Perhaps most disruptively, the US suggests
that the proposed March 2027 entry into force is now legally impossible and
that the adjourned extraordinary session should never be resumed.
Other major
maritime nations are weighing in early on the debate ahead of the 84th
gathering of MEPC in mid-October.
While the US
seeks to scrap the deal, Japan, the world’s third-largest shipowning nation, is
attempting to act as a bridge-builder, proposing significant revisions to find
a “landing zone” for consensus. Recognising the deep “divergent views”
regarding a global carbon tax, Tokyo, in its recent submission to the IMO, has
proposed removing mandatory payments to the NZF.
Instead of a
“tax,” Japan suggests a system where ships balance their GHG Fuel Intensity
(GFI) deficits primarily through Surplus Units (SUs) traded in the market.
Japan is also calling for a revision of GFI targets, arguing that current base
targets are not realistically achievable and could lead to premature, costly
ship replacements. Their proposal includes setting constant direct compliance
targets from 2028 to 2035 to provide the industry with foreseeable compliance
pathways.
China,
meanwhile, the world’s largest shipowning nation, is focusing its fire on the
technical methodologies that will underpin future fuel regulations. Beijing’s
latest MEPC submission is strongly opposing what it views as discriminatory
accounting for e-fuels.
China argues
that the GESAMP-LCA Working Group has exceeded its mandate by attempting to
include “embodied emissions” – the carbon footprint of manufacturing renewable
energy infrastructure-solely for e-fuels.
To ensure a
level playing field, China is pushing for onboard carbon capture and storage
(OCCS). Beijing demands that OCCS not be excluded from default emission values,
arguing that shipping’s limited experience with captured CO2 should not stifle
the technology’s development.
Since the
October vote last year, IMO secretary-general Arsenio Dominguez has been
running a delicate campaign to soften and straighten the NZF’s language,
meeting with member states to work out a way to get the legislation through
somehow in October this year.
The IMO will
focus on “getting things done” in 2026, Dominguez said in his New Year message.
Dominguez vowed 2026 would be a “year of implementation; moving from plans to
concrete actions and measurable progress”.
Around 3 lakh metric tonnes LPG presently stranded at
Strait of Hormuz : Govt
Presently, 22 Indian-flagged vessels are stranded at the Strait of Hormuz of which six are LPG carriers, one is an LNG tanker, four vessels are carrying crude oil, one is chemical and products carrier, three are container ships, and two are bulk carriers among other vessels, as per data by shipping ministry.
“One LPG vessel (Very Large Gas
Carrier) roughly carries 45,000 metric tonnes of LPG. There are roughly 3 lakh
metric tonnes of LPG presently stranded at the strait of Hormuz,” Sinha said.
Two Indian-flagged LPG tankers —
the Shivalik and Nanda Devi — safely passed through the Strait of Hormuz on
March 14 and have reached India carrying approximately 92,700 metric tons of
LPG.
India has begun sourcing cooking
gas from the United States as part of efforts to diversify supplies amid the
ongoing West Asia crisis in addition with the long-term deal signed by
state-run refiners for 2.2 million tonnes per annum of LPG for 2026.
“Most of the LPG is coming from
the Gulf. Our OMCs have started taking LPG from the US. Government is putting
all efforts to diversify sources of LPG too,” said Sujata Sharma, Joint
Secretary in the Ministry of Petroleum and Natural Gas, at a government briefing.
She added, “We are getting more crude today due to increased diversification.”
Meanwhile, Randhir Jaiswal,
additional secretary in the ministry of external affairs clarified on reports
of giving three Iranian vessel in exchange of safe passage to Indian vessels
along strait of Hormuz and said that no discussion between Indian and Iranian
authorities have taken place.
“In any case, the three vessels
you refer to are not Iran owned and there’s no Iran crude on it,” Jaiswal said.
Government sources also told
Moneycontrol that India continues to export pharmaceutical to Iran amid reports
of India agreeing to provide medical equipment to Iran to ensure safe passage
of vessels from the strait of Hormuz.
India will seek vessel by vessel
permission rather than a blanket clearance from Iran for safe passage of its
ships from the Strait of Hormuz, a government official has earlier told
Moneycontrol.
Government sources had earlier
told Moneycontrol that India is continuously engaging with Iran to ensure safe
transit of remaining stranded vessels in the Persian Gulf. “We are in
continuous talks, we want to ensure safe passage for Indian vessels,” the source
said, adding that there will be more talks.
Sinha further said that the
ministry has held discussions internally for providing war risk premium to
shipping lines which is presently an issue. “We have asked them to give
specific issues. The same issue was not raised by Shipping Corp of India when we
were doing transit of these two ships (LPG carriers), but later on some
shipping lines have faced this. So as soon as they inform us about the
challenges, we will take up,” Sinha said.
Further, India is also mulling to
establish Protection and Indemnity (P&I) insurance for the country’s
maritime sector, the shipping ministry official said.
“On the P&I club, there has
already been considerable progress on this matter earlier, and recently 2-3
days ago we have revisited it again with the Department of Financial Services,”
Sinha said.
He added that the government has
also commissioned a study on this, which is partly complete. “The study report
should be with us very soon and based on its findings, we will take this
forward, as it is important for us,” the official said.
US issues new 30-day waiver for sale of Russian oil,
adding Cuba, North Korea exceptions
The license, which expires on April 11, replaces and supersedes a similar 30-day sanctions waiver issued on March 12.
While the
main terms remain identical to those in the license issued earlier, Thursday's
waiver specifically excludes transactions involving North Korea, Cuba and
Crimea.
The
temporary easing of sanctions on Russian oil is a part of the Trump
administration's attempt to tame energy prices that have been driven higher by
the Middle East conflict.
Middle East unrest boosts Asia's intake of Russian
fuel
The influx
will help to alleviate some concerns about supply tightness arising from a
shortage of Middle Eastern fuel oil after the war halted fuel shipments through
the Strait of Hormuz and refiners in the region halted operations.
Asia is set
to receive more than three million tonnes (614,500 barrels per day) of Russian
fuel oil this month, according to ship-tracking data from Kpler and LSEG.
Southeast
Asia is expected to be the top recipient, with about 1.7 million to 1.9 million
tonnes to arrive mainly at Singapore and Malaysia this month, based on
ship-tracking data and traders' estimates. Most of these volumes are expected
to end up as bunker supply for ships, traders said.
China is the
next-largest buyer at about 1.2 million to 1.5 million tonnes this month. Fuel
oil typically ends up at refineries in eastern Shandong province as an
alternative feedstock to crude, supply of which has tightened significantly due
to disruptions in Middle Eastern exports.
"The
disruption in fuel oil flows has an outsized impact on HSFO supplies relative
to low-sulphur fuel oil supplies, as the blockade has also curtailed medium-
and heavy-sour crude flows out of the Strait of Hormuz, tightening the overall
crude supply complex," said Xavier Tang, senior market analyst at
Vortexa.
Washington
on March 12 issued
a 30-day waiver for countries to buy sanctioned Russian
oil and petroleum products stranded at sea. Southeast Asia was already a top
recipient of Russian fuel oil prior to the waiver, though buying had slowed
after major Russian producers were sanctioned in October.
The higher
Russian volumes have cooled the high-sulphur fuel oil (HSFO) market from recent
highs, though analysts said the supply outlook remained tight.
Asia's spot
premium for 380-centistoke HSFO hit a record of more than $76 a tonne last
week, data from trade sources showed, and it eased to around $70 after the US
issued the waiver.
HSFO's
market structure has also gone into firm backwardation from now until the end
of the year, brokers said. Prompt prices are higher than future months in a
backwardated market, indicating tight supply.
Emril Jamil,
senior analyst at LSEG, said the rise in Russian inflows is insufficient to
cover the loss of Middle East supply if the crisis is prolonged.
Royston
Huan, senior oil products analyst at Energy Aspects, said while Russian supply
can provide temporary relief for the market, run cuts at refineries across the
Middle East and Asia will tighten supply.
"The
Strait of Hormuz remains blocked and crude availability remains a concern,
meaning the market should remain bullish overall in the coming weeks or
months," he said.
7 China-bound Russian oil tankers make U-turn, head to
India
The rerouting of these vessels,
monitored by ship-tracking firm Vortexa Ltd, comes after India received a
temporary waiver from the US to buy “sanctioned” Russian oil currently stranded
at sea.
Among the seven, the Aqua
Titan, a medium-sized crude oil tanker, is set to arrive at the New
Mangalore Port on Saturday (March 21). The tanker, which was loaded at a
Baltic Sea port in late January, was originally bound for the Chinese port of
Rizhao. However, it did a U-turn in mid-March, days after India got the US
waiver.
Another tanker, the Suezmax
Zouzou N, is also heading towards Sikka port in Gujarat’s Jamnagar and is
expected to arrive on March 25. It reversed its course in early March,
Bloomberg reported.
The development comes as Indian
refiners stepped up purchases of Russian oil after the US issued a 30-day
waiver amid the effective closure of the Strait of Hormuz by Iran amid the
war. Iran has almost completely blocked ship movements through the Strait,
through which 1/5th of the world’s oil and gas
passes.
Earlier this week, External
Affairs Minister S Jaishankar said India does not have a “blanket
arrangement” with Iran for the transit of Indian-flagged ships. The arrival of
the seven tankers carrying Russian crude is expected to mitigate the short-term
crisis of crude oil for India.
ITF demands immediate action after emergency meeting
at International Maritime Organization
Speaking after the meeting, ITF
General Secretary Stephen Cotton said: “The world has recognised the
grave danger facing seafarers trapped near the Strait of Hormuz – now
governments must act.
“For the thousands of seafarers
still trapped in this region, facing daily threats to their lives, words are
not enough. What matters now is urgent, practical action that safeguards their
safety, health and dignity.”
The extraordinary session was
convened to address the escalating crisis in Persian Gulf, Gulf of Oman, the
Arabian Sea, and particularly the Strait of Hormuz, where seafarers continue to
face attacks on vessels, serious risks to safe navigation, and worrying
shortages of essential supplies.
Lydia Ferrad, ITF Permanent
Representative to the IMO, warned in her intervention to the IMO Council that
the situation remains perilous for crews in the area: “This is not an abstract
geopolitical crisis – it is a human crisis at sea. Seafarers have been killed.
Others have been injured. Thousands remain stranded onboard vessels in
conditions of fear, fatigue and uncertainty. We are receiving daily distress
calls from crews who do not know if they will make it
home.”
The ITF highlighted the reality
facing seafarers in the region, including direct threats to life from attacks
on ships, disruption to navigation systems, limited access to food, water, fuel
and medical care, and severe restrictions on crew change and repatriation.
“Seafarers are civilian workers.
They are not parties to this conflict — and they must never be treated as
expendable,” said Ferrad.
The ITF stressed that the
commitments, demands and calls made during the IMO session must now be
translated into concrete action that safeguards seafarers’ lives, health and
wellbeing.
While recognising the outcomes of
the meeting, Cotton underlined that seafarers urgently need
protection.
“We welcome the commitment from
Gulf states to ensure the provision of essential supplies to vessels in the
region, as well as their efforts to facilitate crew change and repatriation for
seafarers.
“But let’s be absolutely clear:
the focus of all governments must be the protection of innocent, civilian
seafarers. As we said during the meeting, all flag states must immediately
issue clear and unambiguous notices to shipowners and operators to avoid sailing
to, or transiting through, the war zone. No seafarer should be placed in a
position where they are expected to navigate through active conflict.”
The IMO Council encouraged the
establishment of a ‘maritime corridor’ to facilitate the safe evacuation of
seafarers and vessels from the Gulf region as an urgent measure. The IMO
Secretary-General will now work with relevant parties to initiate this.
“The ITF supports the development
of safe evacuation maritime corridors if they are guaranteed to be genuinely
safe in practice, not just in principle,” said Cotton.
About the ITF
The International
Transport Workers’ Federation (ITF) is a democratic, affiliate-led federation
recognised as the world’s leading transport authority. We fight passionately to
improve workers’ lives, connecting more than 730 affiliated trade unions from over
150 countries to secure rights, equality and justice for workers globally. We
are the voice for more than 16.5 million transport workers across the world.
In Brussels, Jaishankar discusses Iran with EU
counterparts
“We also discussed developments
in the Middle East and in Ukraine. De-escalation, stability and energy security
are our shared objectives,” Ms. Von der Leyen said in a post on X, about her
meeting with Mr. Jaishankar. The EU and India were focused on implementing the
trade deal signed in January in New Delhi, “as soon as possible”, she said.
Thanking the EU’s top diplomat
Kaja Kallas for inviting him to the Foreign Affairs Council, Mr. Jaishankar
said, “Our conversation today (19 Mar) therefore covered trade, investment,
technology, mobility and defence in particular.”
The stronger convergence between
India and the EU in a multipolar world is also expressed in closer
consultations,” he added, saying West Asia, Ukraine and the Indo Pacific were
discussed at the meeting. On Sunday (March 15, 2026), Mr. Jaishankar publicly
thanked Armenia for the safe evacuation of 550 Indian nationals from Iran.
Ahead of the meeting, Ms. Kallas
had outlined various options the EU was considering to open the Strait of
Hormuz, a crucial body of water through which a quarter of the world’s oil
passes. The Strait has effectively remained sealed off by Iran since Israel and
the U.S. launched strikes against the country on February
28.
Mr. Jaishankar had said that
India would be happy to share what New Delhi was doing with Tehran, with
European countries, although he acknowledged that every country had a different
relationship with Iran. He had also said there was no quid pro quo involved
with Iran permitting the passage of two Indian-flagged tankers carrying LPG
crossing the Strait on Saturday, saying this was based on a “history of
dealing” with each other. Calling the conflict “most unfortunate”, Mr.
Jaishankar called for other countries to engage with
Tehran.
The Minister had also emphasised
that India did not have a “blanket arrangement” with Tehran for safe passage of
ships, but it was being arranged on a case-by-case basis and discussions were
ongoing.
Mr. Jaishankar met with Cyprus’s
Foreign Minister Constantinos Kombos on Sunday and discussed ways to strengthen
India’s strategic partnership with the country. They also exchanged views on
West Asia; Cyprus currently holds the six-month rotating Presidency of the EU
Council, a body made up of the 27 member-states of the bloc.
Earlier, Mr. Jaishankar met
with Belgian Deputy Prime Minister and Foreign Minister Maxime
Prevot. They agreed to establish India-Belgium strategic dialogue,
according to the Minister.
Nordic’s
air cargo community will gather in Riga
For the very first time since its inception, the Nordic Air Cargo Symposium will be held in a Baltic country. The timing is challenging. Due to the Putin regime’s ongoing attacks on Ukraine, the entire Baltic region has been partially cut off from intercontinental air traffic and has found itself on the periphery.
Yet it is precisely this situation that
should make it interesting for participants to hear from cargo executives in
Latvia, Lithuania, and Estonia, about how they are coping with the situation
and managing the freight business. CargoForwarder Global (CFG) spoke with the
organizer, Lars-Gunnar Comen (LGC), from the Swedish agency, Euroavia Int’l,
about the significance of the event and its key topics.
CFG: What motivated your agency, Euroavia
Int’l, to run the event there?
LGC: Our Nordic event has been arranged
since 2003 in Sweden, Norway and Denmark. After several conferences in
Stockholm and Copenhagen, it was time to evaluate new options. The Baltic
region is officially not part of Nordics or Scandinavia, but still closely
linked to our region.
After talks with RIX Riga Airport if they
would like to host the event, we found that the airport company and other key
players such as Baltic Cargo Hub, air Baltic Cargo, and Latvian Aviation
Association were keen on welcoming us to Latvia. We are delighted to cooperate
with such generous and committed host-partners.
Furthermore, I believe that many delegates
who have attended our Nordic conference would love to visit lovely Riga and
learn more about current developments in the Baltics.
CFG: From a Central European perspective, the
three Baltic countries are somewhat peripheral. Is this reflected in the number
of registrations for the symposium?
LGC: We have to wait and see how many will
participate in the end. Seems like numbers will be pretty much the same as
previously. I very much look forward to welcoming new attendees from the three
Baltic republics.
CFG: In addition to topics concerning latest
developments in cargo, security issues will likely be more relevant than they
were at previous symposia held by your agency. After all, the three Baltic
countries border Russia, which is waging a hybrid war against Europe. Will
speakers highlight the impact on air freight in the region and transport
chains?
LGC: I do not think so in general. We have no
security concerns related to the geographical location of the event. Still, it
is not impossible at all that some speakers will highlight the new geopolitical
landscape in the region and constrained operations conditions.
Until the Russian war on Ukraine started,
several airports in the region received a lot of air cargo coming from China,
with the Russian Federation being the final destination. All these transit
flows are now gone, of course. However, the Baltic airports can still attract
certain air carriers due to their favorable location between east and west.
CFG: Representatives from leading Baltic
airports will attend the trade show. Would you agree if I say that this will
give participants exclusive firsthand information on what consequences the
closure of Russian airspace by Western countries in response to the attack on
Ukraine has for the Baltic aviation landscape and the region’s cargo industry?
LGC: Sure. Conference participants will
receive a lot of exclusive information from coming to the Nordic Air Cargo
Symposium 2026. Still, I have to point out that only one session will be
dedicated to the Baltic region. All others will deal with important market
trends for the Nordic air logistics community and the European perspective in
general, including Norwegian seafood, pharma, e-commerce, etc.
CFG: Looking at the program, the panel ‘Focus
Baltic Air Cargo Market’ with five local experts, stands out in our view. Is
our perception correct?
LGC: We will, in total, have six speakers on
the Baltic Air Cargo Market. The three CEOs of the capitals’ airports Tallinn,
Riga, and Vilnius, plus three speakers from commercial key players; Ospentos
International, air Baltic Cargo, and Strike Aviation Group. They will assess
market trends, outlook, and coming infrastructure developments in the region.
CFG: And finally: Has it already been decided
where and when exactly the Nordic Air Cargo Symposium will take place in 2027?
LGC: No!
Attention, please note:
An individual named John who operates with a
gmail address, has repeatedly attempted to sell what he claims to be the full
contact information database of all Visitors & Attendees list of the
upcoming Nordic Air Cargo Symposium 2026 in APR26. CargoForwarder Global was
also approached and immediately informed Euroavia Int’l, who confirmed that
this is an entirely false assertation and a scam. Please block and report any
such mails as scam to your provider.
Exclusive – Hamburg becomes a hotspot for drones
The city’s government has laid the groundwork
for a comprehensive drone ecosystem – the first of its kind in Germany. The
goal is to create a cross-industry network with a wide range of applications.
Various types of unmanned aerial vehicles (UAVs) will be deployed in urban
areas, depending on their specific task.
The city’s port features 43 kilometers of
quay walls, many of which are over 100 years old, making them prone to damage
and requiring extensive repair. This is an ongoing task that costs a lot of
money and ties up resources. 2018 was the first year that drones were deployed
to inspect quays, bridges and other port infrastructure or spot oil spills
polluting the Elbe River. They proved successful.
HHLA pioneered the use of drones
The driving force behind this drone-based monitoring program was HHLA Sky – a
technology startup affiliated with the logistics company, Hamburger Hafen und
Logistik AG (HHLA). Meanwhile, HHLA-operated drones perform three main tasks:
delivery flights, monitoring and security missions.
Cybersecurity has been a key consideration in
the development of the project from the very beginning. Security mechanisms are
designed to prevent unauthorized individuals or hackers from manipulating
flight paths or taking control of drones and the sensor data they collect. The
X4 drone used by HHLA Sky, a monitoring drone, collects data in
security-critical industries. There are many such areas in the port, including
the neighboring Airbus production plant, and the Lufthansa Technik headquarters
and its many Maintenance, Repair and Overhaul (MRO) facilities at Hamburg
Airport.
Remote drone control
In contrast, the X25 drone from the manufacturer and HHLA Sky partner, Third
Element Aviation, is suitable for last-mile surveillance. This so-called
octocopter, powered by eight fans, has a range of 25 km and can carry loads
weighing up to 10 kg per flight. A drone pilot, working remotely from a control
desk, can maneuver multiple X25 drones simultaneously.
As the range of applications is growing and
more drone providers are entering the market, the Hamburg city government has
decided to coordinate the drone ecosystem by integrating it into its Urban Air
Mobility (UAM) strategy.
This was confirmed on Friday 20MAR26 by
Melanie Leonhard, Senator for Economic Affairs, Labor, and Innovation: “Hamburg
is set to become a European hub for urban air mobility – a place where new
drone applications are developed, tested, and rapidly put into practice. With
our strategy, we are creating the conditions for innovative technologies to be
deployed safely and effectively in the city.”
UAM vision
Her goal is to develop the city and the surrounding metropolitan region into an
internationally recognized hub for UAM applications by 2030. The modes of use
are wide-ranging: they include infrastructure inspections and express
deliveries for logistics companies, supplies of aircraft parts for Airbus or
Lufthansa Technik, medical transport from hospital to hospital, disaster
response missions, and aerial support for public safety agencies and
organizations such as the police and fire department.
A particular challenge is the complex and
closely monitored airspace over Hamburg, which includes traffic at two
airports. The new drone strategy addresses these conditions, while its
implementation depends on two key prerequisites: public acceptance and the
environmental compatibility of the new technology.
The Federal Aviation Authority (LBA), as
responsible regulator, approved HHLA Sky’s drone flights years ago. The
recently announced expansion of the program under the UAM scheme is unlikely to
be derailed by government concerns or any bureaucratic hurdles.
Airbus
closing in on Boeing in large freighter segment
Until now, Atlas Air’s fleet has consisted
exclusively of Boeing freighters – particularly the B747-400F and its
successor, the B747-8F. However, this will change come 2029. That is when the
U.S. lessor will receive the first of the 20 A350 freighters it recently
commissioned – a jetliner that is still in development.
The landmark order, which was announced on
17MAR26, includes an option for 20 additional units of this aircraft variant.
With Atlas Air on board, Airbus is in a position to poach market share from
Boeing. Neither party disclosed the value of the deal.
It is an ambitious undertaking. The European
aircraft manufacturer, for whom building cargo aircraft only played a minor
role for decades, aims to achieve a market share of more than 50% in the large
freighter segment. The start of this journey has been somewhat rocky.
Plans to build an A380 freighter were stopped
in 2007, after FedEx. Emirates, UPS and lessor, ILFC, canceled their orders.
Next attempt to step into the freighter market was the A330-200F which first
took off in 2010. Yet only 38 units have been sold and delivered to date.
The odds for the A350F are good
The latest candidate, the A350F, now appears to provide the necessary
requirements to propel Airbus forward in the large freighter segment and
position it ahead of Boeing. And the odds are good.
Atlas Air’s decision to buy 20 A350F aircraft
demonstrates that this expectation is not unfounded. It is the largest order
for this aircraft to date, placed by a single customer. The A350F promises 30%
lower fuel consumption compared to previous variants, and it can transport 111
tons of payload nonstop over a distance of 8,700 km.
“Most modern and fuel-efficient large
freighter,” Steen
“We are proud to become the largest customer for the Airbus A350F, securing
early delivery positions for this next generation widebody freighter platform,” Michael
Steen, Chief Executive Officer, Atlas Air Worldwide, announced.
The executive went on to say: “This
order reflects our commitment to maintaining the industry’s most modern and
fuel-efficient widebody freighter fleet to best serve existing and new
customers worldwide. The A350F is a highly capable, reliable platform, with
incremental payload and range benefits, and a strong sustainability profile. We
are pleased to add Airbus and Rolls-Royce to our supplier base of leading
aircraft and engine manufacturers, offering us optionality and supporting our
global operations and continued growth.”
Fewer CO2 emissions
The aircraft features the largest main deck cargo door in the industry, with
fuselage length and capacity optimized around the industry’s standard pallets
and containers. Over 70% of the airframe is made of advanced materials,
resulting in a 46-ton lighter take-off weight than the competing derivative.
The A350F is also the only freighter aircraft that will fully meet ICAO’s
enhanced CO₂ emissions standards, coming into effect in 2027.
Atlas Air’s order comes amid a boom in the
cargo sector. Global e-commerce growth and shifts in supply chains are driving
airlines to invest in efficient fleets. Older aircraft are being phased out and
replaced with new, more efficient, and less fuel-thirsty models. However,
manufacturers are struggling to meet market demand with new aircraft in a
timely manner, meaning that demand currently exceeds available supply.
First Airbus freighter to fly in Atlas livery
“We are excited to welcome Atlas Air Worldwide, a global leader of the air
cargo industry, to the Airbus family,” said Lars Wagner, CEO Commercial
Aircraft at Airbus.
“Atlas Air’s selection of the latest
generation A350F – the first in the U.S. – represents a pivotal moment,
cementing the A350F’s position as the preferred true all new-generation
freighter for the world’s most demanding cargo operators. We very much look
forward to seeing it flying in Atlas’ colours.”
AURA
AERO obtains green light for an aircraft factory
Toulouse Blagnac Airport is best known as a
major Airbus aircraft production hub – particularly the wide-body models and
freighter variants. Another production line is set to be added soon – initiated
by local newcomer, AURA AERO. However, this will not happen in Blagnac, but at
the nearby Toulouse-Francazal regional airport, a local hub for general
aviation.
On Friday 20MAR26, the celebrations must have
been in full swing at aircraft manufacturer AURA AERO. The reason: that was the
day the company obtained the building permit to assemble AURA aircraft variants
for short- and medium-haul ranges.
Advanced factory generation
With 50,000 m² of industrial infrastructure, this new production site
represents one of the most ambitious aerospace industrial hubs in France.
Designed to meet the most demanding environmental and regulatory standards, the
future AURA Factory “embodies a new generation of aerospace factories,
focused on innovation, industrial performance, and environmental
responsibility,” is stated in a press release.
The building permit represents a significant
step forward in the development of new, low-emission aircraft – not only for
the company and the French aerospace sector, but also for France as a country,
since the project is both a driving force and a symbol of France’s
reindustrialization.
The project is backed by the European
Commission’s Innovation Fund (EUR 95 million), a crucial strategic aid to
support AURA AERO’s industrial growth and enable the transition to mass
production of their low-carbon aircraft family.
Ultimately, the facility will generate USD 2
billion in revenue and create more than 1,600 direct jobs, making a significant
contribution to the region’s economic vitality and the development of
cutting-edge industrial expertise in the Occitanie region. This facility will
strengthen the local aerospace ecosystem, while generating thousands of
indirect jobs within the supply chain.
Dual industrial strategy and integrated
production
The forthcoming AURA Factory is designed to support AURA AERO’s dual industrial
strategy, enabling the production of aircraft for both civil and military
markets. This approach addresses the growing needs for sovereignty and
industrial resilience, and strategic autonomy. The AURA Factory will mainly
produce:
ERA, a hybrid-electric regional aircraft,
available in a standard 19-seat version or an exclusive version (8 or 9 seats),
as well as cargo or medical evacuation variants. The freighter version can
accommodate 1.9 tons in its 21 m2 compartment. It is powered by
hybrid-electric technology that reduces the environmental impact sharply
compared to aircraft relying on fossil fuels.
Asked about the status of the aircraft, the
Communications Department of AURO AERO said that the assembly of a first
prototype began last year with the initial flight expected to take place in
2027. Certification is scheduled for 2029 followed by first deliveries in 2030.
The ERA project is complemented by a range of
training and practice aircraft with aerobatic capabilities, designed for
civilian and military flight schools.
Finally, a next-generation tactical MALE
(Medium Altitude Long Endurance) drone designed for surveillance, intelligence,
and operational support missions is also noted on AURO AERO’s to-do list.
The AURA Factory groundbreaking ceremony is
scheduled for the second half of 2026, marking the official start of
construction. The plant is expected to begin operations by 2028.
Beyond
Decarbonization: Can SAF strengthen Air Cargo’s fuel security?
Geopolitical crises have long exposed the
aviation sector’s dependence on fossil fuel markets. Escalating tensions in the
Middle East (one of the world’s most important oil-producing regions) regularly
trigger volatility in jet fuel supply and pricing, creating immediate cost
pressure for airlines and air cargo operators.
Against this backdrop, Sustainable Aviation
Fuel (SAF) is increasingly discussed not only as a climate solution but also as
a potential tool to diversify aviation’s fuel supply and reduce exposure to oil
market shocks.
Fuel volatility remains a structural
challenge
Jet fuel is one of the largest operating costs for airlines and remains closely
tied to global oil markets. Supply disruptions, refinery constraints or
geopolitical tensions can quickly translate into rising fuel prices as seen in
the past weeks. For the air cargo industry, where margins often fluctuate with
global trade cycles, such volatility represents a structural challenge.
Industry observers are therefore discussing
whether SAF could eventually contribute to greater price and supply stability.
However, limited production volumes and significantly higher costs mean the
influence on jet fuel markets remains marginal for now.
Unlike conventional jet fuel, SAF can be
produced from a range of feedstocks including used cooking oils, agricultural
residues or synthetic fuels based on renewable hydrogen and captured carbon.
Because these supply chains are not directly linked to crude oil extraction,
SAF could gradually help diversify aviation’s energy base in the long term.
Air cargo sector and SAF integration
Several airlines and logistics providers have already started integrating SAF
into their sustainability strategies. Lufthansa Cargo, for example, offers
programs that allow freight customers to directly support the use of SAF within
their logistics chains.
Through this ‘Sustainable Choice’ initiative,
shippers can contribute to SAF usage and reduce the carbon footprint of their
air freight shipments. At the same time, Lufthansa Cargo is expanding
partnerships with logistics companies such as CEVA Logistics to secure SAF
supply volumes and integrate them more systematically into cargo operations.
Long-term agreements are seen as essential to create planning certainty in a
market that is still developing.
Policy support remains crucial
Industry associations emphasize that SAF market development will depend heavily
on supportive regulatory frameworks.
The Aviation Initiative for Renewable Energy
in Germany recently called for a coordinated European strategy to accelerate
SAF deployment. According to the organization, aviation needs clear investment
signals, stable regulatory targets and competitive production conditions to
scale SAF supply.
One major policy driver is ReFuelEU Aviation,
which introduces gradually increasing SAF blending quotas at European airports
over the coming decades. These mandates are intended to stimulate demand and
encourage investment in production capacity across Europe.
A long-term strategic role
Despite growing political and industry momentum, SAF still represents only a
small share of global aviation fuel consumption and remains significantly more
expensive than fossil kerosene. Nevertheless, analysts argue that a future fuel
mix combining conventional jet fuel, bio-based SAF and synthetic e-fuels could
reduce aviation’s dependence on a single global commodity market.
For the air cargo industry, where fuel costs
are a decisive factor, such diversification could eventually improve resilience
during periods of geopolitical instability.
For now, SAF remains primarily a
decarbonization pathway. Yet as production scales and supply chains mature, it
could gradually contribute not only to aviation’s climate targets but also to
greater long-term energy resilience for global air freight.
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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