JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA. 

E-MAIL : Robert.sands@jupiterseaair.co.in   Mobile : +91 98407 85202

 

 

Corporate News Letter for  Wednesday  April 01,  2026

 

 

Today’s Exchange Rates

 

CURRENCY

PRICE

CHANGE

%CHANGE

OPEN

PREV.CLOSE


USD/INR

94.77

0.050003

0.052735

93.59

94.82


EUR/USD

1.1464

-0.0045

-0.391001

1.1514

1.1509


GBP/INR

125.0724

-0.439301

-0.350008

125.1293

125.5117


EUR/INR

108.9958

0.00

0.00

107.8161

108.9958


USD/JPY

159.651

-0.658997

-0.411076

160.14

160.31


GBP/USD

1.3194

-0.0065

-0.490233

1.3276

1.3259


JPY/INR

0.5939

-0.0006

-0.100922

0.5939

0.5945









///                   Sea Cargo News            ///

INS Anjadip commissioning to boost India’s littoral defense capabilities, says GlobalData


INS Anjadip has recently been commissioned into the Indian Navy, marking a significant advancement in India’s coastal defence posture. Aimed at thwarting Chinese and Pakistani submarine intrusion, INS Anjadip and her sister vessels are poised to substantially enhance India’s anti-submarine warfare coverage in the littoral zones, closing capability gaps and improving responsiveness along its maritime boundary, says GlobalData, a leading intelligence and productivity platform.

The cost of each Arnala-class vessel is estimated at around $118.8 million. The report highlights how India is channeling funds to modernize its littoral defense capabilities by procuring naval platforms designed to intercept and neutralize surface and subsurface threats in shallow coastal environments.

INS Anjadip is part of an eight-vessel Arnala-class shallow-water anti-submarine warfare (ASW) craft project built by Garden Reach Shipbuilders & Engineers (GRSE) in collaboration with Larsen & Toubro.

Samiya Toufeeque, Aerospace and Defense Analyst at GlobalData, comments: “By inducting the second vessel of its class, India continues to demonstrate growing technological innovation and strategic self-reliance in the shipbuilding sector.

The vessels’ high rate of indigenisation strengthens the defense supply chain, mitigating exposure to external disruptions and geopolitical risks. Coupled with government policies aimed at equipping these vessels with indigenous subsystems, these procurements are expected to drive growth across several associated industrial sectors in the country.”

Toufeeque concludes: “As the ongoing conflict in the Middle East escalates, the risk of regional spillover is increasing, and India is likely to take necessary measures to safeguard its territorial borders along the Arabian Sea. This could lead to the deployment of ASW platforms such as INS Anjadip to deter any hostile submarine activities closer to the country’s shores.”

KR Publishes Research Report on Safety Considerations for Hydrogen-Fueled Ships


The publication comes amid growing international efforts to establish regulatory frameworks for hydrogen as a marine fuel. At the 11th session of the International Maritime Organization’s Sub-Committee on Carriage of Cargoes and Containers (IMO CCC), draft interim guidelines for the safety of ships using hydrogen as fuel were developed. The guidelines are expected to receive final approval at the 111th session of the Maritime Safety Committee (MSC), scheduled for May 2026.

Hydrogen, which emits no carbon during combustion, is gaining attention as a promising alternative fuel for maritime decarbonization. It can also serve as a feedstock for producing other alternative fuels such as methanol, suggesting that hydrogen-based fuel supply chains are likely to expand in the future. As international trade and transportation of hydrogen increase, demand for hydrogen carriers and hydrogen-fueled ships is also expected to grow.     

However, hydrogen presents several safety challenges due to its unique physical and chemical properties. These include high flammability and explosion risks, hydrogen embrittlement, and the need for extreme storage conditions compared with conventional marine fuels.

For safe onboard storage and use, hydrogen must be handled either as compressed hydrogen or liquefied hydrogen. This requires storage under extremely high pressures—hundreds of times atmospheric pressure—or at cryogenic temperatures of approximately −253°C. As a result, ensuring the safety and reliability of hydrogen fuel containment systems, fuel supply systems, and related onboard infrastructure has become a key technical priority.

To support the commercialization of hydrogen as a marine fuel and enhance industry understanding of its safety implications, KR developed the report as a technical reference for the maritime sector. The publication provides an overview of maritime hydrogen systems, analyzes hydrogen-related accident cases, identifies key hazards and mitigation strategies, and reviews relevant international regulations.

KIM Daeheon, Executive Vice President of KR, stated, “We hope this research will serve as a useful reference for industry, academia, and research institutions involved in the development of hydrogen-fueled ships. We will continue to support our customers and the maritime industry by advancing technology development and sharing the latest technical knowledge to help address evolving environmental regulations.”      The report is available to the public on the KR website (www.krs.co.kr).

USCG issues RFI for new HSC-L light icebreaker class


The service has now released a Request for Information (RFI) seeking industry input on the new class, which will replace both the USCG’s 65-foot light icebreaking tugs (WYTLs), commissioned into service between 1961-1967, and its 49-foot buoy utility stern loading boats (BUSLs) with a single, dual-capability platform,,

The new HSC-Ls will be equipped with aids to navigation (ATON) capabilities. This means they can perform vital tasks such as quickly restoring damaged or missing navigational aids after storms or accidents. The new vessels will be designed to operate efficiently in a variety of ice conditions, providing safe passage and navigation for vessels of all sizes.

Drone strike hits sanctioned tanker off Istanbul


The 163,800 dwt Altura was struck around 15 nautical miles from the Bosphorus after departing Russia’s Novorossiysk port, according to Turkish media.      

Initial reports indicate the vessel, carrying around 140,000 tonnes of crude, suffered damage to its bridge and engine room, with water ingress reported. The ship was left immobilised northeast of the Turkish Straits.

A distress call from the vessel’s captain described a critical situation onboard, with key systems down and flooding in the engine room. Despite the damage, all 27 crewmembers are reported safe.

Turkish authorities moved quickly to respond, dispatching coast guard units, patrol boats and specialist emergency response vessels to assist. Transport and Infrastructure Minister Abdulkadir Uraloğlu told local media there were no injuries and confirmed technical teams had been sent to the scene.

The cause of the attack has not been officially confirmed, but early indications point to the use of unmanned systems. Authorities said it may have involved a drone or an unmanned maritime vehicle.

The 2005-built Altura, sailing under the Sierra Leone flag, has been sanctioned by the EU and the UK and has been linked to Russia’s so-called shadow fleet. The vessel is managed by Turkey’s Pergamon Denizcilik Isletmeleri and is owned via Sea Grace Shipping, registered in St Kitts & Nevis, according to Equasis data. 

The tanker has changed hands several times in recent years, previously trading as Besiktas Dardanelles before being sold in 2024 and later acquired by Istanbul-based interests and renamed Altura.

Attacks on tankers in the Black Sea are often linked to Ukrainian drone boats and UAVs, though Kyiv has not claimed responsibility for this incident.      

The latest strike follows a string of Ukrainian attacks on Russian export infrastructure flagged by Splash, including hits on the Ust-Luga terminal and the Baltic port of Primorsk. Those incidents, targeting key crude loading hubs, signalled a widening campaign against Russia’s oil logistics chain — now increasingly spilling over to tankers trading out of its ports.

U.S. Opens Massive $2.4 Billion “Factory Of The Future” To Boost Nuclear Submarine Production


The site, built by Hadrian, will produce key components for nuclear submarines and help speed up construction.      The facility is spread across 2.2 million square feet and is designed as a highly automated production unit. It will manufacture parts for Virginia-class submarines and Columbia-class submarines.

The total investment in the project is more than $2.4 billion, including $900 million from the US Navy and over $1.5 billion from private investors. The company says the project could create up to 1,000 well-paying jobs.

US officials said the goal is to reduce pressure on existing shipyards. At present, shipyards in places like Rhode Island, Connecticut and Virginia handle both component production and final assembly.

By shifting component manufacturing to this new facility, those shipyards can focus more on building submarine sections, which could speed up overall delivery.

John C. Phelan said the investment will help rebuild the country’s shipbuilding strength and bring more manufacturing jobs back.

Officials also described the plan as “distributed shipbuilding,” where different parts of the production process are handled at separate locations to avoid delays.     

Jason Potter said these types of factories can take on work that would otherwise slow down shipyards, helping submarines get delivered faster. The US Navy has been facing delays in submarine production for several years due to limited capacity and workforce shortages.

This new facility is expected to ease some of those issues. The company also said its automated systems will make it easier to train workers and improve efficiency.   

The facility is expected to reach full production in about 18 to 24 months. During this time, the company will complete equipment setup, testing, and certification processes. By the third year, the site is expected to run at a steady pace, supplying components for submarine programs.     

Lawmakers said the project will also support the local economy. Robert Aderholt said the investment will bring jobs and growth to the region while strengthening the defence sector.

Activists Hound MSC Ships Accused of Transporting Raw Material for Military


A group of protestors aligned with the BDS movement (boycott, divestment, and sanctions) launched a new effort this week, hounding MSC Mediterranean Shipping containerships, which they allege are transporting raw materials for the Israeli military. They were calling on trade unions, civil society, and political parties to join an effort to pressure the governments and authorities from Italy to Greece to Spain to respond to the alleged shipments.

The group was targeting two of the company’s vessels operating in the Mediterranean. The MSC Vega was traveling to Greece, Turkey, Italy, and Spain. The MSC Danit was arriving in the Mediterranean from India and making calls in Portugal and Egypt. 

The allegations were that the MSC Danit had about eight containers, which they claimed were carrying Indian steel bound for armament manufacturers in Israel. They also asserted that a previous shipment had consisted of 23 containers carrying 600 tons of military steel. 

The activists claimed that they were successful in prompting a cargo inspection in Italy. They also said the Greek dockworkers had said they would not handle any containers with military cargo bound for Israel.

The MSC Danit arrived in Israel on March 23, but the local authorities declined to comment on any action that might be taken.     

The same issue has hounded the shipping companies in recent years, including after Israel started its attacks in Gaza. Activists targeted a series of ships that they also said were carrying explosives or other military-related cargo. 

Several Maersk Line Ltd. ships, which operate with U.S. government contracts to move cargo, had diverted from planned calls in Spain when activists claimed they were carrying military equipment to Israel. The U.S. Federal Maritime Commission reported it was investigating the instances and could penalize Spain.     

Shareholders of AP Moller Maersk were also confronted with the issue as activist shareholders placed issues on the company’s shareholder ballot. Shareholder activist group Kritiske Aktionærer filed a proposal in 2025 to stop Maersk from shipping military cargoes to Israel. It was voted down by the shareholders. 

The group filed a new proposal in 2026 saying that the company must stop all shipments of military equipment, including parts for F-35 fighter jets, to Israel.

Maersk responded that it transports military equipment, including for NATO countries, in compliance with regulations, international standards, and commitments, with increased levels of due diligence in conflict-affected areas.

The board did not support the proposal, and the results of today’s shareholder meeting confirmed that the resolution was again voted down by the shareholders.


/////       AIR  CARGO   NEWS   /////

US airline CEOs urge pay protection during shutdowns


Top US airline executives have called on Congress to guarantee pay for aviation workers during government shutdowns, warning that unpaid staff could disrupt air travel. The letter was signed by leaders from both passenger and cargo carriers, including Michael Steen, CEO, Atlas Air Worldwide; Richard Smith, COO International & CEO Airline, FedEx and Nando Cesarone, EVP & President US, UPS; representing the three major cargo operators.

Passenger airline signatories include Scott Kirby of United Airlines, Ed Bastian of Delta Air Lines, Robert Isom of American Airlines, Joanna Geraghty of JetBlue Airways, Ben Minicucci of Alaska Air Group, Bob Jordan of Southwest Airlines, and Christopher T. Sununu of Airlines for America. In a letter dated March 15, 2026, the CEOs said workers such as TSA officers, air traffic controllers and customs staff must be paid even when the government shuts down.

They urged lawmakers to pass laws that guarantee salaries for these employees. Also Read - Challenge Group wins auction for two more Jet Airways B777-300ERs The airline leaders said shutdowns have already caused long queues, delays and flight cancellations. They added that the situation is likely to get worse if workers continue to go unpaid. They also said most Americans support paying aviation workers during shutdowns. At the same time, many believe that long wait times at airport security will increase if the issue is not addressed. The CEOs warned that the problem is becoming more serious as travel demand rises. With spring break, the FIFA World Cup 2026 and celebrations for America’s 250th year, airlines expect a large number of passengers.

However, travellers are already facing long waits at security checkpoints, sometimes between two and four hours. Airlines said they are trying to reduce disruption by holding flights for late passengers and rebooking travellers, but these steps have limits.

The CEOs also pointed out that TSA officers recently received no pay during shutdown conditions, calling the situation unacceptable. They said it is important for the government to act quickly to support aviation workers, keep air travel running smoothly, and ensure passengers and cargo reach their destinations safely.

WFS cuts truck waiting times at Milan Malpensa cargo hub


Worldwide Flight Services (WFS) has significantly reduced average truck waiting times at its cargo terminal at Milan Malpensa Airport through a locally developed digital solution and operational changes. The improvement has been achieved using an SMS-based system that assigns trucks to warehouse gates, enabling clearer communication with drivers and more efficient handling of import and export cargo. At Milan Malpensa, around 28,000 trucks are processed each year.

To support this volume, WFS redesigned the front of its warehouse and created dedicated truck parking areas to improve the flow of vehicles. As a result, the average processing time per truck has been reduced to 48 minutes. Around 45 per cent of truck visits are now completed within 30 minutes, while 75 per cent are handled within one hour.

Only 10 per cent of operations exceed the airport’s key performance indicators during peak periods. WFS is also promoting the use of its CargoKiosk technology to further simplify and digitalise truck and driver processing. The system helps speed up document handling, saving time for drivers and improving productivity for logistics companies.

The company has also introduced a dock coordination office at the airport and plans further investments to improve vehicle flow and operations in cooperation with the airport authority.

According to WFS, continuous performance monitoring and daily reporting remain central to maintaining service improvements, increasing throughput, and enhancing customer satisfaction through more consistent and timely operations.

Hactl rolls out 100% closed-loop recycled plastic sheets for cargo ops


Hong Kong Air Cargo Terminals Limited (Hactl) has introduced 100% closed-loop recycled plastic sheets across its cargo operations, marking what the company states is a first for the global air cargo terminal sector. The development is positioned as part of the company’s transition toward circular material use in handling processes. Hactl began integrating recycled plastic sheets into its operations in 2022.

At the time, the sheets contained between 30 and 50% recycled content. The company has since worked to eliminate the use of virgin plastic in these materials, moving toward a fully recycled solution for routine cargo handling applications. The latest phase of the initiative was carried out in collaboration with the Nano and Advanced Materials Institute (NAMI).

The two organisations developed plastic sheets manufactured entirely from post-consumer plastic sheet waste generated within Hactl’s own operations. The solution is designed as a closed-loop system, where used materials are recovered, processed, and reintroduced into the supply chain without reliance on new plastic inputs.

The company stated that the new sheets are being deployed immediately across its operations, with potential for wider industry adoption. The approach aims to create a replicable model for other cargo handlers seeking to reduce material waste and improve recycling rates within logistics environments.

The shift is expected to reduce demand for virgin plastic in cargo handling processes, particularly in the wrapping of aircraft pallets. As a high-volume handler, Hactl processes significant quantities of cargo daily, giving it influence over material choices within its operational ecosystem.

Amy Lam, Chief Sustainability Officer of Hactl, said: “Our existing plastic sheets already contained 30-50% recycled material, but we wanted to accelerate our full transition to the circular economy and bring tangible benefits to industry and society at large, and the new 100% closed-loop recycled plastic sheets enable us to achieve that goal.”

Lam added that the company’s position within the air cargo sector allows it to shape material usage practises and improve recycling outcomes. “We believe there is huge scope to improve the air cargo industry’s performance in this area. By incorporating a higher proportion of recycled content into our plastic sheets, we can achieve closed-loop recycling, significantly reduce the carbon footprint of our industry and keep thousands of tonnes of non-biodegradable plastic out of our landfills.”

The initiative comes as the air cargo industry faces increasing pressure to address environmental impacts linked to packaging materials and ground handling operations. While much of the sector’s sustainability focus has centred on fuel and emissions, material use and waste management are emerging as key areas of intervention.

Hactl indicated that its closed-loop model could support broader adoption of recycled materials across cargo terminals, airlines, and logistics providers. The company stated that scaling such solutions could contribute to reducing landfill waste and improving resource efficiency across the supply chain.

Boeing 777-8 freighter mid-fuselage and wings come together


Production of Boeing’s 777-8 freighter has hit a milestone as assembly teams have brought the 777-8F’s mid-fuselage together with its composite wings. The joining of the mid-fuselage and the composite wings, which span 235 feet (72 meters) is known as a wing-body join.

As major sections for the first 777-8F entered Boeing’s Everett complex in Washington, US, assembly installer Pedro Landa said: “This is something to be proud of. It’s a whole new freighter that our customers are excited about, and we’re excited to be building something brand new.”

Boeing’s teams at its 777/777X final assembly facility in Everett, Washington, have also began outfitting forward and aft fuselage sections with systems and wiring.

We’re building on the success of the legacy 777 Freighter,” said Jens Biemann, design engineer lead. “This is going to be an airplane that will help customers be successful in their businesses.”

Marion Lockhart photo © Boeing

Boeing started production on the 777-8F in July 2025. The 777-8F was originally anticipated to come to market in 2027, but in October 2024, Boeing announced it would delay launch until 2028.

Tim Stake © Boeing

The 777-8F has won 68 orders from customers worldwide since Boeing launched the programme in 2022 with Qatar Airways as the launch customer.

Meanwhile, in December, Air Cargo News reported that Boeing is seeking an emissions exemption from the US Department of Transportation (DOT) to enable it to continue selling 777 freighters beyond the end of 2027 and bridge the gap until its 777-8F comes to market.

Cargo capacity continues to close in on last year’s levels

Image: © Shane Hoggatt/ Shutterstock

Air cargo capacity on a global level has continued to edge its way back to the levels registered a year ago following the grounding of operations in the Middle East, according to the latest figures from consultant Aevean.

The company yesterday released figures showing that international air cargo capacity on a global basis was last week just 2% down on the levels recorded in the same period last year.

At the height of the crisis, cargo capacity had been around 20% down on last year’s levels as carriers faced airspace closures across the Middle East.

Since then, affected airlines in the Middle East have been gradually restarting operations. Most recently, the world’s largest air cargo carrier, Qatar Airways Cargo, announced an increase in cargo operations.

Starting from 21 March, the carrier began offering a freighter schedule covering destinations in Vietnam, China, Thailand, South Korea, Nigeria, Kenya, Germany, the Netherlands, Belgium, the US, Brazil, Ecuador and Panama.

However, there are nuances to the data provided by Aevean.

While cargo capacity is currently only down 2% compared with a year ago, data for January and February showed that air cargo capacity before the eruption of fighting in the Middle East had been up by 5.4% year on year in response to demand increases of around 6-7%.

Image: ©

This shows that while capacity is narrowing in on the year-ago level, it may still be lagging behind the demand increases experienced so far this year and, as a result, put pressure on load factors.

Elsewhere, the data from Aevean also shows that capacity into and out of the Middle East continues to lag far behind last year’s levels.

The consultant’s figures show that capacity from Asia Pacific into the region is down 24% year on year, while from the Middle East to Europe, there is a 15% decline.

In contrast, carriers have been shifting capacity on services from Asia Pacific to Europe to make up for the shortfall heading to Europe via the Middle East.  Aevean’s figures show a 31% increase in capacity from Asia Pacific to Europe.

Hugo Boss looks to reduce reliance on airfreight

Image: Shutterstock © Strikernia

Clothing brand Hugo Boss is looking to further reduce its reliance on airfreight as part of efforts to cut both costs and emissions.In its 2025 annual report, the German fashion giant said that last year it had reduced its reliance on airfreight, which it said highlighted its “commitment to balancing cost efficiency with operational excellence, while at the same time emphasising sustainable sourcing practices”.

Looking ahead, the company said it is committed to continuing to reduce airfreight dependence while ensuring on-time product availability. “We strive to further optimise freight modes through a seafreight-first approach,” the company said. “Already in recent years, Hugo Boss has successfully reduced its reliance on airfreight with a further reduction targeted going forward,” the company’s annual report read.

Speaking on an investor call, chief financial and chief operating officer Yves Müller explained that the company was hoping that the push to seafreight would help improve gross margins.

Müller said that the company’s use of airfreight was currently at “high single-digit” levels but the aim was to get this figure down further.

“Airfreight should be kind of an exception going forward, and this is also a positive driver of the gross margin,” Müller said. Fashion brands often rely on airfreight for new product launches as they rush to get products to market.

Extended ocean shipping transit times from Asia and higher costs, as a result of container shipping lines needing to take a longer route around southern Africa, is likely to have pushed up the reliance on airfreight.

Hugo Boss said the overall situation in the Red Sea has shown signs of partial stabilisation but it added that shipping patterns have not yet fully normalised and freight rates remain volatile.

The company also admitted that the recent outbreak of further fighting in the Middle East could further disrupt maritime operations.

“Looking ahead to 2026, renewed escalation of geopolitical conflicts in the Middle East could again disrupt key maritime trade routes, further straining global logistics capacity and increasing transportation costs.

“Hugo Boss will continue to closely monitor developments and implement appropriate measures where necessary.”

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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