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 15, 2026
Today’s
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/// Sea Cargo News ///
High Shipping Costs
Trigger 45% Decline in India’s Onion Exports to Gulf
India’s
onion exports to key Gulf markets have dropped by nearly 45% in recent months,
as a sharp rise in ocean freight rates and logistics costs erodes trade margins
for exporters. Industry sources said shipments to major destinations such as
the United Arab Emirates, Saudi Arabia, and Qatar have slowed significantly,
with exporters either scaling back volumes or temporarily halting contracts.
The Gulf
region has traditionally been one of the largest importers of Indian onions,
relying heavily on steady supplies. Exporters point to elevated container
freight rates, higher bunker fuel costs, and limited vessel availability as key
factors behind the decline.
The longer
transit times and increased handling charges have further added to overall
shipment expenses, making Indian onions less competitive compared to supplies
from alternative origins.
Traders also
noted that fluctuations in domestic onion prices, coupled with tightening
margins, have compounded the impact of rising logistic costs. Smaller
exporters, in particular are finding it difficult to absorb the additional
expenses without passing them on to buyers, which has reduced demand.
Despite the
current slowdown, market participants remain cautiously optimistic about a
recovery if freight rates stabilize and supply chain conditions improve.
Industry bodies have urged the government to explore measures such as freight
subsidies or logistical support to help exporters remain competitive in key
overseas markets.
MSC Nears Historic
1,000-Ship Milestone with Latest Vessel Acquisitions
The
Mediterranean Shipping Company (MSC) is on the brink of achieving an
unprecedented milestone in the container shipping industry, as it edges closer
to operating the world’s first 1,000-ship fleet.
According to
Alphaliner, MSC has recently returned to the second-hand market, acquiring
three additional container vessels — Lucie Schulte, Margarete Schulte, and
Songa Wolf. While modest in individual capacity, the acquisitions underline the
carrier’s consistent strategy of incremental fleet expansion.
With these
additions, MSC’s total fleet has grown to 994 vessels, boasting a combined
capacity exceeding 7.26 million TEU. This firmly reinforces its standing as the
largest container shipping line globally, far ahead of its competitors.
Looking
ahead, MSC’s growth trajectory remains robust. The company currently has 127
newbuild vessels on order, which will add approximately 2.16 Million TEUs to
its capacity – nearly 30% of its existing fleet strength.
Industry
analysts note that MSC’s continued investment in smaller feeder and mid-sized
vessels reflects a strategic focus on enhancing regional connectivity and
operational flexibility. This approach is particularly relevant in today’s
shipping environment, where re-routing, port congestion and evolving trade
patterns continue to shape global logistics.As MSC inches closer to 1,000 ship
mark, the development signals not just a numerical milestone, but a defining
moment in the evolution of global container shipping.
Maersk Stays Cautious
Despite US-Iran Ceasefire, Sees Limited Opportunities in Strait of Hormuz
Global
shipping giant Maersk on Wednesday said the recent ceasefire between the United
States and Iran may create limited transit opportunities in the Strait of
Hormuz, but falls short of providing the security assurance needed to resume
normal operations. In a statement, the Danish container shipping major
emphasized it is maintaining a cautious stance and has not made any changes to
its current services.
“The
ceasefire may create transit opportunities, but it does not yet provide full
maritime certainty,” the company noted, adding that any decision to resume
transits would depend on ongoing risk assessments and guidance from
authorities.
The
conflict, which began with US-Israeli strikes on Iran earlier this year,
followed by retaliatory Iranian actions and the closure of the Strait of
Hormuz, has severely disrupted maritime trade in the Gulf. Shipping activity in
the region has slowed dramatically, sending shockwaves through global supply
chains.
Amid the
crisis, Maersk had suspended cargo bookings to several Gulf ports and
introduced emergency bunker fuel surcharges worldwide to offset rising
operational costs.
To mitigate
disruptions, the company deployed alternative logistics solutions, including a
“land bridge” system routing cargo through key regional hubs such as Jeddah,
Salalah, Sohar and Khor Fakkan, before transporting goods overland to
destinations across the Gulf. Maersk said it will continue to closely monitor
the evolving situation and provide updates as more clarity emerges in the
coming days.
deugro Ships 92 Vehicles to Chile, Secures Capacity During Peak Season
Global
project logistics specialist deugro has successfully completed the shipment of
92 vehicles from China to Chile, navigating tight vessel availability and high
freight demand during the peak shipping season.
The
operation involved the coordinated movement of a mix of vehicles, likely
requiring roll-on/roll-off (RoRo) and containerized transport solutions.
With global
automotive logistics under pressure due to limited capacity and elevated
demand, securing space on vessels has become increasingly challenging for
freight operators.
deugro
leveraged its global network and carrier relationships to ensure timely
execution of the shipment, avoiding delays that have impacted many exporters
during the busy season. The company also managed end-to-end logistics,
including origin handling, documentation and final delivery coordination in
Chile.
Industry
observers note that the successful movement highlights the importance of
advanced planning and flexible logistics strategies, particularly during
periods of constrained capacity. Peak season congestion, combined with
equipment shortages and shifting trade routes, continues to test the resilience
of global supply chains.
The shipment
underscores deugro’s expertise in handling complex logistics operations and its
ability to adapt to volatile market conditions while maintaining delivery
timelines for clients in the automotive and industrial sectors.
Russia Moves to Block
Global Box Carriers from Accessing Its Ports
Russia is
reportedly preparing measures to restrict major global container shipping lines
from calling at its ports, in a move that could further disrupt international
trade flows and deepen geopolitical divisions in maritime logistics.
According to
industry sources, the proposal—being considered by authorities in the
Kremlin—may target leading “box carriers” that are seen as aligned with Western
sanctions or have scaled back operations in Russia since the escalation of the
Russia-Ukraine conflict.
If
implemented, the restrictions could impact some of the world’s largest
container lines, forcing a reconfiguration of shipping networks serving Russian
ports. Cargo flows may increasingly shift toward regional operators or
non-Western carriers willing to maintain services despite ongoing geopolitical
tensions.
Industry
analysts warn that the move could lead to longer transit times, higher freight
costs and reduced service frequency for imports and exports linked to Russia.
Sectors reliant on containerized cargo-including
Machinery,
consumer goods and components – may face additional supply chain challenges.
Shipping
companies are closely monitoring the situation, weighing compliance risks and
operational implications. Many global carriers had already curtailed direct
calls to Russian ports, opting instead for trans-shipment via third countries.
The proposed
ban underscores the continuing fragmentation of global trade networks, as
geopolitical considerations reshape shipping routes and partnerships. Market
participants expect further volatility in Eurasian logistics as policy
developments unfold.
Missile Hits Container
Ship as CMA CGM Vessel Narrowly Clears Hormuz
A container
vessel was struck by a missile near the strategic Strait of Hormuz shortly
after a ship operated by CMA CGM successfully transited the region,
underscoring escalating risks to commercial shipping.
According to
maritime security reports, the targeted “box ship” sustained damage following
the தாக்க, though
details on casualties and the extent of impact remain unclear. The incident
occurred amid heightened tensions in the Gulf, where multiple vessels have
faced threats in recent days.
The CMA CGM
vessel had reportedly passed through the strait just hours earlier, avoiding
any direct confrontation. Its safe passage briefly raised hopes of easing risks
for shipping lines navigating one of the world’s busiest oil and cargo
corridors.
However, the
missile strike highlights the fragile security environment in the region, with
shipping companies now re-assessing transit plans and safety protocols.
Insurers are expected to raise war risk premiums, while some operators may opt
for route diversions despite longer transit times and higher fuel costs.
The Strait
of Hormuz remains a critical artery for global energy and trade flows, handling
a significant share of the world’s oil shipments. Any disruption in the
corridor has immediate ripple effects on freight markets, energy prices and
supply chains.
Authorities
and naval forces in the region are monitoring the situation closely, as
industry stakeholders call for enhanced security measures to safeguard merchant
shipping. The incident is likely to further heighten caution among carriers
operating in the Gulf, even as efforts continue to stabilize the region.
Non-Operating
Shipowners Eye Modern Container Fleet Expansion
Non-operating
shipowners (NOOs) are increasingly returning to the container shipping market,
signaling renewed confidence in modern box ship investments amid evolving fleet
requirements and long-term demand expectations.
Industry
players report a growing appetite among leasing firms and tonnage providers to
acquire next-generation container vessels, particularly those with
fuel-efficient designs and lower emissions profiles.
These ships
are seen as better aligned with tightening environmental regulations and
charterers’ preference for sustainable operations. Unlike traditional liner
operators, NOOs do not run shipping services themselves but lease vessels to
major carriers.
Their
renewed interest is being driven by expectations of stable charter returns and
a gradual tightening of vessel supply as older ships face phase-out pressures.
Market
analysts note that demand is particularly strong for mid-sized and larger
vessels equipped with dual-fuel capabilities or energy saving technologies.
Such assets are expected to remain competitive over the long term as the
industry transitions towards greener shipping solutions.
The trend
also reflects a shift in investment strategies, with institutional investors
and ship leasing firms seeking exposure to maritime assets that offer
relatively predictable income streams. Improved sentiment in global trade and
container volumes are further supporting this outlook.
However,
stakeholders remain cautious about potential market volatility including
geopolitical risks, freight rates fluctuation and shipyard capacity
constraints. Despite these uncertainties, the renewed push by NOOs into modern
tonnage suggests a positive medium to long term outlook for the container
shipping sector.
HMM’s Busan Relocation
Plan Sparks Strong Reactions
South
Korea’s flagship carrier HMM is facing mounting reactions from industry
stakeholders and employees following reports of a potential plan to shift key
operations to Busan.
The proposed
move, which is believed to involve relocating certain headquarters or
operational functions, has triggered concerns among staff and local authorities
in Seoul, where the company currently maintains a significant presence.
Employees
have reportedly raised issues over job security, relocation challenges, and the
broader impact on corporate structure. Busan, home to the country’s largest
port, is widely regarded as South Korea’s maritime hub, making it a strategic
location for shipping companies.
Industry
observers note that consolidating operations closer to port infrastructure
could enhance efficiency, streamline decision making and improve coordination
with logistics partners.
However, the
potential shift has also sparked debate over regional economic implications
with Seoul stakeholders concerned about the loss of business activity and
employment opportunities. Labour grups are said to be seeking clarity from
management regarding the scope and timeline of the proposed changes.
While HMM
has not officially confirmed detailed plans, the development underscores the
balancing act between operational efficiency and workforce considerations.
Analysts say any final decision will likely weigh strategic advantages against
internal and political sensitivities.
The
situation continues to evolve with industry participants closely watching how one of Asia’s leading
container carriers navigates the transition amid broader shifts in global
shipping dynamics.
CK Hutchison’s PPC
Launches Legal Action Against Maersk
Panama Ports
Company (PPC), a subsidiary of Hong Kong-based CK Hutchison, has initiated
arbitration proceedings against Danish shipping giant A.P. Moller-Maersk
following the controversial takeover of key port terminals in Panama.
The legal action stems from the recent removal of PPC from operating the Balboa and Cristóbal ports, located at either end of the strategic Panama Canal.
PPC alleges
that Maersk breached a long-standing contractual agreement by aligning with the
Panamanian government in a move that led to PPC’s displacement and the
installation of new operators linked to Maersk.
According to
PPC, the agreement required exclusive use of its terminal infrastructure and
access to its operational systems. The company claims that Maersk’s actions
undermined this arrangement and facilitated a state-led campaign to replace
PPC’s operations.
The dispute
follows a ruling by Panama’s Supreme Court earlier this year, which invalidated
the legal framework underpinning PPC’s concession to operate the ports.
Subsequently, Panamanian authorities assumed control of the terminals and
awarded temporary operating rights to subsidiaries of Maersk and MSC.
PPC has
stated that the arbitration-set to take place in London-is separate from its
ongoing legal proceedings against the Panamanian government, where it is
seeking damages exceeding USD 2 billion over what it describes as an unlawful
takeover.
The case adds another layer of complexity to an already high-profile dispute involving global port assets, geopolitical tensions and the future ownership of key infrastructure along one of the world’s busiest maritime trade routes.
Mammoth
receives FAA STC certification for 777-200 freighter conversion
Mammoth Freighters has received Supplemental
Type Certification (STC) from the Federal Aviation Administration (FAA) for its
777-200LRMF (Long Range Mammoth Freighter) freighter conversion. With
certification complete, Mammoth is in a position to begin aircraft deliveries
to launch customer Qatar Airways Cargo, which has an agreement for five of the
aircraft with Texas-based lessor, Jetran.
Mammoth confirmed to Air Cargo News
(ACN) that the aircraft is currently being painted in Qatar’s livery
and therefore the precise delivery date is yet to be announced.
FAA certification validates the aircraft’s
design, engineering, and performance, clearing the 777-200LRMF for commercial
service. The platform delivers a compelling combination of long-range
capability, payload efficiency, and operational reliability, positioning it as
a highly versatile solution for global cargo networks.
“This certification reflects years of
disciplined engineering, close collaboration with the FAA, and the dedication
of our entire team and partners,” said Bill Tarpley, chief executive of Mammoth
Freighters. “Approval of the 777-200LRMF underscores the strength of our
technical approach and our ability to deliver a high-performance freighter that
meets the evolving demands of cargo operators worldwide.”
“As the launch customer for the 777-200LRMF,
this milestone marks an important moment for both Mammoth Freighters and
Jetran,” said Jordan Jaffe, chief executive, Jetran.
“From the outset, we have had strong
confidence in the Mammoth engineering team and their vision for the program.
The aircraft’s quality and technical execution have met our high expectations
and reflect the strength of the underlying design. “We believe the Mammoth
conversion will be a competitive and compelling option in the long-haul
freighter market and will deliver solid value for Jetran’s customers including
DHL, Qatar Airways and Ethiopian Airlines.”
Securing the STC certification is a major
milestone for Mammoth, which has faced a long wait for confirmation from the
FAA.
The Fort Worth, Texas-based company initially
anticipated a faster STC process after completing a test
flight of the 777-200LRMF prototype in May 2025. Qatar Airways Cargo
had expected to receive the first and second aircraft during the fourth
quarter, but the 43-day US government shutdown in October-November last year
delayed matters.
Mammoth said in December that FAA-witnessed
final test flights would be carried out in early January. The company then told ACN in
early February that it had secured Type Inspection Authorization (TIA)
and expected
the STC in the same month.
Key features of the 777-200LRMF include the
largest main-deck cargo door in its class, a reinforced floor structure, and an
advanced, flexible cargo handling system. Combined with its long-range
performance and fuel efficiency, the aircraft is optimized for both long-haul
and regional freight operations.
The company continues to make progress on its
777-300ERMF program and expects FAA certification of that variant later this
year.
Airfreight
recovery could take months after US-Iran ceasefire
The ceasefire between the US and Iran is
likely to provide some relief to airfreight but a full recovery of capacity
could take months, according to data firm Xeneta.
Following the announcement of the two-week
ceasefire announced on Tuesday, Xeneta said that it could take a while for
rates and jet fuel prices to reach pre-conflict levels, while airlines will
take a while to reset operations and airspace restrictions remain in place.
Meanwhile, shippers will be cautious about
switching operations back through the Middle East given the precarious nature
of the ceasefire.
Niall van de Wouw, Xeneta chief airfreight
officer, said: “This has been a supply issue from the start. The moment
airlines start increasing flights through Middle East airspace, it will put
less pressure on the existing capacity and create downward pressure on rates.”
He added: “Even when it is deemed safe to
fly, setting up the infrastructure again takes time. Customers need to find you
again and trust you again. Insurance companies may still advise against
transiting these Middle East hubs despite the ceasefire.”
According to figures from Xeneta, airfreight
rates on the main trades affected by the conflict had remained high.
Spot rates on the South Asia to Europe
corridor are up 105% year on year, while from Europe to the Middle East they
are up 87%, from South Asia to the Middle East 84%, from South Asia to North
America they are up 82% and from Southeast Asia to Europe they are 72% ahead.
“Carriers will be in no rush to lower rates
given the ceasefire is only temporary and the geopolitical situation remains
uncertain,” said van de Wouw.
“Shippers will also not rush into major
routing decisions on the basis of a fragile two-week ceasefire, especially
given Iran’s re-closure of the Hormuz Strait a matter of hours after the
agreement was announced.
“Regardless, a two-week timeline is too short
to justify restructuring freight plans – so I do not expect spot rates to go
down as fast as they went up.”
Jetfuel prices are also likely to take time
to reset.
Van de Wouw added that bellyhold operations
could also be affected, as passenger confidence will take time to recover.
“Gulf carriers such as Emirates and Qatar
Airways operate some of the world’s most important airfreight networks, but
those networks depend on passenger revenue.
“If tourist confidence in Middle East
destinations takes time to recover — even after the ceasefire — airlines may
operate routes at below-sustainable passenger load factors and could cut
network capacity as a result. “Will
airlines operate those routes or cut their networks based on demand? This is a
key variable for the short-term recovery for airfreight.”
Last week, Xeneta reported that global air cargo demand fell 3% year-on-year in March,
while capacity supply was 6% lower than in March 2025.
Meanwhile, dynamic load factor – Xeneta’s
measurement of capacity utilisation based on volume and weight of cargo flown
alongside available capacity – rose to 65%.
Rates
remain elevated and return to normal not expected soon
Airfreight rates have risen again as jet fuel
remains elevated and TAC Index reports a return to normal is not expected
anytime soon.
The global Baltic Air Freight Index (BAI00),
calculated by TAC, increased 5.1% over the week to 6 April, leaving it up 15.8%
year on year.
“With the price of jet fuel remaining
elevated, and supply now scarce in some locations, sources do not anticipate a
return to normal conditions any time soon – even if there is a swift resolution
to the conflict in the Gulf,” said TAC Index.
Rates on the busiest lanes out of China,
to Europe and the US, were up almost 30% year on year in both directions.
The index of outbound routes from Hong Kong
(BAI30) was up 8.6% week on week and 13.4% year on year.
Outbound Shanghai (BAI80) gained 6.4% week on
week and 21.3% year on year.
There were also significant week-on-week
gains on lanes out of Southeast Asia from Bangkok as well as from Vietnam,
noted TAC Index.
Rates from North Asia were more flat or lower
week on week on lanes from Seoul and from Taiwan, though still up year on year,
particularly on lanes to Europe.
Meanwhile, BAI Spot rates have surged,
particularly on lanes out of India, since the Middle East conflict began.
Therefore, there was no surprise the indices
of overall rates from India also continued to rise week on week both to Europe
and the US, remarked TAC Index.
After recent gains, rates
from Europe were more mixed last week – with further gains on
Transatlantic lanes to the US as well as to Japan, Brazil, South Africa and the
UAE (though based on much lower than usual volumes) offset by declines to China,
India, Mexico and Australia.
The index of outbound routes from Frankfurt
(BAI20) dipped 2.1% week on week, though it is ahead 6.1% year on year.
Outbound London Heathrow (BAI40) also dipped
slightly by 0.3% week on week, though after strong gains in recent months
remains up by around 48.8% year on year.
From the US, rate patterns were also mixed –
with modest falls on lanes to Europe and to China, but gains to South America
as well as to the UK and South Korea. The often volatile index of outbound
routes from Chicago (BAI50) had a quieter week, gaining 1.9% to leave it
narrowly down 0.4% year on year.
Rates from Mexico to Europe jumped again week
on week to leave them well up year on year.
Cathay
Cargo upgrades booking systems for customer modifications
Cathay Cargo has upgraded its online system
to allow freight forwarders to modify their cargo bookings.
The airline’s Manage Booking upgrade gives
freight forwarders control over booking modifications to allow customers to
make changes quickly after bookings are confirmed, without relying on phone
calls, manual workflows, or waiting for follow-up during office hours.
This is a long-standing industry challenge,
according to the airline. Changes that can now be made by the forwarder include
the updating of shipper or consignee information, flight and date adjustments,
and shipment size modifications.
“More complex requests continue to be
supported by Cathay Cargo’s specialists, ensuring forwarders have the right
level of support for every scenario,” the airline said. “The launch represents
a significant step forward in Cathay Cargo’s commitment to customer-centric
digitalisation.
Workflow-driven improvements designed around forwarder needs.”
Elsewhere, users can view real-time updates
on a single dashboard, allowing them to track the status of bookings from all
booking channels; before confirming any changes, users gain full visibility
into how proposed updates will affect booking status and associated costs.
There are also activity tracking and
automated notifications, where users gain a complete audit trail of
modifications, complemented by automated email notifications.
Dominic Perret, director of cargo, Cathay,
said: “As the air cargo industry evolves, we are committed to leading that
transformation by keeping our customers at the centre of every innovation. “Digital
solutions like Manage Booking are about making it easier for freight forwarders
to work with us, giving them the control and transparency they need to operate
with confidence.”
The airline has been investing in its digital
capability in recent years. In 2025, Cathay Cargo pioneered the use of real-time customs clearance updates for
customers with ONE Record API links or those using its EzyCargo platform. The
airline said it was the first to introduce real-time clearance, which gives
users customs status updates from authorities, including Europe (ICS2 Import
Control System), the US, Canada and UAE.
Air
Bonanza leases three freighters
African charter service provider Air Bonanza
Express has leased two IL-76 freighters and one Boeing 757-200 freighter. Air
Bonanza, based at Jomo Kenyatta International (NBO), said the three cargo
aircraft will be used for intra-Africa and Africa-Asia flights.
“One IL-76 is being dedicated for oversized
cargo on Mumbai- Africa route through a local partnership in Mumbai,” said
Boniface Kimani, chief executive. “The
second IL-76 is beimg relocated to serve the East Africa & South African
market with regular flights between DRC Congo, Tanzania, Pretoria and Djibouti.
“The B757-200F will be joining us at the end
of June to cater for regional standard cargo within Africa and the Middle
East.” Air Bonanza Express stated that
its fleet investments were made possible by its Dubai-based financiers. Air
Bonanza Express previously offered capacity on a IL-76 aircraft, which was
returned to the lessor in January, and a Mi-26T heavy transport helicopter.
Air Bonanza Express has traditionally worked
with UN agencies, various Ministry of Defence (MODs) departments in Africa,
freight forwarders, logistics companies, air charter brokers and companies
within the oil and gas sector.
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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