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

 

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

 

 

Corporate News Letter for  Thursday  April 16,  2026

Today’s Exchange Rates

CURRENCY▲	PRICE	CHANGE	%CHANGE	OPEN	PREV.CLOSE
USD/INR	93.38	0.010002	0.01071	93.17	93.39
EUR/USD	1.1816	0.002	0.169547	1.1796	1.1796
GBP/INR	126.6051	0.157906	0.124879	126.3932	126.4472
EUR/INR	110.0248	0.8937	0.818923	109.8433	109.1311
USD/JPY	158.454	-0.335999	-0.211599	158.79	158.79
GBP/USD	1.3587	0.002	0.147423	1.3567	1.3567
JPY/INR	0.5878	0.0014	0.238754	0.5875	0.5864

///                   Sea Cargo News            ///

Suez Canal Authority suspends 15% discount for large containerships

The Suez Canal Authority (SCA) has suspended the 15% discount on transit fees previously granted to large containerships. The suspension took effect from Tuesday April 14, 2026, according to a circular published on the SCA website on April 02, 2026.

The rebate first announced in May 2025, was introduced to encourage containerships that had been re-routed around the Cape of Good Hope to return to Suez Canal. It applied to vessels with a Suez Canal Net Tonnage of 130,000 Tons or more, whether laden or in ballast, transiting the Canal northbound or southbound. 

The discount required no application or document submission and was automatically applied during transit. With the suspension, large container ships will now pay the standard transit fees.

This change marks a shift in the SCA’s policy for incentivizing container traffic and reflects evolving operational and commercial considerations for the waterway.

DP World Faces Volume Pressure in Cochin as Vizhinjam Port Ramps Up

DP World is witnessing mounting pressure on transshipment volumes at its terminal in Cochin Port, as the rapid ramp-up of operations at Vizhinjam Port begins to reshape cargo flows along India’s southern coast.

Industry sources indicate that container transshipment volumes at Cochin have declined sharply in recent months, with a significant portion of mainline traffic shifting to Vizhinjam.

The newly operational deepwater port, with its natural draft and proximity to key international shipping lanes, is increasingly attracting large container vessels that previously called at Cochin.

Vizhinjam Port offers inherent advantages, including minimal deviation from major east–west trade routes, faster vessel turnaround, and the ability to handle ultra-large container ships. These factors have made it an appealing alternative for global shipping lines seeking efficiency and cost optimization.

 

Ownership Clause in New Shipping Law May Hit GIFT City Global Ambitions

A proposed ownership mandate in India’s new shipping law is raising concerns among industry stakeholders, who warn it could dampen the global ambitions of GIFT City as an emerging maritime and financial hub.

The clause, which is expected to require a higher degree of domestic ownership or control in shipping entities, may limit the ability of foreign investors and global shipping companies to establish operations within GIFT City.

Experts believe this could reduce the attractiveness of the centre, which has been positioning itself as a competitive offshore destination for ship leasing, financing, and maritime services.

GIFT City has been actively developing its International Financial Services Centre (IFSC) framework to attract global players with tax incentives, regulatory flexibility, and ease of doing business. The introduction of stricter ownership norms, however, may counter these advantages by creating entry barriers for international firms.

Industry participants have urged policy makers to strike a balance between safeguarding national interest and maintaining an open, investor friendly environment. They argue that overly restrictive provisions could push potential investors toward more established global hubs such as Singapore or Dubai.

While the government aims to strengthen oversight and promote domestic participation in the shipping sector, stakeholders caution that the long term success of GIFT City depends on its ability to integrate with

global markets and attract diverse capital flows.

As discussions around the new shipping law continue the final shape of the ownership clause will be closely watched for its potential impact on India’s aspirations to build a globally competitive maritime and financial ecosystem.

India Eases Norms for Select Vessels Carrying Iran Cargo

India has granted limited regulatory relaxations to select vessels carrying cargo from Iran, in a move aimed at securing critical energy supplies amid ongoing disruptions in West Asia.

According to sources, the waivers have been issued on a case-by-case basis, allowing certain ships—despite not fully meeting standard compliance norms such as age restrictions or sanctions-related limitations—to dock at Indian ports and discharge cargo.

The decision comes as India grapples with supply pressures, particularly in liquefied petroleum gas (LPG) and crude oil, driven by reduced shipping activity through the strategically vital Strait of Hormuz.

Vessel traffic through the route has dropped sharply due to regional tensions, creating delays and tightening availability of energy cargoes. In recent instances, select Iranian cargo vessels, including older tankers and those under sanctions, have been permitted to deliver shipments at

Indian ports to help bridge supply gaps. The government’s approach reflects a pragmatic shift prioritising domestic energy security over strict enforcement of maritime entry norms.

India Eases Norms for Select Vessels Carrying Iran Cargo

India has granted limited regulatory relaxations to select vessels carrying cargo from Iran, in a move aimed at securing critical energy supplies amid ongoing disruptions in West Asia. According to sources, the waivers have been issued on a case-by-case basis, allowing certain ships—despite not fully meeting standard compliance norms such as age restrictions or sanctions-related limitations—to dock at Indian ports and discharge cargo.

The decision comes as India grapples with supply pressures, particularly in liquefied petroleum gas (LPG) and crude oil, driven by reduced shipping activity through the strategically vital Strait of Hormuz. Vessel traffic through the route has dropped sharply due to regional tensions, creating delays and tightening availability of energy cargoes.

 

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.