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  April 24,  2026

Today’s Exchange Rates

CURRENCY▲	PRICE	CHANGE	%CHANGE	OPEN	PREV.CLOSE
USD/INR	94.0925	0.292496	0.311829	94.00	93.80
EUR/USD	1.1695	-0.001	-0.085438	1.1705	1.1705
GBP/INR	127.038	0.214005	0.168741	126.7688	126.824
EUR/INR	110.1103	-0.082703	-0.075053	109.958	110.193
USD/JPY	159.712	0.23201	0.145479	159.48	159.48
GBP/USD	1.3501	-0.0001	-0.007408	1.3502	1.3502
JPY/INR	0.5894	0.0007	0.118906	0.5881	0.5887

///                   Sea Cargo News            ///

Cosco launches North Africa Express

COSCO Shipping Lines has introduced a new North Africa Express (NAX) service connecting key ports in China with Libya, expanding its presence in the region.

The service operates with a frequency of one sailing every three weeks and is deployed with 3 x 80,000 dwt vessels, equivalent to approximately 4,300 TEUs. These box shaped general cargo and bulk carriers are owned by Cosco Shipping Development and operated by Cosco Shipping Bulk.

The rotation of the NAX service includes Ningbo, Shanghai, Nansha, Port Said, Benghazi, Misurata and returns to Qingdao.

With this new offering, COSCO aims to strengthen trade links between the Far East and North Africa, providing additional capacity and supporting cargo flows to and from the Libyan market.

UAFL adds Sohar call to Middle East Express service

United Africa Feeder Lines is expanding its Middle East Express (MEX) service with the addition of Sohar to its rotation, enhancing connectivity across the Middle East, Indian Subcontinent and East Africa, reported by Dynaliners.

The MEX service currently links key ports in India and Pakistan with destinations including the Seychelles, Comoros and Mozambique. With the inclusion of Sohar, the service will offer broader regional coverage and improved routing options.

The service operates with two vessels of approximately 1,800 TEU capacity on a 21 day schedule.

Under the revised rotation, the MEX service will call at Nhava Sheva, Mundra, Karachi, Sohar, Mutsamudu, Nacala and return to Nhava Sheva.

The update is expected to strengthen regional connectivity and provide more efficient shipping solutions across the Indian Ocean trade lanes.

HIP received first LPG vessel of 2026, discharges 7,000 MT

Hambantota International Port (HIP) received the LPG vessel ANDOVER on April 04. The vessel discharged about 7,000 metric tonnes of liquefied petroleum gas for laugfs Gas. This shipment marks the port’s first gas delivery of 2026. It can supply around 570,000 households.

The tanker arrived from Argentina. It carried the first gas consignment handled by HIP since December last year. The shipment reinforces the port’s role in supporting Sri Lanka’s household energy supply chain.

HIP carried out the discharge operation efficiently. Teams ensured the cargo moved quickly into the domestic distribution network.

Yongzhuang Li, General Manager of HIPG’s ENS Department, commented on the operation. He said the arrival of ANDOVER shows the port’s readiness to handle key cargo flows. He added that HIP can manage vital energy supplies efficiently while supporting national demand.

He also highlighted the port’s strategic location. HIP lies just 10 nautical miles from the main East-West shipping lane. This position helps ensure smooth and reliable supply chain operations.

US pressure intensifies against Sea Lead Shipping

The U.S. government has significantly escalated its legal and regulatory actions against Singapore based container line Sea Lead Shipping, alleging that the company served as a critical component in a sophisticated sanctions-evasion network tied to Iran.

Foundation of the Allegations : The “Shamkhani Network”.

U.S. authorities allege that Sea Lead is an integral part of an illicit oil distribution architecture managed by Mohammed Hossein Shamkhani- the son of Ali Shamkhani, a top political advisor to Iran’s Supreme Leader.

Current Status :   The current civil forfeiture action seeks to seize funds that the DOJ argues were intended to promote ongoing violations of U.S. sanctions imposed under the International Economic Emergency Powers Act (IEEPA). By targeting these financial flows, U.S. authorities aim to dismantle the logistics infrastructure that has historically enabled the movement of Iranian oil.

Sea Lead has previously emphasized its commitment to regulatory compliance and stated that its vessels and ownership structures are subject to robust due diligence processes. However, the company is now facing the dual impact of international conflict in the Persian Gulf and mounting U.S. legal charges, leading to a major retrenchment of its business activities.

GT Lines adds second China – Khor Fakkan service

GT Lines, part of GUlftainer, is expanding its network with the introduction of a second service linking China and Khor Fakkan, according to Dynaliners.

The new service, named KCX2, will complement the existing KCX1 connection and will operate on a weekly basis, offering increased capacity and improved frequency on the trade lane.

The KCX1 service will continue to operate on its current rotation, calling at Nansha, Shanghai, Qingdao, Nansha, Khor Fakkan and returning to Nansha.

The newly introduced KCX2 service will follow a different routing, covering Qingdao, Shanghai, Ningbo, Shenzhen (Dachan Bay), Nansha, Port Kelang and Khor Fakkan then returning to Shanghai.

With the addition of KCX2, GT Lines aims to strengthen connectivity between China and the Middle East, providing more flexible and frequent shipping options for customers operating on this corridor. 

///                   Air Cargo News            ///

Etihad makes travelling with pets even easier

Etihad Airways has introduced a special promotional offer for our Pets Onboard service, making it even easier for guests to travel with their cats and dogs in the cabin.

From now until 31 May 2026, guests who book and travel using the Pets Onboard service can enjoy a special fare of USD 399 per flight segment. This offer enhances accessibility for pet travel while maintaining the care, comfort and safety that define the Etihad experience.

Etihad remains the only airline in the UAE offering guests the option to travel with their pets in the cabin, meeting growing demand for this personalised service.

For more information and booking details, visit Etihad Hub.

Strikes, scarcity, and safety issues

At the end of last year, experts were predicting air cargo growth rates of between 2% and 3% for 2026. Yet, the year actually began on a high, greatly exceeding those forecasts: IATA reported that JAN26 saw +5.6% year-on-year growth, after which FEB26 surged to +11.2%. It looked as though forecasts might need to be positively revised.

Then came 28FEB26… And the revision is now likely to be negative, since the immediate impacts were an unprecedented fuel crisis, capacity shortages, and greatly inflated rates. For some regions, these challenges are exacerbated by additional obstacles such as strikes and movement restrictions for reasons of safety.

The U.S.-Israeli strikes on Iran and the subsequent Strait of Hormuz disruption have fundamentally altered the air cargo scene for the next few months. Traffic through the Middle East has suffered from retaliation measures leading to temporarily closed air spaces, capacity squeezes and severe rate volatility as crucial Gulf transit hubs are bypassed. And jet fuel costs have also exploded in the unforeseen scenario.

        Fuel reserves for just six weeks in some European countries. Image:                        Canva/https://www.pexels.com/@martijn-stoof-2150654344/

An unparalleled fuel crisis
The root of the problem lies in the Strait of Hormuz. The waterway, through which 20–25% of the world’s oil supply previously flowed freely, has been effectively closed since the attack on Iran on 28FEB26. The consequences for aviation fuel were immediately and severely felt.

According to IATA, jet fuel prices surged 103% month-over-month as of MAR26, while in the U.S. alone, the price per gallon nearly doubled. CNBC reported an increase in price from USD 2.50 on 27FEB26 to USD 4.88 by 02APR26. While on 15APR26, the International Energy Agency (IEA)’s Executive Director, Fatih Birol warned that Europe now has “maybe six weeks of jet fuel left,” characterizing it as potentially the most significant energy crisis the world has ever encountered.

Reuters recently published a list of airlines that have largely halted their operations to the Gulf and Israel over the next weeks and months – in some cases even up to SEP26. The general feeling is that the war on Iran will not be over soon, no matter the current ceasefire at the time of writing.

Capacity shortages
The long list of passenger flight cancellations impacts air cargo, too, since belly capacity is removed from the market. All airlines are also reevaluating their route offers to absorb the impact of rising fuel costs. Cathay Pacific recently announced a 2% capacity reduction from mid-MAY26 through to JUN26, entirely suspending certain Middle East routes.

United Airlines, Air India, Air New Zealand, and Vietnam Airlines have followed suit with similar cuts to frequencies and services. Over in Europe, carriers are drawing up contingency plans that include grounding older, less fuel-efficient freighters and reallocating fleets – with some preparing to reduce total capacity by up to 5% if conditions deteriorate through to JUN26.

Lufthansa: strikes and shutdown
Perhaps the most dramatic European casualty of the fuel crisis to date, is Lufthansa Group’s CityLine. On 16APR26, Lufthansa Group announced the immediate and permanent shutdown of the regional carrier – a move that had originally been planned for 2028, but was accelerated by soaring kerosene costs and relentless labour disputes (6 consecutive days in APR26 alone, with up to 90% of the airline’s flights out of Frankfurt and Munich being cancelled on peak days). All 27 CRJ regional jets were then grounded on 18APR26.

O’Hare: service failures lead to movement cap
While Europe and the Middle East grapple with fuel and airspace disruptions, Chicago O’Hare International Airport – the U.S.’ second-most significant cargo hub in terms of trade value – has become a case study in compounding ground-level failures.

Since Good Friday, 03APR26, the airport has seen major flight delays over twelve consecutive days – for a number of reasons ranging from weather, to Lufthansa’s strike, to short-staffing. On 17APR26, alone, it counted 972 flight disruptions (cancellations and delays). The previous day, a United Airlines aircraft struck another United plane, which triggered an emergency order from the FAA to cap daily operations to a total of 2,708 flights instead of the 3,080 operations on peak summer days.

The restriction will be in place from 17MAY26 to 24OCT26. “Our number one priority is the safety of the flying public, and that means ensuring airline schedules reflect what the system can safely handle,” FAA Administrator, Bryan Bedford, explained. “We appreciate the airlines working together with us to reach a responsible level of operations that strengthens safety and delivers a more reliable travel experience for the American public.”

The FAA is also working on recruiting more air traffic controllers, and optimizing the routes and airspace around the airport to reduce delays  The air cargo industry is known for its resilience and adaptability, but right now it is vulnerable under the weight of challenges it, for the most part, cannot really influence.

Germany: The aviation cash cow in crisis

For years, German governments – whether led by Conservatives or Social Democrats – have viewed aviation as a cash cow. Whenever the government needed money – and when doesn’t it? – it simply raised taxes or fees. The result, after many years of doing this, is that the once high-yield cow has now stopped producing milk – figuratively speaking.

This decline is evident when looking at the traffic figures. In 2025, for example, around 207.2 million passengers took off from or landed at German airports. This represents a 3.9% increase compared to 2024, but remains 8.6% below the pre-COVID level of 2019.

The reasons for this trend include not only the multiple increases in air traffic management fees, security taxes and environmental compliance fees, but also the shift toward rail travel. In combination, this has led to a reduction in revenues for airlines and airports, at the same time as costs continue to increase due to higher wages or additional energy expenditures, for example.

                              Michael Hoppe, BARIG, photo: CFG/hs

Air traffic tax reduction – just a drop in the ocean
As far as air traffic taxes are concerned, prima facie, at least the spiral’s upward trend will be halted come 01JUL26. This was decided by the Berlin government after years of fierce debates between politics and industry. However, the cost level will only be frozen, not lowered. In contrast, airlines are demanding additional mitigation measures to remove the financial pressure on the industry and make flying affordable again for operators and their customers.

In addition to internal financial woes, the situation is currently being exacerbated by the blockade of the Strait of Hormuz, causing kerosene prices to skyrocket. While Lufthansa, Austrian Airlines, Swiss, and Brussels Airlines have little influence on global pricing structures, their national governments could implement cost-cutting measures to help the industry weather the current storm to a certain degree. They have not done this, so far.

Hormuz crisis ups cost pressure
According to Michael Hoppe, Chairman and Executive Director of the Board of Airlines Representatives in Germany (BARIG), it is about time that the Berlin government relieves the aviation industry of the major cost burden that has been holding it back for years: “In view of the current geopolitical challenges, which have a significant impact on air travel in particular, the massive problem of far too high state-imposed costs in Germany remains.

These costs have not only slowed down growth but have also resulted in traffic being shifted to other European countries for years. Capacity for passenger and cargo traffic remains under pressure. Connectivity is severely impacted, and so is Germany’s highly export-oriented economy.” BARIG admits in a release that the Berlin politician’s decision to lower the air traffic tax as of 01JUL26, is a step in the right direction – but one that is far too small, it criticizes.

The announced reduction does not even bring the tax back to the level prior to the last increase in 2024, as promised in an agreement signed a year ago by the ruling parties: Conservatives and Social Democrats.

                    Ralph Beisel, Airport Association ADV, courtesy of ADV

€4,531 versus €2,326
Similarly, the German Airports Association (ADV) is also exerting pressure on the government to cut costs in aviation, as its helmsman, Ralph Beisel explains:
“The decision to adjust the air traffic tax was long overdue, but falls short of our expectations because the reduction is lower than promised. The newly set tax rate of €13.03 is 55 cents higher than the actual tax rate from 2024 (€12.48). The resolution of the coalition committee, from last November, had announced the complete reversal of the most recent increase in the air traffic tax.

This is particularly disappointing for airlines that wish to fly to a German airport from abroad. Against this backdrop, non-European airlines will be considering whether they should include an airport in Germany in their network.”

Beisel illustrates: An aircraft taking off from a German airport is charged €4,531 (average government fees); in other European countries, the regulatory fee for a pan-European flight averages €2,326.

Politicians must take further action
Efficient airports – whether large or small – ensure the international connectivity of cities and a country’s economy. “If government taxes are reduced, it benefits not only the aviation industry, but also enterprises, tourism and the entire transport sector, states ADV in a release.

Ralph Beisel concludes his remarks by addressing the Berlin government directly, asking it to take further actions: “The planned tax cut is a necessary and appropriate step. But further reductions, for example in air traffic control or aviation security fees, must follow.”

Lufthansa Cargo A321Fs grounded due to CityLine cuts

                                    Image: © Lufthansa Cargo

Lufthansa Cargo’s fleet of four Airbus A321 freighters has been temporarily grounded as a result of cuts made to sister airline Lufthansa CityLine that had been operating the aircraft.

Yesterday, the German aviation giant announced that it would immediately remove Lufthansa CityLine’s 27 operational aircraft as part of measures aimed at tackling rising costs and labour disruption impacting its German operations.

Lufthansa Cargo confirmed to Air Cargo News that the move would also result in its four Airbus A321 freighters that are operated by CityLine being grounded while a solution is found.

“Our strategic European network is a key component in maintaining global supply chains. Lufthansa Cargo and the Lufthansa Group are aware of this responsibility,” the cargo business said in a statement.

“We will now be working with the Lufthansa Group to find a way to offer this cargo capacity to our customers again as soon as possible.”

The decision to ground the CityLine fleet was part of a series of measures announced yesterday by Lufthansa in view of increased kerosene prices, which it said had more than doubled compared to the period before the Iran war, as well as rising additional burdens from labour disputes.

The measures will also see the group remove four Airbus A340-600s and two Boeing 747-400 from its fleet in October. There will also be a further consolidation of short- and medium-haul traffic across six hubs of the Lufthansa Group.

Lufthansa Group chief financial officer Till Streichert said: “The package for accelerated implementation of fleet and capacity measures is unavoidable in light of the sharply increased kerosene costs and geopolitical instability.

“We had already identified the prospective removal of CityLine from our programme as part of our strategic development for some time, independently of the current geopolitical crisis.

“The current crisis is now forcing us to implement this measure earlier. This is a painful step, particularly with regard to the colleagues at Lufthansa CityLine.

MASkargo and Teleport team up on Southeast Asia cargo

                        Image: © Suparat Chairatprasert / Shutterstock.com

MASkargo and Teleport are teaming up on Southeast Asia air cargo operations in response to growing demand in the region.

The partnership will see Kuala Lumpur-hubbed carrier MASkargo gain access to dedicated freighter capacity operated by Teleport on selected intra-Southeast Asia routes, including services between Kuala Lumpur and Phnom Penh.

“This enhances access to important cargo gateways and enables more efficient movement of goods within Southeast Asia, including high-growth markets such as Cambodia,” MASkargo said in a press release.

The Malaysia Airlines cargo business said that the partnership comes amid sustained growth in intra-Southeast Asia trade driven by increasing demand across e-commerce, perishables, and general cargo segments.

The partnership will enhance transit times, flexibility, and routing options for customers, the cargo division added.

Mohd Nadziruddin Mohd Basri, chief executive of aviation services from Malaysia Aviation Group, said: “This collaboration reflects MASkargo’s continued focus on strengthening our regional network and enhancing connectivity across Southeast Asia.

“By working together with Teleport, we are able to expand our capacity with greater flexibility and better align our network with evolving market demand, while maintaining the high standards of reliability and service our customers expect.

“Against a backdrop of sustained industry growth, with global air cargo demand rising by over 11% year on year in February, this partnership positions us well to capture emerging opportunities and support growing trade flows across the region, particularly as supply chains continue to adapt and shift towards resilient regional corridors.”

Jan Philipp Pöter, chief business officer of Teleport, said: “We are pleased to support MASkargo by quickly activating the Kuala Lumpur – Phnom Penh – Kuala Lumpur sector with the deployment of our Airbus A321F, to connect MASkargo’s captured demand into their global network via Kuala Lumpur, unlocking stronger trade flows between Cambodia and international markets.

“This partnership with MASkargo reflects how The Teleport Network is built – flexible and demand-led.

“This partnership model allows global airlines that work with Teleport to quickly respond and navigate capacity and network deployment, enabling faster, more efficient growth.

“This is the beginning of a deeper collaboration between Teleport and MASkargo to mutually expand regional connectivity to capture more demand and strengthen market flows in the region, unlocking greater value from our combined networks.”

The last few months have seen Teleport – the logistics arm of AirAsia – sign several partnerships with airlines, most recently with Etihad Cargo and Central China Airlines.

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.