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 May 22,
2026
Today’s
Exchange Rates
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CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
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96.33 |
-0.50 |
0.516369 |
96.30 |
96.83 |
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|
1.1632 |
0.0008 |
0.068824 |
1.1624 |
1.1624 |
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|
129.5349 |
0.065598 |
0.050615 |
129.3698 |
129.6005 |
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|
112.0561 |
0.158798 |
0.141513 |
111.9417 |
112.2149 |
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|
158.926 |
0.005997 |
0.003773 |
158.92 |
158.92 |
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|
1.3444 |
0.0009 |
0.066991 |
1.3435 |
1.3435 |
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0.6062 |
-0.0028 |
0.459778 |
0.6093 |
0.609 |
/// Sea Cargo News ///
India to prioritise releasing
stranded vessels in Hormuz, may resume tanker loading when conditions improve,
says official
As oil pressures continue to mount, India is prioritising the safe movement and release of its vessels currently stuck around the Strait of Hormuz amid tensions in West Asia that are disrupting global shipping routes, Reuters reported citing a Central government official on Thursday.
The official further said authorities are closely coordinating
with the Ministry of External Affairs before allowing Indian tankers to resume
cargo loading operations in the area.
Moreover, India will send vessels for loading through the
crucial Strait only when the security situation improves and conditions are
considered safe for commercial movement.
"Priority is to secure release of Indian vessels currently
stranded in Hormuz Strait. Will send vessels to Hormuz Strait for loading when
situation is conducive. In talks with foreign ministry to send tankers for
loading in Strait of Hormuz," said an official, the news agency reported.
The statement comes a day after Bloomberg News reported
that New Delhi is preparing to gradually restart energy shipments through the
one of the world’s most critical oil transit chokepoints.
People familiar with the matter told the news outlet that plans
to send vessels for loading crude cargoes from West Asian suppliers have
already been drawn up, with final clearances from the government awaited.
According to the report, state-run Shipping Corporation of India is understood
to be readying operations in the Persian Gulf once approvals are received from
the Indian Navy and commercial orders come in from refiners.
The Strait of Hormuz, which carries nearly a fifth of global oil supplies, has
witnessed severe disruptions since the Iran conflict escalated earlier this
year, sending crude prices sharply higher and rattling importing nations
including India, the world’s third-largest buyer of oil.
Iran plans new shipping mechanism in Hormuz
Iran, meanwhile, announced plans last week to introduce a new
maritime traffic management system in the Strait of Hormuz that would offer
preferential access to commercial vessels and countries cooperating with
Tehran.
Ebrahim Azizi, head of the Iranian parliament’s national security committee,
said Tehran had finalised a designated route management mechanism for traffic
moving through the strategic waterway and details would be announced soon,
Reuters had earlier reported.
According to the Iranian official, only commercial ships and countries
maintaining cooperation with Iran would be allowed to benefit from the proposed
arrangement.
He also said Tehran would levy “necessary fees” for specialised services
offered under the mechanism, while operators linked to what he described as the
“Freedom Project” would not be permitted access.
CMA CGM increases Asia –
Europe FAK rates for early June 2026
CMA CGM announced new Freight All Kinds (FAK) rates from Asia to
North Europe, the Mediterranean and North Africa for the first half of June
2026. The updated rates will apply from June 01 to 14, 2026 based on loading
date at origin ports.
For shipments from Asia to North Europe, CMA CGM set rates at
USD 2,900/- per 20Foot Container and USD 4,700/- per 40Ft GP, High Cube and
Reefer Container.
The North Europe coverage includes the UK and ports ranging from
Portugal to Finland and Estonia. The carrier said the rates apply to dry cargo,
out-of-gauge cargo, reefer containers and paying empties.
CMA CGM also announced higher FAK rates from Asia to
Mediterranean and North African destinations. Rates to West Mediterranean ports
will reach USD 4,000/- per TEU and USD 5,500/- per FEU.
East Mediterranean and Black Sea destinations will see freight
rates of USD 4,200/- per 20ft and USD 5,700/- per 40Ft Container. The highest
increase applies to Algeria, where rates will reach USD 5,700/- per 20Ft
Container and USD 8,100/- per 40Ft Container.
The highest increase applies to Algeria, where rates will reach
USD 5,700/- per 20Ft Container and USD 8,100/- per 40Ft Container. The updated
pricing covers dry cargo, reefer cargo, out of gauge shipments and paying empty
containers.
Iran establishes Persian Gulf
Strait Authority
The Islamic Republic of Iran has formally defined its regulatory
jurisdiction over the Strait of Hormuz and established the Persian Gulf Strait
Authority (PGSA) to oversee and manage transit through one of the world’s most
strategically critical waterways.
According to the PGSA, Iran has delineated the controlled
maritime zone as the area between the line connecting Kuh-e-Mubarak in Iran to
the South of Fujairah in the UAE at the
eastern entrance of the Strait, and the line connecting the tip of Qeshm Island
in Iran to Umm Al-Quwain in the UAE at the western entrance.
Under the new framework, any vessel transiting through this zone for the purpose of passing through the Strait of Hormuz is required to co-ordinate with and obtain authorisation from the Persian Gulf Strait Authority, prior to passage.
The move carries significant implications for global shipping,
as the Strait of Hormuz is the sole maritime passage between the Persian Gulf
and the Gulf of Oman, through which a substantial share of the world’s seaborne
oil and liquefied natural gas flows daily.
The announcement is expected to draw close attention from
shipowners, flag states and maritime authorities worldwide, as the requirement
for prior authorisation could introduce new operational and compliance
considerations for vessels on this route.
No further details have been issued at this stage regarding the
specific procedures for obtaining authorisation or the consequences of
non-compliance.
Hapag Lloyd Annual General
Meeting (AGM) approves all resolutions
Hapag Lloyd AG shareholders have approved all the agenda items
put to a vote at the Company’s Annual General Meeting (AGM), including the
appropriation of net profit and the payment of a dividend of EUR 3.00 per
share.
“2025 was a good year for Hapag Lloyd. We increased out
transport volumes well beyond market growth and achieved solid results despite
lower freight rates and higher operational costs. For this reason, we are very
pleased to be able to pay out a dividend once again to our share holders”.
“At the same time, we have vigorously pressed ahead with our
strategic agenda: with record levels of schedule reliability and customer
satisfaction, a further modernized fleet and the targeted expansion of our
Hanseatic Global Terminals Portfolio”, said Rolf Habben Jansen, CEO of Hapag
Lloyd.
Share holders also approved the election of Karl Gernandt and
Macario Valdes Raczynski to the supervisory board as shareholder
representatives. Gernandt is chairman of the board of directors of Kuhne
Holding AG and Managing Director of Kuhne Maritime Gmbh.
He has served on the supervisory board of Hapag Lloyd AG since
2009 and assumed its Chairmanship on February 26, 2026. Valdes Raczynski is
Chief Executive Officer of Quinenco S.A. and has been a supervisory board
member since February 13, 2026.
Canadian Port Traffic
Rises as US West Coast Imports Slow
Canada’s major ports are witnessing increased cargo activity as
import volumes at key US West Coast gateways continue to decline, creating new
opportunities for Canadian container terminals and logistics operators.
Industry analysts said shifting shipping patterns, supply chain
adjustments, and changing trade dynamics are driving more cargo toward Canadian
ports.
Major Canadian gateways including the Port of Vancouver and Port
of Prince Rupert have benefited from stronger container traffic as some
shippers diversify cargo routes away from congested or slower-moving US West
Coast terminals. The trend has been supported by efficient rail connectivity
and shorter transit options into North American inland markets.
US West Coast ports have faced softer import demand amid slower
retail inventory replenishment, weaker consumer spending and ongoing
adjust-ments in global supply chains. Industry observers noted that changing
sourcing strategies and shipping network realignments are also influencing
cargo distribution across North American gateways.
Canadian Ports have continued investing in terminal expansion,
automation and intermodal infrastructure to strengthen competitiveness and
attract larger shipping volumes. Enhanced rail links to major inland
destinations in Canada and the United States have further improved the appeal
of Canadian trade corridors for importers and logistics providers.
The cargo shift is also being influenced by efforts among to
diversify supply chain risks after previous disruptions linked to labour
negotiations, congestion and operational uncertainty at several US ports.
Shipping lines and cargo owners are increasingly seeking alternative gateways
that offer stable operations and reliable transit times.
Analysts said the stronger performance at Canadian ports
highlights the growing strategic importance of North American supply chain
diversification. Continued investments in port infrastructure and logistics
connectivity are expected to support long-term growth in Canadian cargo volumes
even as global trade conditions remain volatile.
Indian-Flagged Cargo
Dhow Sinks Off Oman After Suspected Drone or Missile Strike
An Indian-flagged wooden cargo vessel, identified as Haji Ali,
sank in Omani waters after catching fire in a suspected drone or missile
attack, amid escalating maritime security threats linked to the ongoing Iran
conflict.
According to India’s shipping ministry, the dhow was sailing
from Somalia to the United Arab Emirates when the incident occurred in the
early hours of Wednesday. A fire broke out onboard following the suspected
strike, eventually causing the vessel to sink.
All 14 crew members were rescued safely by the Omani coast guard
and taken to Diba port, the ministry said. British maritime risk management
firm Vanguard stated that the explosion was believed to have been caused by a
drone or missile strike. The vessel was reportedly carrying livestock cargo at
the time of the attack.
India condemned the incident, calling the targeting of
commercial shipping and civilian mariners “unacceptable”. “The attack on an Indian flagged ship off the
coast of Oman yesterday is unacceptable and we deplore the fact that commercial
shipping and civilian mariners continue to be targeted”, India’s Foreign
Ministry said in a statement.
The ministry further reiterated that attacks on commercial
vessels and disruptions to freedom of navigation must be avoided. Ship tracking
data from Marine Traffic showed that Haji Ali last reported its
position off the coast of Muscat on May 11.
The vessel is the second ship reported sunk in the region since
the Iran conflict began on February 28.The conflict has severely disrupted
maritime trade in the Gulf region, leaving hundreds of vessels stranded and
nearly 20,000 seafarers unable to transit through the Strait of Hormuz.
At least two other Indian-flagged vessels have reportedly come
under attack since the outbreak of the US-Israeli conflict with Iran. India had
earlier summoned the Iranian envoy to New Delhi to express “deep concern” over
the incidents.
The latest development comes as BRICS foreign ministers,
including Iran’s representative, convene in New Delhi amid growing concerns
over regional stability and maritime security in one of the world’s most
critical energy shipping corridors.
Chinese Regulators
Penalise 16 Shipping Firms for Freight-Rate Filing Issues
Chinese regulators have imposed penalties on 16 shipping and
logistics companies, including major global container carriers CMA CGM, MSC
Mediterranean Shipping Company, and Hapag-Lloyd, over violations related to
freight-rate filing requirements.
The action forms part of China’s broader efforts to strengthen
regulatory oversight in the maritime transport sector and improve compliance in
international shipping operations.
Authorities said the companies failed to properly file or update
freight tariff and pricing information in accordance with Chinese maritime
regulations governing international container shipping services. The penalties
reportedly cover procedural and documentation-related non-compliance linked to
freight rate declarations and service filings.
Industry analysts noted that China maintains strict reporting
requirements for international shipping companies operating in its market,
particularly regarding freight pricing transparency, tariff structures and
service terms. Regulators have increasingly intensified scrutiny of global
carriers following periods of sharp freight-rate volatility and supply chain
disruptions in recent years.
The fines come as container shipping markets continue to
experience fluctuating freight rates driven by geopolitical tensions, Red Sea
disruptions, changing trade flows and capacity adjustments by major carriers.
Chinese authorities are seeking to ensure fair competition and greater
transparency in shipping operations serving the country’s import-export trade.
Market observers said the regulatory action is unlikely to
significantly disrupt carrier operations but serves as a reminder of the
compliance obligations global shipping lines face in key international markets.
Major carriers continue to expand services in Asia while adapting to evolving
trade regulations and increasing government oversight.
China remains one of the world’s largest container shipping
markets and a critical hub for global manufacturing and exports. Shipping
companies operating in the country are subject to detailed regulatory
frameworks covering freight tariffs, vessel operations, cargo documentation and
maritime service standards.
Container Spot Rates Jump as Carriers Add Surcharges Before Peak Season
Global container spot freight rates are rising sharply as major shipping carriers introduce additional surcharges ahead of an early peak shipping season, increasing transportation costs for exporters and importers across key trade routes.
Industry analysts said stronger cargo demand, vessel capacity
constraints, and ongoing geopolitical disruptions are contributing to the
latest rate surge.
Leading container lines including MSC Mediterranean Shipping
Company, CMA CGM, Maersk, Hapag-Lloyd, and Evergreen Marine have announced a
range of peak season surcharges (PSS), bunker adjustment factors, and emergency
operational charges across Asia-Europe, Transpacific, Middle East, and
intra-Asia trade lanes.
Shipping industry sources said carriers are responding to rising
operational costs linked to longer voyage routes, higher fuel consumption and
vessel diversions caused by ongoing Red Sea and West Asia security concerns.
Continued disruptions around the Suez Canal region have forced many carriers to
re-route vessels around the Cape of Good Hope, significantly increasing transit
times and voyage expenses.
Spot freight rates on major east-west trade routes have climbed
steadily in recent weeks as shippers begin moving cargo earlier than usual to
avoid potential supply chain bottlenecks during the traditional peak shipping
period. Strong export demand from Asian manufacturing hubs, particularly China,
Vietnam and India, has further tightened vessel space availability.
Freight Forwarders and exporters said the rising surcharges are
adding pressure on logistics costs for sectors including electronics, textiles,
auto-motive components, chemicals, machinery and consumer goods. Importers in
Europe and North America are also accelerating inventory replenishment to
mitigate risks of delays and future rate increases.
Industry analysts expect freight market volatility to persist in
the coming months as carriers continue adjusting capacity deployment and
surcharge structures in response to geopolitical risks and fluctuating demand
patterns. Shipping companies are also closely monitoring fuel prices, port
congestion levels and container equipment availability across major global
trade corridors.
/// Air Cargo News ///
Riyadh Cargo Expands Commercial Operations in Egypt, India and UAE
Riyadh Air Cargo has expanded its commercial operations across Egypt, India, and the United Arab Emirates through the appointment of new General Sales and Service Agent (GSSA) partners, strengthening its regional cargo network and market presence.
The move is aimed at boosting cargo sales, customer reach, and operational support in key trade corridors linking the Middle East, South Asia, and Africa. The newly appointed GSSA partners will support Riyadh Cargo’s commercial activities, including cargo bookings, customer service, freight sales, and market development across the three strategic markets.
Industry experts said the expansion reflects growing demand for air cargo connectivity driven by e-commerce, pharmaceuticals, perishables, and industrial shipments.
India has emerged as a major focus market for Gulf-based cargo operators due to rising export volumes of pharmaceuticals, electronics, textiles, engineering goods and perishables.
Enhanced commercial representation in India is expected to improve access for freight forwarders and exporters seeking stronger connectivity to Middle Eastern and global destinations.
The UAE and Egypt also play critical roles in regional cargo flows, acting as major logistics and trans-shipment hubs connecting Asia, Africa and Europe. Riyadh Cargo’s expanded presence in these markets is expected to strengthen cargo consolidation capabilities and support faster cargo movement across regional trade routes.
Industry observers noted that airlines and cargo operators are increasingly using GSSA partnerships to expand market penetration while optimising operational costs. The strategy allows carriers to strengthen local customer relationships and improve service coverage without directly establishing large in-country commercial teams.
The expansion aligns with Saudi Arabia’s broader aviation and logistics development strategy, which aims to position the Kingdom as a major global cargo and supply chain hub under its Vision 2030 programme. Air cargo demand across the Gulf region continues to grow as trade diversification, manufactur- ing, investments and regional e-commerce activity accelerate.
Quito Airport Sees Surge in Flower Cargo Ahead of Mother’s Day
Quito Airport has recorded a significant surge in flower cargo volumes ahead of Mother’s Day, driven by strong international demand for Ecuadorian cut flowers, particularly roses and carnations.
Exporters said the seasonal spike remains one of the most important periods for the country’s floriculture industry. Industry participants noted that shipments increased in the days leading up to the festival, with key destinations including the United States and Europe, where Mother’s Day-related gifting drives a sharp rise in floral imports.
Air freight capacity was ramped up to handle the higher volumes, ensuring timely delivery of perishable cargo. Ecuador’s flower exports, heavily reliant on air logistics, typically see one of their strongest annual peaks during this period.
Exporters said coordinated efforts between growers, freight forwarders and airport operators helped manage the surge efficiently despite tight delivery windows and temperature sensitive handling requirements.
Logistics providers added that efficient cold-chain management and expanded cargo scheduling were critical in maintaining product quality, as the sector continues to rely on peak seasonal demand cycles to drive a substantial portion of its annual export revenue.
Qatar Cargo Expands Freighter Capacity Amid Rising Bellyhold Space
Qatar
Cargo has expanded its freighter capacity while also benefiting from increased
bellyhold space across passenger flights, strengthening its overall air freight
network amid growing global demand for cargo services.
Industry sources said the carrier has been optimizing its fleet deployment by adding dedicated freighter operations while simultaneously leveraging additional cargo capacity available in passenger aircraft.
The combined strategy has helped improve flexibility across key trade lanes and support demand for time-sensitive shipments.
The increase in belly-hold capacity comes as international passenger traffic continues to recover, enabling airlines to allocate more space for cargo in aircraft holds. This has provided additional uplift for Qatar Cargo, particularly on long-haul routes connecting Asia, Europe and the Americas.
Logistics analysts said the dual approach of freighter expansion and belly capacity utilization is helping carriers improve yield management and operational efficiency. It also allows greater resilience in the face of shifting demand patterns and supply chain volatility.
Frankfurt Airport Traffic Impacted by April Labour Strikes
Passenger and cargo traffic at Frankfurt Airport were significantly impacted in April due to six days of strike action that disrupted airport operations and affected flight schedules across one of Europe’s busiest aviation hubs.
Industry sources said the labour action led to delays, cancellations, and reduced handling capacity, affecting both passenger services and air freight movement. Cargo operators faced operational bottlenecks as handling activities and ground services were constrained during the strike period.
Frankfurt Airport plays a major role in global air cargo connectivity, particularly for pharmaceutical shipments, industrial goods, and express logistics moving between Europe, Asia, and North America. The disruptions created scheduling challenges for airlines and logistics providers relying on the hub for transit operations.
Aviation analysts noted that prolonged labour disruptions at major airports can have wider supply chain implications, especially for time-sensitive and high value cargo. Industry participants are closely monitoring labour negotiations to assess the potential impact of any future industrial action on regional aviation and freight networks.
DHL Courier Expands Air Network with Taiwan-Europe Direct Service
DHL Courier has launched a new direct flight service aimed at strengthening air cargo connectivity between Taiwan and Europe, supporting faster transit times and growing trade demand across the high-value manufacturing corridor.
The new route is expected to enhance shipment efficiency for sectors such as electronics, semiconductors, machinery, and e-commerce, which rely heavily on reliable express logistics services between Asia and European markets.
Industry sources said the direct connection will improve network flexibility and reduce delivery lead times. Taiwan remains a critical hub for global technology and semiconductor production, driving sustained demand for time-sensitive cargo transportation.
DHL Courier said the expanded air network capacity is intended to support customers seeking resilient and efficient cross border logistics solutions.
Logistics analysts noted that the move reflects broader growth in Asia-Europe air cargo demand, particularly for high-tech goods and express shipments, as supply chains continue to prioritize speed, reliability and diversified transport connectivity.
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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