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 29,
2026
Today’s Exchange Rates
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PRICE |
CHANGE |
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PREV.CLOSE |
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95.7125 |
0.022499 |
0.023512 |
95.75 |
95.69 |
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1.1645 |
0.0014 |
0.120367 |
1.1631 |
1.1631 |
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128.7363 |
0.284805 |
0.220743 |
128.8342 |
129.0211 |
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111.4862 |
0.079399 |
0.07127 |
111.4643 |
111.4068 |
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159.333 |
0.03299 |
0.020709 |
159.30 |
159.30 |
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1.345 |
0.0004 |
0.029754 |
1.3446 |
1.3446 |
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0.6009 |
0.0003 |
0.049948 |
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/// Sea Cargo News ///
FMC reaches settlement with
Maersk over detention charge practices
Federal Maritime Commission (FMC) of the USA has completed a
compromise agreement with Maersk involving civil penalties totalling USD 1.9
Million related to alleged violations of the US Shipping Act.
According to the FMC, the settlement resolves allegations that
Maersk assessed detention charges against third parties that had not agreed to
be bound by the carrier’s bills of lading, service contracts or tariff terms.
As part of the agreement, Maersk committed to ending the
practice and updating its US tariff rules to align with Commission regulations.
The revised definition of “merchant” in the carrier’s bills of lading will now
be limited to shippers, consignee’s and parties with a beneficial interest in
the cargo, in accordance with FMC regulations.
The carrier also agreed to provide refunds and waivers to
affected third parties in addition to the civil penalty payment.
The FMC noted that while Maersk agreed to the settlement and
payment, the company did not admit to violating the Shipping Act or Commission
regulations.
According to the regulator, all penalty payments are deposited
into the US General Fund, with no portion retrained by the Federal Maritime
Commission.
COSCO SHIPPING Lines
announces July 2026 GRI for U.S. Canada trades
COSCO SHIPPING Lines has announced a new General Rates Increase
(GRI) for shipments from the Far East, Indian Sub Continent, Middle East and
Oceania to the United States and Canada. The new rates will take effect on July
01, 2026.
For U.S. bound cargo, the GRI applied to dry and reefer
shipments moving to all U.S. destinations.
The increase covers cargo moving via U.S. West Coast ports, East
Coast ports, Gulf ports and intermodal services.
COSCO SHIPPING Lines set the GRI at :
US$ 2,400 per 20’ Container.
US$ 3,000 per 40’ Container.
US$ 3,375 per 40’ High Cube Container.
US$ 3,800 per 45’ Container.
The carrier said the increase applies to shipments from
countries including China, Japan, South Korea, India, Vietnam, Thailand,
Singapore, Malaysia and Indonesia.
For Canada bound cargo, the GRI also takes effect on July 01,
2026. The increase applies to local and
intermodal cargo via Vancouver and Prince Rupert, as well as East Coast
all-water and intermodal shipments.
COSCO SHIPPING Lines announced the following Canada rates:
US$ 2,700 per 20’ Container.
US$ 3,000 per 40’ Container.
US$ 3,375 per 40’ High Cube Container.
US$ 3,800 per 45’ Container.
The carrier said the rate adjustments will apply to all Canadian
destinations.
ONE updated FE1 and FE3 services
Ocean Network Express (ONE) has announced strategic updated to
its FE1 and FE3 services on the Asia-North Europe trade, routing via the Cape
of Good Hope. The changes aim to improve schedule reliability, expand network
coverage and deliver faster transit times to key European ports.
FE1 service update : The FE1 service will add a
direct call at Le Havre, replacing the current Algeciras call. The new rotation
will be Laem Chabang, Cai Mep, Singapore, Rotterdam, Hamburg and Le Havre,
before returning via the Cape of Good Hope to Singapore and Laem Chabang.
The updated rotation commences with the ONE Hamburg, voyage
0085W/E, with an estimated arrival at Laem Chabang on June 06, 2026 and at Le
Havre on July 27, 2026.
FE3 service update : The FE3 service will see a
reordering of its European port sequence to provide faster transit times to
Felixstowe and Antwerp. The new rotation covers Qingdao, Ningbo, Yantian,
Singapore, Felixstowe, Antwerp and Hamburg, before returning via the Cape of
Good Hope to Qingdao. Algeciras is removed from the rotation.
The updated schedule commences with the HMM Dublin, voyage
0019W/E, with an estimated arrival at Qingdao on June 11, 2026 and at
Felixstowe on July 29, 2026.
Israeli ministries oppose proposed US$4.2 Billion ZIM-Hapag
merger
Growing opposition is emerging within the Israeli government
against the proposed US$ 4.2 Billion acquisition of ZIM Integrated Shipping
Services by Hapag Lloyd and the FIMI fund, with concerns focusing on national
security, supply chain resilience and food security according to Calcalist.
According to Calcalist, Israel’s Ministry of Economy and
Ministry of Agriculture have joined the Shipping and Ports Authority and
Ministry of Transportation in opposing the transaction.
The proposed deal would create a new local entity, ZIM Israel,
to comply with Israel’s golden share requirements. However, according to
Calcalist, critics argue the new company would be significantly smaller,
operating only 16 vessels compared with ZIM’s current fleet of 99 ships.
According to documents cited by Calcalist, the Ministry of
Economy warned the structure could create risks for maritime trade and national
interests, arguing that transferring most operations to a foreign-controlled
entity could weaken Israel’s shipping resilience. Officials also raised
concerns over ownership links involving sovereign wealth funds from countries
without diplomatic relations with Israel.
Calcalist reported that 98% of Israeli imports arrive by sea,
while maritime transport handles around 90% exports. ZIM currently accounts for
approximately 22% of Israel’s full-container shipping market.
The Ministry of Agriculture also expressed concerns over food
security, noting that Israel relies heavily on maritime imports for food and
agricultural supplies. According to Calcalist, the Ministry estimated ZIM
currently handles around one-third of food related maritime imports into the
country.
Calcalist further reported that the shipping and Ports Authority
previously argued that the proposed ZIM Israel structure would not provide an
adequate strategic replacement for the existing company and could undermine
supply chain continuity during emergencies.
The proposed transaction remains under increasing scrutiny as
multiple government bodies evaluate its potential impact on Israel’s maritime
and logistics infrastructure, according to Calcalist.
IMO adopts first global code
for autonomous ships
The International Maritime Organisation has adopted the first
International Code of Safety for Maritime Autonomous Surface Ships (MASS Code),
creating a global framework for the safe operation of AI-enabled and remotely
operated commercial vessels.
The new code applies to cargo ships and will enter into force on
July 01, 2026 as a non-mandatory instrument. Member states will use this period
to test the framework before mandatory rules are introduced under the SOLAS
Convention.
The MASS Code establishes requirements covering vessel design,
navigation, remote operations, connectivity, fire safety, cyber security,
Search and Rescue procedures. The framework also introduces requirements for
Remote Operations Centres and emphasizes risk assessment and system
reliability.
IMO Secretary General Arsenio Dominguez described the adoption
as a major milestone for shipping innovation and regulation. The organization
said the framework aims to ensure autonomous ships achieve safety, security and
environmental protection standards equivalent to conventional vessels.
Under the code, ship masters will retain overall responsibility
for vessel operations even when not physically onboard. The code is the result
of almost a decade of discussion, technical work and industry trials focused on
integrating autonomous technologies into global shipping.
IMO plans to continue work on mandatory rules over the coming
years. A mandatory MASS Code could be adopted by 2030 and enter into force in
2032.
Alongside the new code, IMO also advanced work on alternative
fuel safety regulations, ship tracking systems and maritime security measures
linked to ongoing disruption in the Strait of Hormuz.
/// Air Cargo News ///
Air India to cut 22 percent domestic flights amid high fuel prices
Air India has temporarily cut 22 per cent of its domestic flights as the loss-making airline grapples with the impact of the high fuel prices, according to sources.
The decision comes two weeks after the Tata Group-owned airline
announced a 27 per cent reduction in international flights amid airspace curbs,
as well as costlier jet fuel, which have pushed the operational costs higher
for overseas sectors.
Air India operates around 4,400 weekly flights. Out of them,
about 3,600 are domestic, and 800 are international services.
"In continuation of our previously announced adjustments to
select international services between June and August 2026, we have temporarily
rationalised operations on certain domestic routes during the same period, with
a reduction in frequencies on select routes," Air India said in a
statement on Wednesday.
The sources said 20-22 per cent of the domestic flights would be reduced.
Based on around 3,600 weekly domestic flights, the 22 per cent
cut would result in a reduction of more than 790 weekly services.
The airline said these adjustments are driven by the sustained
impact of high fuel prices on overall operations.
"Air India will continue to monitor demand and operating conditions
closely, with a view to restoring frequencies as conditions stabilise," it
said in the statement.
Air India extends
suspension of flights on Tel Aviv-Delhi route till July end
Amid continued geopolitical uncertainties in West Asia, Air
India on Thursday said it is extending its suspension of operations on the Tel
Aviv-Delhi route till July end.
Earlier this month, it had announced suspension till June end
but with no clarity on the prevailing security situation in the region, the
leading Indian carrier has decided to further extend its suspension of
operations on the route by another month.
A senior executive heading the airlines' Israel operations told
PTI that the "schedule amendment (has been) notified yesterday
evening."
The flights have been "further suspended till 31 July due
to the geopolitical situation," he said.
In the wake of the West Asia conflict, which started in late
February, airlines have been facing multiple headwinds, including costlier fuel
and airspace curbs, which pushed up their operational costs.
Despite the ceasefire between the US and Iran holding on for
some time, the uncertainties surrounding the situation in West Asia have pushed
the majority of airlines to stop operating on the Tel Aviv route.
Besides Israeli carriers like El Al, IsraAir, Arkia and Air
Haifa, only a few like El Al, IsraAir, Arkia and Air Haifa, only a few other
international airlines have resumed operations, posing great challenges for
those looking to travel abroad for work, vacation or family visits.
The suspension of Air India flights has caused major worries
among more than 40,000 Indians living in Israel who wish to travel to India for
personal/professional reasons, or even to escape the uncertainties in the
region.
The limited options also mean heightened costs, which is a major
concern among Indian workers.
Awesome Cargo completes
A330P2F fleet with final freighter delivery
Awesome Cargo has taken delivery of its final Airbus A330-200P2F from Elbe Flugzeugwerke (EFW), marking a major step forward in expanding and enhancing its cargo operations. The airline has received its third fully converted Airbus A330-200P2F freighter.
Luis Ramos, Chief Executive Officer at Awesome Cargo, announced
on his LinkedIn post, calling it a ‘Beautiful aircraft’. The aircraft was
received in April 2026, and was later sent to paint. Ramos shared on 16th May
that it's a massive milestone for the company. He confirmed saying, “Yes,
converted from EFW in April. Received from paint recently”.
The Mexican-based cargo airline took delivery of its third
Airbus A330 passenger-to-freighter under the EFW programme. It is one of a trio
of A330P2Fs ordered by Air Lease Corporation and subleased to Awesome Cargo,
with EFW acting as the conversion centre.
The conversion operation started after EFW received a validated
supplemental type certificate (V-STC) for its A330-200 P2F and A330-300 P2F
solutions by the Agencia Federal de Aviacion Civil Mexico (AFAC) in November
2024. The first aircraft, MSN 1252 nearly 14.7 year old and formerly operated
by Alitalia, was delivered in June 2025.
It was later joined by MSN 1218 and MSN 1225, both 15.1 years
old. All three ex-Alitalia aircraft were successfully converted into freighters
and delivered to Awesome Cargo. Ramos described it as an ‘emotional moment’
because XA-DUR carries greater meaning as “DUR” is his wife’s initials.
According to him, in aviation, aircraft become part of your life
story, and this one already was before it even touched the sky. He shared how
many believed that building a Mexican long-haul cargo airline during a global
supply chain crisis was impossible. Today, seeing three converted A330
freighters operating around the world proves that vision, resilience, and the
right people can overcome doubt.
Ramos indicated that the aircraft represents trust, confidence,
sacrifice and the relentless dedication of an extraordinary team across Mexico,
China, Korea, Latin America, and the United States.
While Ramos mentioned the specific route and how often these
freighters will operate, he said that freighters will fly Ezhou Huahu
International Airport (EHU) in China and Felipe Ángeles International Airport
(NLU) in Mexico City in a few weeks, which is 4 times per week.
Ramos underlined the contribution of teams at Elbe Flugzeugwerke
GmbH, Airbus, Mexicana MRO, and Sumisho Air Lease, Awesome Cargo’s crews and
operational teams, the Mexican aviation authorities and AIFA Felipe Ángeles.
He believes XA-DUR will always symbolise that building dreams at
this scale is impossible without love, patience, and unwavering support at
home. Ramos shared that all three freighters are in service.
Cathay records higher
cargo volumes in April 2026
Cathay Group reported its traffic statistics for April 2026. In
a brief report it mentioned, Cathay Cargo transported 8% more cargo in April
2026 compared with April 2025, while Available Freight Tonne Kilometres (AFTKs)
rose by 7%.
Total cargo tonnage for the first four months of 2026 also
increased by 8% year-on-year. Meanwhile, the number of freighter flights
reduced by 2.2% in April 2026 in comparison to April 2025, and so is the cargo
load factor, by 0.1%. Lavinia Lau, Cathay Chief Customer and Commercial
Officer, said, “Tonnage continued to record year-on-year growth in April.
While volumes from our home market eased due to softer demand
into South Asia, the Middle East, and Africa, demand to the Americas remained
solid. Overall tonnage into Hong Kong also remained healthy, supported by
robust traffic from Southeast Asia, the Americas, and Europe.
Our specialist solutions continued to perform well, with
semiconductor shipments within Asia, and technology-related exports from the
Americas into Hong Kong driving growth in our Cathay Expert and Cathay
Dangerous Goods solutions. Cathay Pharma also saw solid growth, particularly
from Europe to the Chinese Mainland”.
Similarly, Cathay Pacific recorded a 17% year-on-year increase
in passenger traffic in April 2026, while Available Seat Kilometres (ASKs) grew
by 15%. Passenger numbers during the first four months of 2026 were also up 19%
compared with the same period in 2025.
HK Express carried nearly 730,000 passengers in April 2026,
marking a 5% increase year-on-year and Available Seat Kilometres (ASKs) rose by
7%. Passenger traffic during the first four months of 2026 also grew by 14%
compared with the same period last year.
Lavinia reflected on the company’s overall performance in April
and said, “Travel demand was robust, and passenger load factors were high,
driven by holiday and seasonal travel, while cargo volumes were healthy.
However, jet fuel prices remained at highly elevated levels
amidst the ongoing Middle East situation, increasing cost pressures. We are
remaining agile in our response and continue to monitor the developments
closely.”
GHIAL commissions cargo
terminal 2 at Hyderabad International Airport
GMR Hyderabad International Airport (GHIAL) has commissioned Cargo Terminal 2 at Hyderabad International Airport, marking a major step in the airport’s cargo expansion plans. The new facility is designed to meet rising domestic and international cargo demand and support airlines, freight forwarders, logistics operators and regulatory agencies with next-generation cargo infrastructure.
Spread across 16,864 sqm, the terminal has been developed to
improve operational efficiency and support long-term growth. It will begin
operations with a cargo handling capacity of around 50,000 metric tonnes per
annum, with dedicated expansion space allowing capacity to increase to 100,000
metric tonnes per annum.
Kadhir Kadhiravan, CEO, GHIAL, said the commissioning of Cargo
Terminal 2 marks an important moment for the airport and Hyderabad’s position
as an air cargo and logistics gateway in Asia. He said the terminal has been
built to support cargo segments including pharmaceuticals and express
shipments, offering the speed, precision and reliability required by global
supply chains. He added that the facility will support the airport’s efforts to
strengthen cargo infrastructure and contribute to regional economic growth.
Sanjiv Edward, CEO, GMR Aero Cargo & Logistics, said the
launch of the new cargo terminal strengthens India’s air logistics ecosystem
and reflects the company’s commitment to world-class infrastructure and
value-added services for the industry. The terminal includes dedicated inbound
and outbound cargo zones, export and import processing areas, multi-level
racking systems for storage, and build-up and breakdown areas to allow parallel
shipment processing.
A key feature is a fully temperature-controlled pharma zone
designed to handle pharmaceutical and perishable cargo. The facility is
equipped with temperature cut-off systems and continuous monitoring technology
to support cold-chain handling. According to GHIAL, the terminal will help
improve cargo processing, support faster regulatory clearances and reduce cargo
dwell times.
It also includes enhanced airside-landside connectivity,
dedicated road access and power infrastructure to support uninterrupted
handling of pharmaceuticals, perishables, express consignments and general
cargo. GHIAL said the terminal has been developed with a focus on
sustainability through energy-efficient lighting, optimised HVAC systems,
insulation in temperature-controlled areas and resource-efficient building
materials.
Workflow planning and layout design are also aimed at reducing
equipment idling time and lowering energy consumption. The terminal is also
equipped with a multi-level fire detection and alarm system for early hazard
detection, aimed at maintaining safety standards for cargo, infrastructure and
personnel.
CMA CGM Air Cargo
launches Paris–Hanoi freighter service
CMA CGM Air Cargo has launched a new freighter connection
between Paris and Hanoi, strengthening cargo connectivity between Europe and
Vietnam as the carrier continues expanding its long-haul network.
The launch was confirmed by Krisztian Zajak, Ground Operations
and Security Director – Air Cargo at CMA CGM, in a LinkedIn post announcing the
start of operations from Hanoi’s Noi Bai International Airport to Paris.
“After extensive work by the entire CMA CGM Air Cargo team and
our esteemed partners in Vietnam, we are now flying from Hanoi - Noi Bai
International Airport to Paris,” Zajak wrote. According to flight data from
Flightradar24, the France-based logistics and shipping group is deploying a
Boeing 777F freighter on the route.
The inaugural flight took place on May 9, 2026. The current
routing operates as Paris–Hanoi–Navoiy–Paris, linking Vietnam’s manufacturing
and export hub with Europe through CMA CGM Air Cargo’s freighter network.
So far, the aircraft has completed two full rotations on the
sector. The addition of Hanoi further strengthens CMA CGM Air Cargo’s presence
in Asia at a time when demand for electronics, e-commerce shipments, textiles
and industrial cargo continues to support air freight flows between Southeast
Asia and Europe.
Navoiy in Uzbekistan serves as a technical stop on the return
leg, connecting Southeast Asia, Central Asia and Europe.
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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