JUPITER SEA & AIR
SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91 98407 85202
Corporate News Letter for Saturday May 30, 2026
Today’s
Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
|
|
95.03 |
0.669998 |
0.700103 |
95.55 |
95.70 |
|
|
|
1.165 |
-0.0001 |
0.008584 |
1.1651 |
1.1651 |
|
|
|
127.4741 |
-0.7304 |
0.569715 |
128.3997 |
128.2045 |
|
|
|
110.6023 |
0.855797 |
0.767819 |
111.2501 |
111.4581 |
|
|
|
159.268 |
0.028 |
0.017583 |
159.24 |
159.24 |
|
|
|
1.344 |
-0.0005 |
0.037186 |
1.3445 |
1.3445 |
|
|
|
99.112 |
0.092003 |
0.092913 |
98.998 |
99.02 |
|
|
|
0.5964 |
-0.0033 |
0.550267 |
0.6011 |
0.5997 |
|
/// Sea Cargo News ///
CMA CGM raises Asia – Mediterranean FAK
rates from mid-June
CMA
CGM has announced new Freight All Kinds (FAK) rates from Asia to Mediterranean
and North Africa, effective from June 15, 2026.
The
revised rates apply to cargo moving from all Asian main ports to Mediterranean
destinations including West Mediterranean, Adriatic, East Mediterranean, Black
Sea Ports and Algeria.
The
carrier announced the following rates :
|
Destination |
20’
GP Container |
40’
GP / 40’HC |
|
West
Mediterranean |
US$
4,800 |
US$
6,500 |
|
Adriatic |
US$
4,900 |
US$
6,600 |
|
East
Mediterranean |
US$
4,900 |
US$
6,700 |
|
Black
Sea |
US$
4,900 |
US$
6,700 |
|
Algeria |
US$
6,500 |
US$
9,200 |
The
new FAK levels apply to dry cargo, reefer containers, out of gauge and paying
empty containers.
The
increase marks another upward adjustment on Asia-Mediterranean trades as
carriers continue implementing higher pricing ahead of the peak shipping
season.
SAAM completes Interlug acquisition to
strengthen Americas towage network
SAAM
has completed the acquisition of the remaining 30% stake in Interlug’s
operations in Colombia and Mexico, securing full ownership of the subsidiaries.
The
transaction, valued at US$30.5 Million, gives SAAM complete control of
Interlug’s businesses in both countries.
This
is a key step in our growth strategy for 2030, said SAAM CEO Hernan Gomez. He
added that the acquisition strengthens the company’s regional leadership and
supports expansion through an efficient and sustainable operating model.
SAAM
first entered the Colombian market in 2021 after securing a 70% stake in
Interlug. The company said the transaction closed after receiving regulatory
approvals and meeting all required condtions.
Through
its towage division, SAAM Towage now operates a fleet of more than 200 tugboats
across over 90 ports throughout the Americas.
The
fleet conducts more than 155,000 maneuvers annually, supporting container
ships, tankers, bulk carriers, Ro-Ro vessels and LNG carriers.
The
company said the acquisition further strengthens its strategic position in
regional towage markets as it continues pursuing growth targets through 2030.
Hapag Lloyd adds PSS from Far East to Latin
America and Caribbean
Hapag
Lloyd is set to apply a peak season surcharge (PSS) on cargo moving from the
Far East to the West Coast and East Coast of South America, Mexico, Central
America and the Caribbean, effective June 15, 2026, until further notice. For Puerto Rico and the US Virgin Islands,
the surcharge will take effect from June 29, 2026.
The
charge applies to all container types, including 20-foot and 40-foot dry,
reefer and special containers, as well as high-cube equipment.
Rates
are set at USD 500 per 20-foot container and USD 1,000 per 40-foot container.
Ocean Alliance revises CBX service
The
Chesapeake Bay Express (CBX), operated by CMA CGM on behalf of the Ocean
Alliance, is set for another round of changes just weeks after its last
revision. The Ocean Alliance also includes CoscoSL, OOCL and Evergreen,
according to Dynaliners.
The
latest amendments will see Port Keland reinstated and New York added to the
rotation. Jacksonville and Kobe, both of which were only introduced in the
previous revision, will be dropped.
Once
the charges are in place, the full rotation of the eastbound round-the-world
service will cover Port Kelang, Ho Chi Minh City (Cai Mep), Shanghai, Busan,
Norfolk, New York, Charleston, Savannah and back to Port Kelang.
/// Air Cargo News ///
Qatar Cargo maintains
market leadership despite volume decline
Qatar Cargo saw its cargo revenues and volumes decline last year
as performance was hit by the outbreak of fighting in the Middle East at the
end February and supply chain shifts.
The airline’s cargo business registered a 9.6% decline in cargo
revenues in its financial year running until the end of March to $4.45bn, while
cargo volumes were down 9.1% year on year to 2.8m tonnes.
However, the carrier pointed out that it had maintained its
position as the world’s largest international airfreight carrier with a 12%
global market share.
“This performance reflects sustained demand across key markets,
alongside the Group’s ability to adapt with speed and discipline,” the airline
said in its annual statement.
Qatar Airways chief executive Hamad Al‑Khater said the carrier
delivered its results in the “midst of a geopolitical disruption that closed our airspace and significantly curtailed our
operation, the consequences of which remain very much present”.
By the end of March, Qatar Airways’ global passenger and cargo
network stabilised, Gulf Cooperation Council (GCC) links were introduced across
three key cities, and 93% of Doha cargo backlog was cleared.
In addition, all 30 Boeing 777 freighters were fully deployed,
its global network ran 87 flights uninterrupted daily, and it had a flown as
planned rate of 81%.
Looking to the financial year as a whole, the airline said that
the market had been affected by the introduction of tariffs.
“Global cargo markets were influenced by continued uncertainty,
including new tariff regimes, shifting trade flows, and broader geopolitical
change,” the carrier said.
“Qatar Airways Cargo responded with agility and adjusted
capacity across its network in line with customer requirements and regional
growth opportunities.”
Network developments, partnerships and products
During the year, new freighter services were launched to
Baghdad, Cairo, Erbil, Tbilisi, and Yerevan, and capacity was further
strengthened across key Asian gateways, including Guangzhou, Hong Kong, and
Macau.
In total, the cargo division serves more than 70 freighter
destinations and over 170 bellyhold destinations.
In terms of partnerships, its tie-up with Virgin Australia saw
cargo capacity from Australia’s principal hubs and “significant progress was
made on its landmark Global Cargo Joint Business” with IAG Cargo and
MASkargo.
Following regulatory approvals across 57 markets, the joint
business commenced a pilot launch of the collaboration. Further expansion will
follow as additional approvals are secured.
The cargo division also launched TechLift, a service designed
for semiconductors and high tech cargo, and Aerospace services.
Digital investments included enhancements to the cargo mobile
application, the introduction of Sama for Cargo – the world’s first AI powered
digital cargo cabin crew, and the rollout of Ramp Offload and Load Supervision
as part of its ramp digitisation programme.
The overall airline said its performance was robust despite net
profits sliding by 10%.
ASL continues Australasia
expansion with Airwork purchase
ASL Airlines Australia has signed a sale-and-purchase agreement
for the takeover of troubled group Airwork’s New Zealand and Australia freight
business.
In a short statement, ASL said that the proposed transaction
remains subject to the completion of the final stage due diligence and the
satisfaction of customary conditions. Terms were not disclosed.
“This is expected to be an exciting development for ASL and a
welcome step forward in our operations,” said Stefan Oechsner, chief executive
and managing director at ASL Airlines Australia.
Airwork Holdings – excluding its Airwork Flight Operations,
Airwork Personnel and AFO Australia businesses – went into receivership in July
of last year, followed by certain assets of Airwork Ireland in September.
The company’s financial difficulties were caused by the loss of
five leased Boeing 757 aircraft in Russia following the Russian invasion of
Ukraine; challenging trading conditions due to the loss of customers; and
unsustainable debt levels.
“Airwork is gradually recovering from the significant and
unforeseen event in 2022, when western sanctions on Russia, resulting from the
Russia-Ukraine conflict, materially impacted the business,” the company said in
a recent financial report.
“These sanctions led to the legally required termination of six
aircraft lease arrangements with a Russian customer. Five of Airwork’s aircraft
remain under the illegal control of the Russian operator. These aircraft have
been fully impaired and remain the subject of an ongoing insurance claim.”
According to Planespotters.net, the
airline currently operates five Boeing 737-400 aircraft, with a further two of
the model parked, along with a single 737-800.
ASL Airlines Australia was formerly known as Pionair Australia.
ASL Aviation acquired
Pionair in 2023 and rebranded it the same year to align with other ASL
units.
The purchase allowed ASL to expand into the Australian and
Oceania markets. The company has been focused on modernising its fleet and in
July last year took delivery of a second 737-800 converted freighter.
In total, the carrier operates eight aircraft with the rest of
its fleet made up of BAe 146-200QT and BAe 146-300 aircraft.
Services offered by the airline include ACMI and charter
operations.
US cargo airlines call for suspension of jet fuel tax
A group of US cargo carriers has called on the Trump
administration to temporarily suspend taxes on jet fuel in response to rising
prices caused by the Middle East conflict.
In a position statement, National Air Carrier Association (NACA)
president and chief executive George Novak warned that the cost of everyday
goods and medical products would increase as a result of the rising cost of
fuel.
The NACA would therefore like the Trump administration to
consider a temporary waiver of federal excise taxes on commercial aviation fuel
until market conditions stabilise and fuel prices begin to decline.
“Ultimately, increased fuel costs ripple through the broader
economy, increasing prices on everything transported by air,” Novak said.
“From medical supplies and electronic components to flowers,
perishables and consumer goods, everything becomes more expensive for American
businesses and consumers.”
He added: “This action would provide immediate operational
relief to carriers, help preserve critical air transportation capacity, support
supply chain stability, and help limit additional inflationary pressure on the
American economy during a period of significant geopolitical uncertainty.”
Jet fuel prices have risen sharply since the start of the
US-Iran conflict at the end of February as a result of the closure of the
Strait of Hormuz, which sees around 20% of the world’s oil transit through.
According to IATA/Platts data, average global jet fuel prices
currently stand at $163 per barrel, an increase of 80.5% compared with the
prior year’s average.
North American jet fuel prices are a little higher at $164 per
barrel, which is 78.9% up on last year’s average.
However, there has been an improvement in recent weeks. Current
average global prices are around 14% lower than last month’s average, the IATA
statistics show.
And at one point in mid-April, prices were above $200 per
barrel.
“Rising tensions in the Strait of Hormuz have driven sharp
increases in aviation fuel prices and created growing concerns regarding the
availability of jet fuel throughout portions of the global supply chain,” Novak
said.
“Increased fuel costs are an industry-wide issue affecting
passenger and cargo carriers, charter operators, supplemental air carriers,
regional airlines and commercial operators of every size and type across the
US.”
Members of the NACA include: ABX Air, ATI, Amerijet, Atlas Air,
Eastern, Everts Air Cargo, Global Crossing Airlines, Gridiron Air, Kalitta Air,
Lynden Air Cargo, National Airlines, Northern Air Cargo, Omni Air
International, USA Jet Airlines and Western Global Airlines.
The Trump administration is currently considering whether to
implement a 90-day suspension on the non-aviation fuel tax.
UPS MD-11F crash:
Ramifications of engine pylon bearing failures not fully realised
US investigators have been seeking to understand why
a history of bearing failures on Boeing MD-11 pylons did not lead to
sufficient corrective action before last November’s fatal UPS freighter crash
during take-off from Louisville.
Fatigue in the bearing race housed between two pylon bulkhead
lugs — which anchor the aft section of the engine pylon to the wing — could
cause the race to split and migrate, leading to abnormal stress on the lugs.
The National Transportation Safety Board believes a stress
fracture of both lugs, resulting in aft pylon detachment from the wing, caused
the UPS MD-11F’s left engine to pivot upwards and separate on rotation.
Multiple instances of similar bearing race failures on MD-11
pylons, including three on FedEx aircraft since June 2020, were detailed on 19
May during the opening day of the safety board’s hearing into the accident.
Three of the 26 UPS MD-11Fs inspected after the crash were also
found to be suffering the same problem in one of their pylons.
“The concern I have is…we had three other [UPS] aircraft that
potentially were in the same situation eventually,” said NTSB board member John
DeLeeuw.
“We don’t want this to go and happen again. We want to prevent
this.”
He pointed out that the prior discoveries of bearing race
failure had been “signals to us…saying we might have a small problem here”.
“We had something here, we just didn’t do anything about it,” he
said.
UPS senior director of engineering John Springer responded to
DeLeeuw, stating: “I think the key is, the way our processes are set up, we’re
relying on the data that’s out there — and what kind of determination is made
on whether it was safety, or not safety.
“In this case, it came through the service letter with explicit
notation that it would not be a safety-of-flight condition.
“So that started this on the wrong trajectory to begin with.”
The service letter, which referenced bearing failures, had been
issued in May 2008 and introduced a new inspection procedure.
NTSB investigator in charge Chihoon Shin told the hearing that
the service letter was followed by a 2011 revision, which informed of a
redesigned bearing which “eliminated” the lubrication groove in the race — the
originating point of the bearing fatigue fracture.
“Investigators found UPS reviewed the service letters and
determined no further action was required,” he added.
Springer stated, in his remarks to DeLeeuw, that the Boeing
service letter made the problem “sound almost benign”, and “not a big deal”.
He added that the full extent of the “collateral damage”, the
fact that the bearing race fractures were causing damage to the lugs, was not
conveyed.
“The rest of the damage that was being caused was a big deal,”
said Springer. “And I think, if we would have known that at UPS, I think we’d
have asked a lot of different questions over the years.”
Several occurrences of bearing race failure had been reported to
the US FAA’s service difficulty report database.
But Boeing Commercial Airplanes senior director of fleet
operations Scott Hirsch informed the hearing that the company was not mining
this database.
“We have not looked at [service difficulty reports] for mining
in the past,” he said. “We ran a pilot and also found difficulties with the
data quality.”
Hirsch added that the company had not been able to find a way to
integrate the data with its continued operational safety criteria.
“We are currently exploring what we can do better, and we plan
to work transparently with the FAA,” he said.
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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