Corporate News
Letter for Monday June 29, 2026
Today’s
Exchange Rates
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CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
|
|
94.4 |
0.269997 |
0.285198 |
94.30 |
94.67 |
|
|
|
1.1346 |
-0.0012 |
0.105649 |
1.1358 |
1.1358 |
|
|
|
124.4678 |
0.262703 |
0.210616 |
124.2858 |
124.7305 |
|
|
|
107.259 |
0.166496 |
0.154988 |
107.1892 |
107.4255 |
|
|
|
161.874 |
0.093994 |
0.0581 |
161.78 |
161.78 |
|
|
|
1.3168 |
0.00 |
0.00 |
1.3168 |
1.3168 |
|
|
|
0.5835 |
-0.0021 |
0.358605 |
0.5852 |
0.5856 |
|
/// Sea Cargo News ///
Chennai
Port Handles One of Its Largest-Ever Cruise Operations
Chennai Port Authority marked a significant milestone in India's cruise tourism sector by successfully handling one of its largest-ever cruise passenger operations with the arrival of the cruise vessel MV Empress operated by Cordelia Cruises.
The port seamlessly managed the movement of
around 3,600 passengers in a single day, showcasing its enhanced capability to
support large-scale cruise operations. Passengers were welcomed through Chennai
Port’s newly upgraded International Cruise Terminal, which offers modern
facilities and an improved travel experience.
The vessel’s call also signals the beginning
of an active cruise season at Chennai, with 21 cruise voyages scheduled over
the next three months, further strengthening the city’s position as a key
cruise tourism hub in South India. Chennai Port Authority credited the
successful operation to the coordinated efforts of various stakeholders and
partner agencies.
The achievement underscores the port’s
growing role in promoting tourism, enhancing passenger connectivity and
positioning Chennai as a prominent destination on the global cruise map.
The milestone is expected to provide a boost
to regional tourism and support the government’s efforts to expand India’s
cruise tourism ecosystem.
Russia Eyes Ports,
Biotech for Rupee Surplus Investments in India
Russia is exploring opportunities to invest a portion of its accumulated rupee surplus in India's high-growth sectors, including port infrastructure, biotechnology, and Special Economic Zones (SEZs), as both countries seek to deepen economic cooperation under the Rupee-Rouble trade framework.
According to officials familiar with the
discussions, Moscow is evaluating avenues to deploy rupee funds generated
through expanding bilateral trade, particularly following the sharp rise in
Russian exports to India in recent years.
The move is aimed at generating long-term
returns while making productive use of rupee balances that cannot be freely
converted into other currencies. Russia has identified India's rapidly
expanding port sector as one of the most attractive investment destinations.
The country’s ongoing Sagarmala programme,
which encompasses hundreds of port modernisation and connectivity projects is
viewed as a significant opportunity for strategic investment. Russian experts
believe participation in port infra-structure could provide stable returns
while strengthening trade links between the two nations.
Biotechnology has also emerged as a priority
area. Russian officials see strong potential in India’s pharmaceutical
manufacturing sector and agricultural biotechnology initiatives. Investments in
healthcare innovation, advanced medicines and technologies aimed at improving
agricultural productivity and water efficiency are under consideration.
In addition, Russia is studying investment
opportunities in India’s SEZs, which offer export oriented growth prospects and
industrial development opportunities. These investments could further support
bilateral trade expansion and industrial collaboration.
The discussion come amid strengthening
India-Russia economic ties. Russian President Vladimir Putin recently expressed
confidence that bilateral trade could reach USD 100 billion in the coming
years, driven by growing cooperation in energy, infrastructure, investments and
other strategic sectors.
The proposed investments are expected to help
address the longstanding challenge of managing Russia’s rupee holdings while
channelling capital into sectors that align with India’s infrastructure and
industrial growth ambitions.
US Maritime Strategy
Boosts Vessel Construction as Reliance Challenges Continue
The United States is accelerating efforts to strengthen its maritime sector through a new strategy focused on expanding shipbuilding capacity, but reducing dependence on foreign-built vessels and global supply chains remains a long-term challenge.
The maritime action plan aims to increase
domestic vessel production, improve shipyard capabilities, and support the
growth of a stronger national maritime industry. The initiative reflects
growing concerns over fleet capacity, supply chain resilience, and the
country’s reliance on overseas shipping resources.
While new investments and policy measures are
expected to boost ship construction, industry experts note that rebuilding a
competitive shipbuilding ecosystem will require significant time, skilled
labour development, infrastructure upgrades, and sustained investment.
The U.S. maritime sector continues to face
challenges from limited commercial shipbuilding capacity, higher production
costs and competition from established global shipbuilding markets.
As the strategy moves forward, officials are
looking to balance faster fleet expansion with efforts to create a more
self-reliant and resilient maritime supply chain.
Maersk
expands into U.S. battery logistics
A. P. Moller – Maersk has launched a dedicated lithium-ion battery transportation solution across its North American group freight network, targeting the rapidly growing U.S. battery logistics market.
The new capability extends Maersk’s dangerous
goods expertise beyond ocean and air freight into road transportation,
providing a specialized service for the movement of Class 9 lithium-ion
batteries across the United States, Canada and Mexico.
According to the company, the U.S.
lithium-ion batter transportation market is estimated to be worth between USD
2.4 Billion and USD 3.0 Billion, driven by growing demand from the automotive,
electric vehicle and advanced manufacturing sectors.
The service has been designed with strict
safety and compliance requirements including the transportation of only new
batteries, mandatory state-of-charge levels between 10% and 60% and
comprehensive shipment document such as Safety Data Sheets, Dangerous Goods
Declarations and UN 38.3 Test Summaries.
Maersk added that all shipments will be
handled by hazmat-trained drivers, while cross-border movements between the
United States, Canada and Mexico will comply with country specific regulatory
requirements.
Bob Livingston, U.S. Head of Maersk Ground
Freight Operations, said : “The energy transition isn’t just about what powers
a vehicle -its about the entire supply chain behind it. Moving lithium
batteries safely and at scale requires purpose-built logistics infrastructure
and that’s exactly what we’ve created”.
ANL
restores rates on Asia-Australia trade
ANL has announced a rate restoration program for shipments from Asia to Australia effective July 15, 2026.
The increase will apply to all dry and
refrigerated cargo and will be added on top of existing Spot and Freight All
Kinds (FAK), in addition to all applicable surcharges in effect at the time of
shipment.
Under the revised pricing, the carrier will
apply an increase of USD 500 per 20-foot dry and reefer container and USD
1,000 per 40-foot dry and reefer container.
According to ANL, the rate restoration is
intended to support the continued provision of reliable services across the
Asia-Australia trade lane.
Load
testing underway on Kundzinsala overpass in Riga
Construction of the overpass linking Tvaika Street to Kundzinsala in Riga has entered its final phase.
Load testing of the structure began on
Tuesday June 16, marking one of the key steps before the project is put into
service.
The new overpass is among the most important
transport infra-structure developments in Riga.
It will significantly improve access to
Kundzinsala and the industrial zones of the Freeport of Riga while providing
safer and more convenient travel for motor vehicles, pedestrians and cyclists.
Heavy vehicles will be routed directly to Kundzinsala thus reducing the flow of
freight traffic on the city’s streets.
The new overpass will make it possible to
create an even more attractive business environment on Kundzinsala, where
sustainable energy, modern industry and smart logistics can all thrive side by
side.
The overpass and trestle structures are built
and the final asphalt layer has been laid across nearly the entire 863.5 meter
structure. Since early June, approximately 2,000 metric tons of asphalt have
been applied to the top layer.
Asphalt paving continues on Tvaika Street and
the new road network around the overpass.
The project creates a direct link between
Tvaika Street, Kundzinsala and the Freeport of Riga territory. The bridge
crosses the Sarkandaugava tributary, three railway tracks and an above ground
oil pipeline, connecting to the previously completed Daudersala Overpass.
Due to the project’s complexity and certain
technical challenges encountered during construction, the completion date has
been extended to October 08, 2026.
The total project cost is 82.6 million euros,
financed through a state budget grant of 23 million euros, a state budget load
of 59.6 million euros and 4.5 million euros from the European Union’s Cohesion
Fund.
China’s Expanding
Presence Near Spanish Naval Hub Sparks EU Security Concerns
China’s expanding role in Spain’s port infrastructure is drawing growing scrutiny from European policymakers and security experts, particularly over a planned industrial facility by Chinese automaker SAIC near the strategically important Ferrol naval base in northwestern Spain.
According to a report by Directus, concerns
have intensified as Beijing increases investments in Spanish logistics and
maritime assets. The spotlight is currently on SAIC’s proposed €200 million
manufacturing complex near the Port of Ferrol, a key Spanish naval hub that
hosts the Spanish Navy’s headquarters in the region and facilities operated by
state-owned shipbuilder Navantia. The area is also considered significant for
NATO operations in the Atlantic.
The project has raised questions because one
of the planned industrial sites would be located close to access routes used by
Spanish military vessels, including the Navy’s F-100 frigates. Despite
alternative locations reportedly being considered, SAIC selected Ferrol for its
first industrial investment in Europe.
The project received support from regional
authorities, with Galicia President Alfonso Rueda confirming the investment
after a visit to China and highlighting cooperation between Madrid and Beijing.
While local officials view the investment as
an opportunity to boost employment and industrial development, security
analysts argue that the location’s military importance requires greater
scrutiny.
Alberto Camarero Orive, a port security and
logistics expert at Madrid’s Polytechnic University, described Ferrol as one of
Spain’s most sensitive strategic zones
due to its naval infra-structure and NATO links. He warned that critical port
facilities could become vulnerable during periods of geopolitical tension or
hybrid warfare.
Reports indicate that SAIC is preparing to
send a logistics vessel to assess the port’s infrastructure in July. Experts
have called for stronger safeguards, particularly when investments involve
state-backed Chinese companies, to prevent foreign influence over critical
infrastructure.
The concerns are amplified by China’s
existing presence in Spain’s maritime sector. Chinese shipping group COSCO
strengthened its foothold in 2017 through the acquisition of a 51% stake in
container terminal operator Noatum and has since expanded operations in
Tarragona.
In response to similar concerns across
Europe, the European Commission is developing guidelines under its EU Ports
Strategy aimed at helping member states evaluate the influence of third
countries in port operations.
EU transport ministers recently endorsed the
initiative, stressing the importance of preventing excessive foreign ownership
or control of strategically important port infrastructure across the bloc.
Renault India Begins
Exports of All-New Duster, Ships First Batch to South Africa
Renault India has commenced exports of the all-new Duster, marking a significant milestone in its global manufacturing and export strategy. The first shipment of 750 vehicles departed from Kamarajar Port in North Chennai, bound for South Africa, with additional international markets set to be added in the coming months.
The export launch underscores the growing
role of India within Renault’s global production network. According to Stephane
Deblaise, the start of Duster exports validates the quality, competitiveness,
and manufacturing capabilities of Renault’s Chennai operations while
reinforcing India’s position as a key pillar in the company’s international
industrial footprint.
Deblaise noted that India offers the
essential ingredients required to become a leading automotive export hub,
including advanced manufacturing infrastructure, skilled engineering talent,
production scale, and an increasingly efficient logistics ecosystem.
Renault is targeting annual exports worth
Euro 2 Billion from India by 2030 as part of its long term growth strategy. The
company expects India to play an increasingly strategic role as it expands its
presence across global markets.
The all new Duster is the first Renault
vehicle in India to be built on the Renault Group Modular Platform, a flexible
architecture capable of supporting powertrain technologies. The SUV has also
achieved a 5-Star Bharat NCAP safety rating across all variants and powertrains,
enhancing its appeal in both domestic and export markets.
The export programme highlights India’s
rising importance as a manufacturing and export base for global automakers and
further strengthens Chennai’s position as a major automotive export hub.
SCI-Managed VLCC
Resumes Course Toward Strait of Hormuz After Mid-Sea U-Turn
An oil supertanker managed by Shipping Corporation of India (SCI) has resumed its voyage toward the Strait of Hormuz after briefly reversing course in the Persian Gulf, according to vessel-tracking data compiled by Bloomberg.
The 300,000-dwt VLCC Desh Vibhor was
initially seen heading toward a southern route recommended by the US military
before making a U-turn and later altering course again to continue toward the
strategic waterway.
The vessel is now proceeding along a more
northerly route closer to the Iranian coastline. Shipping movements through the
Strait of Hormuz are being closely monitored by energy markets following the
interim peace agreement signed between the United States and Iran on Wednesday.
Despite the accord, Tehran has stated that
vessels must obtain its permission before transiting the key maritime
chokepoint. Shipping Corporation of India did not immediately comment on the
vessel’s movements.
Meanwhile, two other very large crude
carriers, Sanmar Herald and Desh Vaibhav, were reported to be transiting the
Strait of Hormuz on Friday, heading toward the Arabian Sea.
The Strait of Hormuz remains one of the
world’s most critical energy corridors, handling a significant share of global
crude oil exports from the Middle East.
/// Air Cargo News ///
Flights take off from Mundra airport,
boost Kutch linkage
Adani Mundra Airport has started its freighter operations, marking a key step in improving regional air connectivity for Kutch, Adani Group announced.
The
move is aimed at strengthening links between Mundra and major Indian cities
while supporting trade and industrial activity in one of Gujarat’s key economic
zones.
The
initial network will connect Mundra with Mumbai, Goa, and several other cities,
with Star Air operating services across eight routes, including Surat, Nanded,
Kolhapur, Bengaluru, and Belagavi.
The
new connections are expected to reduce travel time and improve mobility for
businesses. The airport is positioned as a supporting link for the region’s
logistics ecosystem, particularly for Mundra Port and the surrounding
industrial zone.
Improved
air connectivity is expected to complement cargo movement through the port and
strengthen integration with national supply chains.
Developed
with a 1,900-metre runway, the airport forms part of the broader expansion of
the Adani Group aviation network, aimed at enhancing multimodal connectivity
across India’s growing logistics corridors.
Vietjet Air Cargo appoints Rainbow
Aviation as GSSA in India
Vietjet Air cargo appointed Rainbow Aviation as the exclusive General Sales and Service Agent (GSSA) across India, according to a company statement.
The
partnership marks a step in expanding the airline’s cargo operations and
strengthening its presence in the Indian market. As an exclusive GSSA, Rainbow
Aviation will oversee cargo sales, customer support, and service operations
nationwide, ensuring seamless coordination for businesses, and freight
partners.
The
collaboration is likely to improve access to Vietjet Air Cargo’s growing
network. By connecting key cargo gateways across India, the partnership
reinforces both the companies’ commitment to enhancing air cargo connectivity
and supporting the country’s expanding trade ecosystem.
 A United Airlines Boeing 787-10 Dreamliner pictured here, flying into Sao Paulo, Brazil sports a special livery called "Stars and Stripes" to celebrate 250 years of U.S. Independence. United Cargo is at air cargo China this week (June 24-26) located at Hall W5 Stand 119 Shanghai New International Expo. The United States of America is heading toward a huge milestone: 250 years since independence, with the big culmination landing on July fourth, twenty twenty-six. People call it the Semiquincentennial, which sounds like a history quiz word, but what it really means is a once-in-a-lifetime birthday party for the USA. This isn’t a quick “show up, watch fireworks, go home” kind of anniversary. It’s shaping up to be multi-day, nationwide, and impossible to ignore. Think historical exhibitions that pull old stories out of museums and set them right down, smack dab in the middle of everyday people. Here’s the invitation as we roll toward July fourth, twenty twenty-six. Wherever you are—big city, small town, somewhere in between—pay attention to the celebrations near you. Show up for the festival. Watch the fireworks. Walk through the historical displays. Ask questions. Listen and share stories. And maybe, when the noise gets too big and the headlines get too heavy, put on a song that reminds you what this is really about. Not perfection. Not a single version of history. But a complicated, ongoing story that millions of people are still writing together. It’s celebration plus reflection, happening across the country at the same time. The energy is alive everywhere in every city, town and village across this great nation. Looking ahead to July we feel quite a bit of celebratory energy across the USA and also in New York City, Philadelphia, and Washington, D.C. These cities looking back 250 years hold key chapters of a shared story. Philadelphia brings us close to the origins of our country, where arguments and ideals turned into documents and decisions. Washington, D.C. feels like the living continuation of that story, where the country keeps debating what it wants to be. And New York City and its surrounding region—is the loud heartbeat, the place that turns big moments into something the whole world watches, currently focused upon the FIFA World Cup matches going on with a 48-team format from nations from all over the world, with Qatar Airways Cargo hosting a great VIP Suite experience. FIFA will continue to fasten world attention and participation during America’s biggest birthday party until July 19th. When you celebrate 250 years, you’re not just cheering for the past. You’re asking: what does the next stretch look like? Who gets included in the “we” when we say “we, the people”? A big birthday forces those questions, whether we want them or not. So if you’re listening and you’re thinking, “How do I even connect to something that huge?” I want to offer a surprisingly simple answer: music. In the middle of all the spectacle—parades, speeches, crowds—music is the thing that can cut through and make it personal. And there’s a beautiful example of that tied to this moment: Playing For Change celebrating John Denver’s “Take Me Home, Country Roads,” that underscores what USA means at home. That
song is basically a traveling companion for a lot of people. You don’t have
to be from West Virginia to feel it. It’s about belonging. It’s about
longing. |
My Freighter hires Group Concorde as
cargo sales agent in four countries
Group
Concorde has been appointed the cargo sales agent for My Freighter across the
UAE, Philippines Cambodia and Myanmar.
The
Indian GSSA (general sales and service agent) announced its appointment across
the four countries in a LinkedIn post today.
“This
partnership reflects our shared commitment to strengthening cargo connectivity,
expanding market reach and delivering exceptional service across these
strategic regions,” said Group Concorde.
Group
Concorde has a presence across more than 16 countries in Asia Pacific, the
Middle East, and South Asia. Its services include revenue management,
marketing, sales and operations.
Alongside
its partnership with Group Concorde, Uzbekistan-based carrier My Freighter has
also recently started working with the ECS Group and MF Cargo.
The ECS Group said
in April that
since January, it has added operations for My Freighter in France, the
Netherlands and Belgium through its general sales agent (GSA) Globe Air Cargo
subsidiary.
Plus
in May, My Freighter appointed MF Cargo as its GSA in
Israel. The carrier said that MF Cargo would be responsible for cargo sales,
customer support, and the development of cargo opportunities between Israel,
Central Asia, Europe, China, and other destinations across its network.
My
Freighter’s efforts to expand sales support match its efforts to grow its
network. In March, My Freighter began operating new routes between
Asia and Frankfurt Airport (FRA) and in January, the airline announced it
would add scheduled cargo
flights from Hong Kong International Airport (HKG) to Maastricht Aachen
Airport (MST) in the Netherlands via its main hub at TAS.
Semiconductor demand helps push
transpac aircraft utilisation to its limits
Image: © IM Imagery/ Shutterstock.com
Booming
volumes of semiconductors combined with the Middle East crisis have pushed
aircraft cargo utilisation levels on the transpacific trade to their maximum,
according to data provider Xeneta.
Figures
from Xeneta show that the dynamic load factor – taking into account space and
weight – on services from Asia Pacific to North America currently stands at
90%.
Speaking
on a Xeneta/Tiaca webinar, the firm’s chief airfreight officer, Niall van de
Wouw, said this is a “near-practical maximum” given that not every flight on
the routes is optimised for cargo.
While
the high utilisation levels are in part driven by the Middle East crisis, the
growth of hyperscaler and semiconductor-related demand has been a major growth
driver.
Global
semiconductor revenue grew 106% year on year in early 2026, and the correlation
with transpacific air freight rates is direct, Xeneta explained.
In
May 2026, air cargo rates from Taiwan to the US were running at $7.02 per kg,
up 24% year on year. From China to the US, rates reached $5.86 per kg, up 46%.
Malaysia to the US was at $6.69 per kg, up 36%.
The
companies moving this cargo are operating in an environment where the
competitive stakes of receiving components quickly outweigh the cost of
freight.
Van
de Wouw explained that the companies moving this cargo are operating in an
environment where the competitive stakes of receiving components quickly
outweigh the cost of freight.
“Whether
they pay five, six or seven dollars a kilo is largely secondary to receiving
the infrastructure they need to build data centres and deploy AI applications
as fast as possible,” van de Wouw said.
Xeneta
added that semiconductor demand had replaced e-commerce volumes as the key
growth driver for air cargo.
The
data firm pointed to figures showing that China’s B2C cross-border e-commerce
exports fell 11% year on year in April 2026 in aggregate, with exports to the
US down 33% and exports to Europe down 6%.
This
comes after the US scrapped its de minimis exemption for small parcels last
year. The European Union is following suit from July with a €3 charge, although
it is expected that this will have less of an impact than the US move last
year.
“The
expectation of a significant downward correction in rates that had been built
into the fourth quarter 2025 outlook has been overtaken by the disruption of
the first half of the year, making a full-year decline in rates now unlikely,”
Xeneta said. “A traditional third/fourth quarter peak season driven by
e-commerce is not expected.”
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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