JUPITER SEA & AIR
SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91 98407 85202
Corporate News Letter for Wednesday July 01, 2026
Today’s
Exchange Rates
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PRICE |
CHANGE |
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PREV.CLOSE |
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94.66 |
0.110001 |
0.116341 |
94.57 |
94.55 |
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1.1413 |
-0.0009 |
-0.078798 |
1.1422 |
1.1422 |
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125.3 |
0.338905 |
0.271209 |
125.1526 |
124.9611 |
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107.8963 |
0.0933 |
0.086547 |
107.8032 |
107.803 |
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162.4 |
0.459991 |
0.284051 |
161.94 |
161.94 |
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1.3242 |
-0.0016 |
-0.120675 |
1.3258 |
1.3258 |
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0.5832 |
-0.0006 |
-0.102782 |
0.5838 |
0.5838 |
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/// Sea Cargo News ///
Maersk Tankers Names
First Next-Generation VLAC/VLGC ‘Jane Maersk’ in South Korea
Maersk Tankers has marked a significant milestone in its gas shipping expansion with the naming of Jane Maersk, the first vessel in a new series of ten Very Large Ammonia Carriers (VLACs) and Very Large Gas Carriers (VLGCs) currently under construction.
The naming ceremony was held in Mokpo, South
Korea, and attended by customers, industry partners, and company
representatives. Mrs. Mika Takahashi served as the vessel’s Godmother during
the event. The vessel’s name carries historic significance for the company.
Maersk’s involvement in gas shipping began in
1972 with the entry of Inge Maersk, an LPG and ammonia carrier. In 1990, the
company expanded into the large gas carrier segment with a new generation of
Korean-built vessels, the first of which was also named Jane Maersk.
The newly named vessel has been designed to
transport both Liquefied Petroleum Gas (LPG) and Ammonia, reflecting growing
demand for flexible gas transportation solutions. The design is intended to
serve current LPG trade requirements while also supporting the development of
emerging Ammonia based energy and fuel markets.
Jane Maersk is the first vessel in a planned
fleet of ten new build VLAC/VLGC vessels, reinforcing Maersk Tankers’ long term
commitment to the gas shipping sector and the evolving global energy
transition.
Ship Insurers Brace
for Major Claims Following Iran War, Allianz Warns
Global marine insurers are preparing for significant claims linked to vessel damage sustained during the Iran conflict, with some cases potentially resulting in total losses of ships, according to Allianz SE.
In its latest shipping safety review, Allianz
said it has already begun receiving claims related to the conflict,
highlighting the growing financial impact on the maritime insurance sector
after months of disruption in the Persian Gulf.
The insurer did not disclose the expected
value of claims but warned that losses could be substantial given the scale of
assets exposed during the crisis.
The conflict severely disrupted one of the
world's most important maritime trade corridors, with Allianz estimating that
vessels and cargo worth approximately $125 billion were trapped in the Persian
Gulf as of June 15.
More than 1,200 Cargo ships were affected by
the prolonged disruptions around the Strait of Hormuz, a strategic chokepoint
through which a significant share of global energy and commodity trade normally
passes.
The war exposed commercial vessels to
unprecedented security risks. Several Tankers and merchant ships suffered
damage during attacks and military operations in the region, while mariners
faced heightened dangers amid missile, drone and naval threats.
Industry estimates indicate that dozens of
vessels were struck during the conflict, prompting a sharp escalation in
war-risk insurance premiums and forcing ship owners to reassess Gulf trading
patterns.
War risk premiums surged dramatically as
underwriters sought to price in the possibility of vessel damage, cargo losses
and business interruption. Some insurers temporarily withdrew coverage for
voyages into the region, while others imposed stricter underwriting
requirements.
Although shipping activity has gradually
resumed following efforts to stabilize the region, Allianz said the conflict
has funda mentally altered perceptions of maritime risk in major global
chokepoints.
The insurer noted that what had long been
viewed as a theoretical worst-case scenario for the Strait of Hormuz became a
real-world test of the resilience of global trade and marine insurance markets.
The episode is expected to remain a defining
event for the shipping industry with insurers, ship owners and cargo interest
facing potentially billions of dollars in claims and higher long term costs
associated with operating in geopolitically sensitive waters.
Strait of Hormuz
Traffic Rebounds, But Remains Far Below Pre-War Levels
Shipping activity through the Strait of Hormuz is showing early signs of recovery after months of disruption caused by regional conflict, according to market intelligence from S&P Global Commodity Insights.
Benjamin Tang, Director and Global Head of
Liquid Bulk, Commodities at Sea at S&P Global Commodity Insights, said
vessel movements through the strategic oil chokepoint have risen to around 30
transits per day, up from just 12 during the conflict period.
However, volumes remain significantly below
the roughly 135 daily transits recorded before the war. The Strait of Hormuz,
which handles a substantial share of global crude oil and LNG exports, has been
closely watched by energy markets as geopolitical tensions disrupted shipping
flows and raised concerns over supply security.
Indian refiners have emerged among the
biggest beneficiaries of supply diversification efforts, successfully
increasing purchases from Russia, Brazil, West Africa and the United States to
offset disruptions in Gulf crude supplies.
Signs of normalization are also becoming
visible in tanker and LNG markets. Ship-tracking data indicates that several
stranded super tankers have resumed transit through the Strait, while multiple
Qatar-linked LNG carriers have re-entered the waterway, suggesting a gradual
restart of Gulf gas exports.
Further supporting market, sentiment,
negotiations between the US and Iran have advanced, with both sides reportedly
agreeing on a framework aimed at reaching a broader agreement within 60 days.
The US decision to grant a sanction waiver until August has eased concerns over
global oil and LNG supply availability.
Analysts expect additional crude cargoes
delayed in the Gulf during the conflict to begin moving in the coming weeks.
The easing of sanctions restriction is also expected to encourage more
Iranian-linked tankers to return to export routes, potentially boosting
regional oil flows and placing further down ward pressure on global energy
prices.
While the recovery signals improving
confidence among shipowners and traders, industry participants caution that a
full return to pre-war traffic levels in the Strait of Hormuz will depend on
sustained geopolitical stability and the successful implementation of ongoing
diplomatic efforts.
Indian Oil Fails to
Attract Shipowners for Hormuz Crude and LPG Liftings Amid Security Concerns
State-run Indian Oil Corporation has reportedly received no bids for three vessel charter tenders issued to transport crude oil and liquefied petroleum gas (LPG) cargoes from ports located within the Strait of Hormuz, highlighting continued caution among shipowners despite the recent easing of geopolitical tensions in the region.
According to trade sources, Indian Oil had
sought to charter a Very Large Crude Carrier (VLCC), a Suez-max tanker, and a
Very Large Gas Carrier (VLGC) for loading cargoes from key Gulf export
terminals.
However, vessel owners refrained from
participating, citing uncertainty over navigation risks and insurance
conditions in the strategically important waterway.
A shipbroker familiar with the market said
that many owners remain in a "wait-and-watch" mode, preferring
greater clarity on security arrangements and operating conditions before
committing vessels to the region.
The tenders included :
A VLGC to load around 45,000 tons of LPG
between June 30 and July 04 from Ras Laffan Port - Qatar, Mina Al Ahmadi –
Kuwait or Ruwais – UAE.
A VLCC to lift crude oil from Mina Al Ahmadi
between July 07 and 10.
A Suezmax tanker to load crude from Ras Al
Khafji between July 04 and 07 for delivery to India’s West Coast.
Indian refiners, including Indian oil,
largely procure Middle Eastern crude oil and LPG on free-on-board (FOB) basis,
making vessel chartering a critical component of their supply chain.
The absence of bids underscores the lingering
impact of recent tensions around the Strait of Hormuz, through which a
significant share of global oil and LPG exports passes & signals that
shipping markets remain cautious despite diplomatic efforts to stabilize the
region.
New Five
Year Plan calls for Shanghai’s growth as shipping centre
GT Lines has launched Gulf Connect, a new intra-Gulf shipping network designed to strengthen regional connectivity across the GCC and Iraq.
The network consists of three dedicated
service loops offering regular sailings and integrated connections through
Gulftainer’s regional terminal network.
The services include :
Sharjah Iraq Express (SIX) : Sharjah – Umm Qasr – Shuwaikh – Sharjah.
Sharjah KSA Express (SKX) : Sharjah – Dammam – Saharjah.
Sharjah Qatar Express (SQX) : Sharjah – Hamad – Bahrain – Sharjah.
The announcement comes as GT Lines recorded a
milestone with two dedicated vessel calls at Gulftainer’s Umm Qasr Iraq
Commercial Terminal, further strengthening its Iraq service offering.
According to Gulftainer, the new Gulf Connect
Network will provide multiple weekly sailings, optimized transit times and
seamless cargo flows across key Gulf markets, including Iraq, Kuwait, Saudi
Arabia, Qatar and Bahrain.
The company said the network leverages
connectivity through Sharjah and Khorfakkan ports to offer customers a flexible
and reliable solution for regional trade and supply chain operations.
BV classes
CMA CGM’s first 24,000 TEU LNG dual-fuel mega ship
Bureau Veritas (BV) has classed CMA CGM NOTRE DAME, the first vessel in CMA CGM’s new series of 24,000 TEU LNG Dual-Fuel Ultra Large Container Ship (ULCS) built by Jaingsu Yangzi Xinfu Ship Building, China.
The vessel was delivered in May 2026 and
marks a milestone for Chinese Ship Building in the construction of next
generation mega containerships.
Measuring 399.9 Meters in length and 61.3
meters in beam, CMA CGM NOTRE DAME can carry 24,092 TEUs. The vessel is powered
by an LNG Dual-fuel propulsion system designed to reduce emissions of sulphur
oxides, nitrogen oxides and carbon dioxide.
BV worked closely with the Shipyard and
designers during the project. The classification society reviewed key design
elements including structural reinforcement and vessel lay-out.
Bureau Veritas Solutions Marine &
Offshore (BVS) also carried out hull optimization work to improve cargo
capacity and energy efficiency, while conducting safety assessments of the LNG
Fuel tank arrangement.
During construction, BV Surveyors inspected
critical processes including large thin plate welding, shaft alignment and the
installation of the LNG fuel storage and fuel gas supply systems.
BV said the project highlights its growing
cooperation with both CMA CGM and Yangzi Xinfu on advanced and lower emission
vessel programmes.
More than 200 vessels in CMA CGM’s fleet are
currently classed by BV, while over 50 additional vessels are under
construction under BV classification including LNG dual-fuel and methanol
powered ships.
MSC
updates Europe rates
MSC has announced new Freight All Kinds (FAK) rates for cargo moving from South Asia to Europe, effective from July 01, 2026 until further notice, but no later than July 31, 2026.
The revised pricing covers shipments from Sri
Lanka, Bangladesh, India and Pakistan to the European gateways of Antwerp and
Valencia.
For Cargo originating from Colombo and
Chattogram, rates to Antwerp will start at USD 2050 per 20ft container while
40ft equipment will be priced between USD 2350 and USD 2850, depending on the
origin.
From India and Pakistan, rates to Europe will
range from USD 3650 to USD 4050 per container, depending on the port pair. The
highest rates applied to shipments from Kolkatta to Valencia, while cargo from
Nhava Sheva and Port Qasim will start at USD 3650 and USD 3750 to Valencia.
MSC said the announced rates include the base
ocean freight, contingency adjustment charges, piracy risk surcharges and
emission control area charges. Additional costs including Bunker recovery
charges, emissions-related surcharges, FuelEU charges, Terminal Handling Fee
and security related charges, will continue to apply additionally.
The revised rates are part of MSC’s latest
pricing update for the South Asia – Europe trade lane as carriers continue
adjusting freight levels amid changing operating costs and regulatory
requirements.
/// Air Cargo News ///
Ben Gurion Airport cargo down 12.75%
YTD as market stabilises in May
Air cargo volumes at Ben Gurion International Airport remained below last year’s levels during the first five months of 2026, although May showed signs of stabilisation.
The
airport handled 30,888 tons of cargo in May, down 1.6% from 31,391 tons in the
same month of 2025. Despite the modest monthly decline, cargo volumes for the
first five months of the year reached 134,677 tons, a 12.75% decrease compared
2ith 154,372 tons during the same period last year.
The
monthly trend highlights a volatile start to 2026. Cargo volumes increased
11.1% in January and 15.0% in February. They then fell sharply in March before
improving in April and returning close to 2025 levels in May.
Dedicated
freighters remained the backbone of cargo operations. Freighter aircraft
carried 22,892 tons, representing almost 74% of total cargo handled during the
month. Passenger aircraft transported the remaining 7,996 tons.
Inbound
cargo on passenger aircraft increased 10.1% year on year to 4,373 tons.
Outbound passenger cargo, however fell 11.1% to 3,623 tons.
Among
dedicated cargo operators, C.A.L. Israeli Cargo remained the largest carrier.
The Airline handled 8,814 tons, accounting 38.5% of all freighter cargo despite
a 5.6% year-on-year decline.
Kalitta
Air ranked second with 3,052 tons, emerging as a significant operator during
the month.
European
Air Transport handled 2,839 tons, while El Al Israel Airlines increased its
freight cargo volume by 22.7% to 2,697 tons.
On
passenger aircraft, El Al continued to dominate belly cargo with 5,621 tons
representing more than 70% of the total.
Etihad
Airways recorded the strongest growth among passenger airlines. The carrier
increased belly cargo volumes by 192.4% year-on-year to 1,272 tons.
Belgium
remained Ben Gurion Airport’s largest cargo market for dedicated freighters
with 5,663 tons, followed by Germany with 4,726 tons and China with 3,523 tons.
Although
year to date volumes remain below 2026 levels, the May results indicate that
cargo throughput has moved closer to last year’s performance after the sharp
decline recorded earlier in 2026.
Cathay Pacific Reports Another Rise in
Air Cargo Volumes in May
Cathay Pacific has reported continued growth in its air cargo operations, with freight volumes increasing again in May as demand for air transportation remains strong.
The
airline’s cargo performance was supported by steady trade activity, improved
market conditions, and ongoing demand for international air freight services.
The
increase reflects continued momentum across key cargo routes served by Cathay’s
global network. Cathay Cargo has been focusing on expanding capacity,
strengthening connectivity, and improving operational efficiency to meet
changing customer requirements in the air freight market.
The
latest growth comes as the aviation logistics sector continues to recover, with
businesses relying on air cargo for faster movement of high-value,
time-sensitive, and critical shipments.
Cathay
is expected to continue enhancing its cargo network to support rising demand
and strengthen its position in global air freight markets.
SFO Expands Air
Freight Capacity With New Cargo Terminal Project
San Francisco International Airport (SFO) is set to expand its air cargo capacity with the development of a new cargo terminal featuring advanced handling technology from Lödige Industries.
The
new facility is designed to improve freight processing efficiency, strengthen
cargo operations, and support growing demand for international air logistics
services.
The
project will introduce modern cargo handling solutions aimed at increasing
operational flexibility and improving the movement of goods through the
airport.
The
investment reflects SFO’s efforts to upgrade its air freight infrastructure and
enhance its role as a key gateway for global trade, particularly for
time-sensitive and high-value shipments.
With
improved technology and expanded capacity, the new terminal is expected to help
airlines, logistics providers and cargo operators manage increasing freight
volumes more efficiently.
The
project highlights the continued focus among major airports on modernising
cargo facilities to meet evolving supply chain needs and support future air
freight growth.
UPS Strengthens
Healthcare Supply Chain With Advanced Cold Chain Facilities
UPS is expanding its healthcare logistics capabilities with advanced temperature-controlled cross-dock facilities designed to support the growing demand for reliable medical and pharmaceutical shipments.
The
new cold chain infrastructure will help improve the handling, storage, and
movement of temperature-sensitive healthcare products, including medicines,
vaccines, and other critical supplies requiring strict environmental controls.
The
facilities are expected to enhance supply chain efficiency by reducing transfer
times, improving shipment visibility, and maintaining product integrity
throughout the logistics process.
UPS
said the investment reflects the increasing need for specialised healthcare
transportation solutions as global healthcare supply chains become more complex
and demand higher levels of reliability.
The
expansion strengthens UPS’s position in healthcare logistics by combining
temperature-controlled operations with its broader global transportation
network to support faster and safer delivery of essential healthcare products.
Vietnam Airlines
Strengthens Air Cargo Connectivity Across the Pacific
Vietnam Airlines is expanding its air cargo capabilities across the Pacific through enhanced cooperation with ECS, aimed at improving freight connectivity and supporting growing demand for international shipments.
The
collaboration is expected to strengthen Vietnam Airlines’ cargo network by
providing more efficient access to transpacific markets and improving logistics
solutions for businesses moving goods between Asia and North America.
The
partnership will focus on increasing cargo opportunities, supporting customer
requirements, and enhancing the airline’s position in the competitive global
air freight market.
With
rising demand for cross-border trade and time-sensitive shipments, Vietnam
Airlines continues to invest in expanding its cargo operations and
strengthening links with key global logistics partners.
The
move reflects the airline’s broader strategy to grow its international freight
presence and provide more flexible solutions for exporters, importers and
supply chain operators.
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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