JUPITER SEA & AIR SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.

 

E-MAIL : Robert.sands@jupiterseaair.co.in   Mobile : +91 98407 85202

 

 

Corporate News Letter for  Monday  August  24,  2026

Today’s Exchange Rates

CURRENCY▲	PRICE	CHANGE	%CHANGE	OPEN	PREV.CLOSE
USD/INR	95.71	0.010002	0.010449	95.66	95.72
EUR/USD	1.1678	0.00	0.00	1.1678	1.1678
GBP/INR	130.6951	0.073196	0.056037	130.5338	130.6219
EUR/INR	111.984	-0.060402	-0.053909	111.8671	112.0444
USD/JPY	158.862	-0.188004	-0.118204	159.05	159.05
GBP/USD	1.3644	0.0013	0.095369	1.3631	1.3631
JPY/INR	0.6036	0.0004	0.066314	0.6018	0.6032

///                   Sea Cargo News            ///

MARAD invests in 45 small shipyards across 24 states

US Transportation Secretary Sean P. Duffy has announced that the Maritime Administration is delivering US$ 35.1 million in grants to 45 shipyards across 24 states and the US Virgin Islands, funding critical infrastructure upgrades and workforce development as part of efforts to restore American maritime industrial capacity.

The programme received a 300 percent increase in funding in 2026, attributed to President Trump’s Executive Order on Restoring America’s Maritime Dominance.

The grants support a range of targeted investments across the small shipyard sector. Gulf Marine Repair Corporation in Tampa, Florida, will receive US$ 1,007,678 for training centre equipment, wheel loaders and berth upgrades.

Robert E. Derecktor in Mamaroneck, New York, will receive US$ 1 million for an offshore marine crane.

Carlisle and Bray Hebron Shipyard in Hebron, Kentucky, will receive US$ 991,565 for a floating drydock.

Signet Maritime Corporation in Pascagoula, Mississippi, will receive US$ 387,745 for a plasma cutting table, welding tractors, a crane and a vertical tilt-frame bandsaw.

Safe Boats International in Bremerton, Washington, will receive US$ 321,474 for 17 welding machines to support an aluminium welding and fabrication training programme.

Secretary Duffy described small shipyards as once forming the backbone of American maritime industry and framed the investment as rekindling the country’s proud history of vessel construction.

MARAD Administrator Stephen Carmel highlighted the role of shipyard workers in driving the maritime economy and strengthening national readiness, describing the grants as supporting the Maritime Action Plan and the long-term future of American maritime capability.

Evergreen profit drops 36% in H1 2026

Evergreen container ships at Terminal 7 of Kaohsiung Port

Evergreen Marine Corporation reported significantly lower earnings for the first half of 2026, with both operating and net profit falling by more than a third.

The Taiwanese container carrier generated revenue of TWD 191.7 billion (US$6.02 billion) during the January-June period. Revenue declined 2.4% year-on-year in local-currency terms.

Operating profit fell 35.3% to TWD 28.3 billion (US$888 million), while net profit decreased 36.1% to TWD 25 billion (US$786 million).

Based on the converted US dollar figures, first-half revenue declined 11% from US$6.73 billion a year earlier. Operating profit dropped 41% from US$1.50 billion, while net profit also fell 41% from US$1.34 billion.

Evergreen’s operating margin consequently narrowed to 14.8% from 22.3% in the first half of 2025.

Q2 shows improvement

Evergreen’s second-quarter performance was considerably stronger than its overall first-half results.

Revenue stood at US$3.31 billion, slightly below the US$3.42 billion recorded in the second quarter of 2025.

However, operating profit reached US$609 million, broadly in line with US$615 million a year earlier. Net profit increased to US$514 million from US$504 million.

The operating margin improved to 18.4% from 16.7% in the second quarter of 2025.

The figures indicate that most of Evergreen’s year-on-year earnings deterioration occurred during the first quarter, while profitability recovered significantly in Q2.

Radicatel terminal handles Ariane 6 components

HAROPA PORT’s Radicatel terminal has handled a special logistics operation involving components for Europe’s Ariane 6 launch vehicle.

The vessel Canopée called at the terminal on 11 August 2026 for the transfer of heavy cargo between the ship and the river barge Obstiné.

Ariane 6 components transferred at Radicatel

Canopée arrived at Radicatel from Kourou, French Guiana, carrying several Ariane 6 components.

The cargo was unloaded using the terminal’s roll-on/roll-off ramp before being transferred to Obstiné. The barge will transport the components to ArianeGroup’s industrial site in Les Mureaux, France.

At the same time, other Ariane 6 components were moved in the opposite direction. They were transferred from Obstiné to Canopée before the vessel departed Radicatel.

The handling operations were carried out by Roll Manutention Services, part of the Katoen Natie Group.

The operation supports the movement of Ariane 6 equipment between industrial facilities in mainland France and French Guiana, where launch preparations take place.

Radicatel supports heavy cargo logistics

The operation also highlighted Radicatel’s capacity to accommodate specialized and heavy cargo movements.

Its infrastructure, including the ro-ro ramp, enabled the ship-to-barge transfer and provided a connection between maritime and inland waterway transport.

According to HAROPA PORT, the operation demonstrates the port complex’s ability to support large-scale logistics requirements for strategic industrial sectors, including the European space industry.

Hapag-Lloyd announces Genoa call omission on MSE service

Hapag-Lloyd has announced a change to its MSE service, with the MSC Le Havre MM633A set to omit its scheduled call at Genoa, Italy.

The vessel was originally scheduled to call at Genoa on 16 August 2026.

Import cargo to be rerouted via Livorno

According to Hapag-Lloyd, import cargo affected by the omission will instead be discharged at Livorno.

The cargo will then connect with the next MSE vessel, MSC Meline MM634A, which is scheduled to call on 22 August 2026.

Alternative arrangements for export cargo

For exports affected by the Genoa omission, Hapag-Lloyd said cargo will be loaded onto the first available vessels to provide updated routing and transit times.

Affected customers will receive revised booking confirmations with details of the respective loading vessel. The carrier also advised customers to adjust their documentation accordingly.

Gemini and Ocean Alliance expand Suez Canal routings

The Gemini Cooperation and Ocean Alliance are making further changes to their East-West networks, with additional services being routed through the Suez Canal, according to DynaLiners.

The Gemini Cooperation, comprising Maersk and Hapag-Lloyd, is routing another service via Suez with immediate effect.

The change concerns the Mediterranean-Far East SE4/AE19 service, which will now operate through the Suez Canal.

At the same time, Jeddah will be added to the service in both directions.

Gemini revises SE4/AE19 and SE3/AE15

Under the revised configuration, the SE4/AE19 rotation will be:

Port Said – Tangier – Port Said – Jeddah – Singapore – Tianjin – Qingdao – Busan – Ningbo – Shanghai – Tanjung Pelepas – Jeddah – Port Said.

Gemini is also adding Jeddah to its SE3/AE15 service, although on the westbound leg only.

The revised SE3/AE15 rotation will be:

Port Said – Damietta – Colombo – Singapore – Qingdao – Kwangyang – Ningbo – Tanjung Pelepas – Jeddah – Port Said.

The changes mean another Gemini operation is being routed through the Suez Canal.

Ocean Alliance returns FAL3 eastbound to Suez

Separately, the Ocean Alliance has started routing its CMA CGM-operated North Europe-Far East FAL3 service through the Suez Canal in the eastbound direction.

The Ocean Alliance comprises CMA CGM, COSCO Shipping/OOCL and Evergreen.

Westbound sailings, however, continue to operate via the Cape of Good Hope.

According to DynaLiners, the FAL3 rotation is:

Le Havre – Rotterdam – Hamburg – Antwerp – Tangier – Suez Canal – Port Kelang – Ningbo – Shanghai – Shenzhen (Yantian) – Singapore – Cape of Good Hope – Le Havre.

The latest adjustments add to ongoing changes in East-West service routings, with both Gemini and Ocean Alliance using the Suez Canal on the specified legs while retaining different routing arrangements across their respective networks.

Wan Hai nearly doubles net profit in H1 2026

                     WAN-HAI-A17: Source: VesselFinder

Wan Hai Lines reported a sharp increase in net profit for the first half of 2026, despite weaker operating earnings.

The Taiwanese container carrier generated revenue of TWD 76.5 billion (US$2.4 billion) during the January-June period, up 4% year-on-year in Taiwan dollar terms.

Operating profit reached TWD 17 billion (US$532 million), representing a 5% decline compared with the same period last year.

However, Wan Hai’s net profit nearly doubled to TWD 19.2 billion (US$603 million) in the first half of 2026.

Based on the US dollar figures provided, revenue stood at US$2.4 billion compared with US$2.46 billion a year earlier. Operating profit declined from US$613 million to US$532 million, while net profit jumped 79% from US$336 million to US$603 million.

The company recorded an operating margin of 22.2% for the first half, compared with 24.9% in the corresponding period of 2025.

Q2 profit surges

Wan Hai also delivered stronger profitability in the second quarter.

Revenue reached approximately US$1.35 billion, broadly in line with US$1.35 billion in the second quarter of 2025.

Operating profit increased to US$350 million from US$335 million, while net profit surged to US$363 million from US$73 million a year earlier.

The operating margin improved to 26% in Q2 2026 from 24.9% in the same quarter last year.

Gulftainer advances UAE trade corridor with Al Dhaid Logistics Hub

Gulftainer is developing a new logistics corridor connecting Khorfakkan Port with the Al Dhaid Multimodal Logistics Hub in Sharjah, UAE.

The project is designed to link maritime services with inland logistics and regional markets across the Gulf Cooperation Council (GCC).

The Al Dhaid hub will cover 150 hectares and offer capacity of 1.5 million TEUs. It will support container yards, breakbulk operations, warehousing and cold storage, according to project information released by Gulftainer.

Connecting Khorfakkan with regional markets

A key feature of the corridor is its connection with Khorfakkan Port on the UAE’s east coast.

Khorfakkan provides direct access to the Indian Ocean without requiring vessels to pass through the Strait of Hormuz. From the port, cargo can move inland through Al Dhaid towards industrial and consumer markets across the UAE and wider GCC region.

Gulftainer said the corridor will provide connectivity to UAE industrial zones as well as Saudi Arabia and Oman. The company also describes the project as part of what it says will be the largest bonded logistics ecosystem in the GCC.

Gateway to more than 60 million consumers

According to Gulftainer, the integrated corridor is positioned to provide access to a regional market of more than 60 million consumers.

The company is presenting the development as a way to strengthen supply chain resilience while improving connections between maritime gateways, inland logistics facilities and regional demand centres.

The project is also being developed with planned rail connectivity, adding another transport option to the road and maritime links forming the corridor.

Gulftainer said the development is intended to support growing trade flows while improving the scale, efficiency and resilience of logistics connections between global shipping networks and GCC markets.

///                   Air Cargo News            ///

Vietjet Air Cargo Strengthens Asia-Pacific Reach with Group Concorde

Vietjet Air Cargo is expanding its presence across the Asia-Pacific region by selecting Group Concorde to represent its cargo operations in Japan and Indonesia.

The partnership is expected to strengthen Vietjet Air Cargo’s sales and market coverage in two important Asian markets, supporting the airline’s efforts to grow cargo volumes and develop new business opportunities.

Group Concorde will work to promote Vietjet Air Cargo’s freight services among local shippers, freight forwarders and logistics partners. The appointment is also expected to improve access to Vietjet’s growing air cargo network and provide customers with additional routing options across Asia.

Japan and Indonesia are key markets for regional trade, with strong demand for the movement of electronics, automotive components, machinery, e-commerce shipments and other high value cargo.

The appointment of Group Concorde highlights Vietjet Air Cargo’s strategy of strengthening its commercial network through local partnerships as it continues to expand its footprint in the Asia-Pacific air freight market.

Navi Mumbai Airport Set to Boost Cargo Operations with 13 Freighter Airlines

Navi Mumbai International Airport is preparing to expand its air cargo operations, with 13 airlines expected to commence freighter services, strengthening the airport’s role in India’s growing air freight network.

The planned freighter operations will provide additional capacity for exporters and importers in Mumbai and the wider Maharashtra region. The airport’s location is expected to offer logistics companies and cargo operators improved access to major industrial, commercial and consumption centres.

The expansion will support the movement of a wide range of commodities, including pharmaceuticals, electronics, engineering products, perishables, automotive components and e-commerce shipments.

Increased freighter connectivity could also give businesses more options for moving time-sensitive cargo to international markets.

The development comes as India’s air cargo sector continues to benefit from rising International trade and growing demand for faster logistics solutions. Dedicated freighter services can complement belly-hold capacity available on passenger aircraft while improving cargo handling flexibility.

With 13 airlines expected to join its freighter network, Navi Mumbai International Airport is positioning itself as an important cargo gateway for the Mumbai metropolitan region and a potential hub for international air freight.

RIOgaleão Airport honors TAP Cargo

The Portuguese carrier’s cargo arm has been awarded the prestigious Logistics Efficiency accolade for the airline’s outstanding operational performance. It is already the third time in a row that TAP Cargo received the prize. The ceremony took place in Rio de Janeiro and brought together key players in the international supply chain who utilize the airport’s Tom Jobim cargo terminal.

Organized by RIOgaleão Airport, the Logistics Efficiency Program (PEL) recognizes companies in the sector that distinguish themselves with the exceptional performance of their processes, their operational reliability, and their contribution to a more agile, predictable, and integrated logistics chain.

     Rio de Janeiro airport applauds TAP Cargo for its outstanding                                         performance – picture: TAP

Three in a row

TAP Air Cargo earned this distinction for the first time in 2024, and the recognition was renewed in 2025. In 2026, it once again took first place in the Airline category, solidifying a track record of continuous improvement and a strong focus on service quality.

This recognition reflects the daily commitment of TAP Air Cargo’s teams to providing efficient, reliable, and customer-focused transportation solutions, contributing to the competitiveness of international trade and to the strengthening of air links between Portugal and Brazil, the laudator emphasized.

Brazil stands out

Brazil is the most important market for the Portuguese airline, both regarding passenger traffic between Portugal and South America and cargo transport. The airline offers 12 to 21 flights per week to Rio de Janeiro, depending on season. The service from its main hub in Lisbon includes 12 weekly nonstop flights to RIOgaleão, while, together with flights from Porto, the total number of weekly services reaches 21 or even more, depending on seasonality.

Except for the Embraer 190 and 195 variants, the carrier operates a uniform fleet of Airbus aircraft, including 22 A330-900neos which it deploys on long-haul routes. In addition to Brazil and other destinations in Latin and North America, the network includes the Portuguese-speaking countries in sub-Sahara Africa.

Flights between Lisbon and Curitiba were recently added to the itinerary, also served by A330-200. As of 26OCT26, the airline will connect Lisbon with São Luís do Maranhão. The city of 1.2 million in northeastern Brazil will then be served twice weekly by a long-range Airbus A321LR.

Too small to survive

In fiscal year 2025, TAP Air Portugal generated a net profit of €4.1 million, driven by their strong focus on passenger traffic (16.7 million pax) and the maintenance business. However, the annual results did not include the contribution from the cargo unit, nor was the total tonnage disclosed.

Because TAP is too small in the long run to compete with the major players, the state owner has decided to sell up to 49.9% to a strategic airline partner, with 5% of that stake reserved for employees. Recently, both Air France-KLM and the Lufthansa Group have submitted binding bids. Regardless of the outcome, the Portuguese state will retain majority control. A final decision is expected later this year.

Infrastructure Minister Miguel Pinto Luz said that a proposal of that nature was inherently complex and involved ​numerous factors. He did not elaborate on those factors, but the government ​has stated that bidders must commit to strengthening TAP’s operations and route network not only ‌at ⁠its Lisbon hub but also across Portugal’s nine other airports, including Porto, Faro in the Algarve, and the archipelagos of the Azores and Madeira.

Russia restructures aviation sector

The state-owned Rostec Corporation is moving forward with plans to consolidate various airlines under a single umbrella. Ilyushin Finance Co. is reportedly set to serve as the operator and administrator of the new holding company. Affected by the consolidation are the passenger airline Red Wings, its cargo subsidiary Sky Gates, the leasing company Aviacapital-Service, and various medical aviation assets. It is a step driven by hardship.

The operations of these carriers are at risk following Western sanctions, including the ban on spare parts and components for Boeing and Airbus jetliners. Consequently, the carriers’ ability to perform technical maintenance is severely hampered, if possible at all, as  CargoForwarder Global previously reported: (https://cargoforwarder.eu/2026/07/19/russia-keeps-grounding-aircraft/).

Other Russian airlines that are struggling commercially and operationally might follow suit and, should their situation deteriorate further, become part of the new holding. According to Rostec, the holding structure will make it easier to organize the exchange of components among the various airlines, thus reducing operational bottlenecks.

Citing intelligence reports, Ukrainian media identify Red Wings as one of the clearest examples of the Russian aviation sector’s problems. According to the country’s Foreign Intelligence Service (SZRU), the carrier can no longer sustain its charter operations. Of its three Boeing 777 aircraft, only one remains in service, while another has been grounded and the third is effectively out of operation.

   Rostec tabled a rescue scheme for Russian Airlines – photo: Rostec

Lower priority carriers play the third or fourth fiddle

The situation has reportedly been exacerbated by years of internal management disputes which have delayed key personnel decisions and contributed to the departure of experienced aviation specialists.

According to the SZRU, creating a single holding company will not resolve the underlying problems. Instead, it will merely redistribute already scarce resources, including funding, personnel, and spare parts, among struggling operators.

In practice, this means lower-priority carriers may be forced to sacrifice operations to keep more strategically important carriers in the air, predominantly the Aeroflot Group.
The Ukrainian intelligence service concludes that no corporate restructuring can restore access to Western aircraft components, accelerate domestic aircraft production, or reverse the ongoing loss of skilled personnel after years of crisis management.

Russian airlines are victims of Russia’s international situation 

Hard hit is also Russia’s cargo aviation sector which continues to contract amid shortages of engines and spare parts, extended maintenance cycles, and an aging fleet suffering from both a limited repair capacity and a shortage of qualified technicians. Since Russia’s Ukraine invasion, the industry has lost its cornerstone business of transporting cargo from the Far East to Europe via Russia, as evidenced by the decline of the once dominant freight carrier AirBridge Cargo.

Another victim of Russia’s imperialist policy is Sky Gates Airlines. Following the Ukraine invasion, their two leased B747-400F aircraft were transferred to Baku and listed in the Azerbaijani Civil Aviation Aircraft Registry with Silk Way West Airlines as their new operator. The latter has ceased all commercial operations in Russia, including overflights of Russian territory.

    Due to the shrinking fleets, Russia is forced to fall back on older              aircraft, such as this IL-96-400T, credit: Ilyushin Corp.

Ilyushin instead of Boeing freighters

After about 16 months of operational inactivity due to a lack of aircraft, Red Wings took over Sky Gates in the summer of 2023. Half a year later, in DEC23, Sky Gates received its first Russian-built freighter, a restored Il-96-400T cargo aircraft (tail number RA-96103).

It is operational since DEC25. Compared to the Boeing Jumbos, however, the Ilyushin burns significantly more fuel and emits more greenhouse gases, operational records evidence. Since the two Ilyushin freighters were manufactured in Russia – that’s the good news – Sky Gates at least no longer has to worry about being cut off from the supply of components and spare parts.

EU e-commerce rules start to bite into China-Europe air cargo

The first effects of the EU’s new rules for low-value e-commerce imports are becoming visible. Just weeks after Brussels introduced a €3 customs duty on consignments valued below €150, the first changes in China-Europe air cargo flows are emerging. Whether this will remain a short-term adjustment or develop into a more lasting shift remains open.

Since 01JUL26, low-value consignments entering the EU from outside the block have been subject to a temporary €3 customs duty per item. The measure replaces the previous duty exemption and is part of the EU’s wider effort to bring the rapidly growing e-commerce import flows under tighter customs control. The duty will apply until July 2028, when the EU’s new customs system for e-commerce is scheduled to take over (please view: https://cargoforwarder.eu/2026/08/02/munich-airport-bucks-the-e-commerce-downturn/ )

The possible impact on air cargo was already being discussed before the measure came into force. Air freight and logistics expert Steven Verhasselt told CFG in early July that e-commerce flows would likely see a short-term decline while logistics providers adjusted their processes and networks. He expected demand to pick up again towards the fourth quarter. (https://cargoforwarder.eu/2026/07/05/verhasselt-eu-e-commerce-fee-to-cause-brief-dip-only/)

Number of low-value e-commerce parcels coming into EU jumped by 26% in 2025 but are declining since 01JUL26 – Graphic: EU Commission

Markets reacted quickly

A few weeks on, there are now indications that the initial correction is indeed taking place. In a recent release published on 14AUG26, Liège airport states that the introduction of the European tax measure has profoundly altered the structure of imports. Consequently, the number of e-commerce parcels fell by 24% over the whole month of July compared with JUL2025 and by 41% compared with JUN2026:

Reuters reported on 27 July that direct China-Europe freighter capacity fell by 18% during the first 48 hours after the new duty came into effect. The decline moderated to 14% in the first full week. According to aviation consultancy Rotate, the impact was particularly pronounced in Belgium and Hungary, two important entry points for e-commerce imports. At the same time, freighter capacity into London’s Stansted Airport, outside the EU, increased by 25%.

First signs of traffic shifts

The figures point to an interesting development. Rather than simply disappearing, some e-commerce traffic may be looking for alternative routes into the European market. The shift towards a non-EU gateway such as Stansted illustrates how quickly logistics networks can respond when the cost and regulatory conditions change.

That does not necessarily mean that the EU measures will lead to a sustained decline in e-commerce-related air freight. In his interview with CFG, Verhasselt argued that the additional €3 cost and the end of the de minimis exemption would not have a long-term effect on volumes. Instead, he expected logistics providers and airports to use the summer months to adjust processes and prepare for the stronger demand traditionally expected towards the end of the year.

Brussels tightens its grip

The regulatory change is nevertheless significant. The €3 duty is only one element of the EU’s broader approach to low-value imports. Brussels has also been tightening customs controls and increasing scrutiny of goods entering the European market. The previous exemption had allowed consignments valued below €150 to enter the EU without customs duty; the new system removes that exemption and introduces the temporary flat-rate duty.

For airports and logistics providers with a strong exposure to e-commerce, the consequences could therefore extend beyond the amount of duty collected. Routing decisions, customs processes and the location of fulfilment operations may all become more important. If traffic can be shifted between EU and non-EU gateways, the competitive landscape between European cargo hubs could change as well.

The first weeks provide no final answer yet. But they do change the starting point of the discussion. What was still a forecast in early July is now beginning to show up in actual capacity adjustments.

The question for the coming months is whether the market will absorb the change as expected – or whether the new EU rules will leave a more lasting mark on the China-Europe e-commerce supply chain.

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.