JUPITER SEA & AIR
SERVICES PVT. LTD, EGMORE – CHENNAI, INDIA.
E-MAIL : Robert.sands@jupiterseaair.co.in Mobile : +91 98407 85202
Corporate News
Letter for Thursday August 27, 2026
Today’s
Exchange Rates
|
CURRENCY▲ |
PRICE |
CHANGE |
%CHANGE |
OPEN |
PREV.CLOSE |
|
|
95.41 |
0.339996 |
0.355088 |
95.72 |
95.75 |
|
|
|
1.1673 |
0.0009 |
0.077163 |
1.1664 |
1.1664 |
|
|
|
130.176 |
-0.356201 |
-0.272884 |
130.4673 |
130.5322 |
|
|
|
111.3366 |
-0.343399 |
-0.307485 |
111.6143 |
111.68 |
|
|
|
159.2 |
0.089996 |
0.056562 |
159.11 |
159.11 |
|
|
|
1.3642 |
0.001 |
0.07336 |
1.3632 |
1.3632 |
|
|
|
0.599 |
-0.0028 |
-0.465279 |
0.6018 |
0.6018 |
|
/// Sea Cargo News ///
Port of Los Angeles recorded cargo decrease
The Port of Los Angeles processed 960,464 TEUs in July 2026, 6% below last year’s all-time July record, when businesses surged cargo ahead of anticipated trade policy changes, the result stood 7.5% above the port’s five-year average for the month.
Loaded imports reached 499,552 TEUs, down 8% compared to last year’s record month but 6% above the five-year July average, reflecting resilient consumer demand and continued opportunistic cargo movement by businesses responding to the evolving trade environment.
Loaded exports totalled 111,776 TEUs, down 8% year-on-year, while empty containers declined 2% to 349,137 TEUs.
Through the first seven months of 2026, the Port of Los Angeles has handled 6,083,067 TEUs, 1.8% ahead of the same period last year.
Port Executive Director Gene Seroka noted that after topping 1 million container units in June, the port nearly reached that mark again in July, with businesses continuing to move cargo when they identify windows of opportunity.
He projected another strong month in August while cautioning that some cargo which traditionally arrives later in the season has already moved, with consumer demand remaining the most critical variable for the balance of the year.
Seroka confirmed the port has the capacity and operational readiness to handle additional volume should shifting global trade routes bring more cargo to Los Angeles.
£232 million cocaine haul seized at London Gateway Port
UK authorities have seized almost three tonnes of cocaine at London Gateway Port in Essex as part of a National Crime Agency (NCA) investigation.
The 2.9-tonne shipment, with an estimated street value of £232 million, was discovered on Thursday after Border Force officers acted on intelligence provided by the NCA.
The cocaine was concealed within a shipment of bananas from South America.
Container tracked after drugs removed
Following the discovery, authorities removed the cocaine from the shipment. The container was then allowed to continue its journey.
It was later collected and delivered to a location near Buntingford, Hertfordshire.
Nine men were subsequently arrested in connection with the investigation. They were later released on bail.
NCA targets organised crime network
Dave Phillips, NCA senior investigating officer, described the seizure as significant and said it had deprived the organised crime group behind the shipment of substantial profits.
“This is a very significant seizure which has deprived the organised crime group behind it of huge profits,” said Phillips.
“That is money that cannot be ploughed back into further crime.”
He added that the NCA would continue working with Border Force and international partners to combat Class A drug trafficking.
The investigation remains ongoing.
UAE halts all trade and financial transactions with Iran
The UAE Ministry of Foreign Affairs (MoFA) announced the decision amid escalating regional tensions.
The move comes only days after the UAE accused Iran of attacking vessels linked to Abu Dhabi National Oil Company (ADNOC) in the Strait of Hormuz.
UAE cites regional escalation
Afra Al Hameli, Director of the Strategic Communications Department at MoFA, announced the suspension while addressing the status of economic relations between the UAE and Iran.
Al Hameli reaffirmed the UAE’s commitment to dialogue, cooperation and regional integration. She said these principles remain important for promoting peace and stability in the region.
However, she pointed to regional escalations that threaten regional and international peace and security.
As a result, all trade and commercial exchanges with Iran have been halted. The suspension also covers financial transactions.
The measures will remain in place until further notice.
The UAE also reaffirmed its commitment to protecting the integrity of the international financial system. According to MoFA, the country will continue to act in line with international law and global standards.
Tensions rise after Strait of Hormuz incidents
The announcement follows a series of maritime incidents in the Strait of Hormuz.
On 15 August, Reuters reported that the UAE had accused Iran of attacking an ADNOC vessel while it was transiting the strait a day earlier.
ADNOC said no injuries were reported and the situation was under control.
According to Reuters, it was the third incident involving ADNOC vessels in less than a week. The UAE had also accused Iran of being responsible for the earlier incidents.
Following the latest attack, the UAE Foreign Ministry called on Tehran to halt what it described as unprovoked attacks. It also urged Iran to end hostilities and fully reopen the Strait of Hormuz.
Iran had not immediately commented on the UAE’s latest accusation, according to Reuters.
Meanwhile, the United Kingdom Maritime Trade Operations (UKMTO) had reported that a bulk carrier was struck by an unknown projectile in the Strait of Hormuz on 14 August. However, it was not immediately clear whether this was the same incident involving the ADNOC vessel.
The latest UAE decision marks a significant escalation in economic relations between Abu Dhabi and Tehran. However, the official announcement did not provide details about how the trade and financial restrictions will be implemented or whether exemptions will apply.
UAE rejects reports of financial facilities for Iran – UPDATE
Separately, UAE presidential diplomatic adviser Anwar Gargash rejected reports that the country was providing financial facilities to Iran.
Gargash described such claims as false and part of what he called “desperate media campaigns.”
He also rejected reports that the UAE was cancelling labor residencies.
This keeps the two developments clearly separated and avoids implying that the residency issue is part of the official trade suspension.
HJSC records surge in operating profit in first half of 2026
HJ Shipbuilding and Construction reported a strong earnings turnaround in the first half of 2026, with consolidated revenue of KRW 1.2713 trillion, operating profit of KRW 89.4 billion and net profit of KRW 88.1 billion.
Compared to the same period last year, which produced revenue of KRW 917.8 billion, operating profit of KRW 10.8 billion and a net loss of KRW 1.1 billion, revenue grew 38.5 percent while operating profit surged more than eightfold and the company returned firmly to profitability.
The shipbuilding division was the primary driver of the improved performance. Construction of eco-friendly, high-value-added container ships gained momentum in the commercial vessel business, while the special-purpose vessel segment including defence vessels contributed stable profitability.
Shipbuilding division revenue reached KRW 678.6 billion, up 75.5 percent from KRW 386.6 billion in the same period last year, with operating profit of KRW 81.7 billion driving the overall result.
An HJSC official attributed the performance to years of disciplined focus on profitable orders, construction efficiency improvements and cost reduction, describing the first-half results as the fruit of those sustained efforts.
The company expressed confidence in continued growth in the second half through securing orders for eco-friendly, high-value-added vessels in the shipbuilding division and maintaining a stable construction portfolio, with a focus on enhancing long-term competitiveness and shareholder value.
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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