Logistics Sector Intelligence Brief

'We don't look at the sky anymore': The Air India crash victims who were not on the plane Warning: The story contains details some readers might find distressing The photographs are the first thing Prahlod Thakur sees when he wakes up. They hang on the bright green peeling walls of his small Ahmedabad home, among religious icons, brass vessels and fading family portraits. One frame holds the face of his wife, Sarlaben. Another shows his granddaughter, Aadhya, wearing a white dress and smiling. Both of them were in the BJ Medical College hostel complex, less than 2km (1.2 miles) from the Ahmedabad airport, when an Air India plane crashed into it in June last year. There were 260 victims - 241 were on the plane. Sarlaben and Aadhya were among the 19 killed on the ground. A year later, the loss still feels fresh. "I just miss them," says Thakur. "I see the photos and feel like crying." Investigators are soon expected to release a report on the crash. Much of the attention over the past year has focused on the passengers aboard the London-bound flight and the unanswered questions surrounding its final moments. In Ahmedabad, another question lingers: what happens to a place after a catastrophe becomes part of its daily life? Unlike most disaster sites, where the scars eventually disappear, at BJ Medical College grief has become a permanent resident. A year on, the hostel struck by the plane still stands like an open wound. Its upper floors stand ripped open to the sky, concrete hangs in jagged slabs and a smoke-blackened staircase disappears into darkness. Soot streaks the walls, while suitcases and clothes remain buried beneath dust, rubble and twisted steel. Officials have approved plans to demolish the damaged

Nasdaq-listed Greek dry bulk owner Icon Energy is branching out beyond its core market, taking a minority stake in a feeder containership employed on a long-term charter. The Ismini Panagiotidi-led outfit has agreed to acquire about 5% of an entity being formed to purchase a 2,000 teu geared feeder vessel built in 2008. The ship will be chartered to an investment-grade liner operator at a fixed rate of $26,500 per day for a period of 24 to 26 months, generating minimum contracted revenue of about $19m over the charter period. The vessel is being acquired by a consortium of maritime investors led by an established containership owner and operator, which will also handle the ship’s commercial and technical management. Icon said the investment will be funded from cash on hand, with the transaction expected to close by the end of June, subject to customary conditions. The move marks the first disclosed transaction under what the company describes as an opportunistic co-investment strategy aimed at complementing its core dry bulk operations, where it currently counts three vessels. Rather than acquiring and operating vessels directly in other sectors, Icon said it intends to pursue selective minority investments alongside experienced shipping partners, allowing it to gain exposure to opportunities outside dry bulk while maintaining its existing business focus. The company added that future investments, if pursued, would be structured as passive, non-controlling positions and sized conservatively to preserve financial flexibility.

Trailer tech Mark Wallin, President and General Manager of Phillips Connect, highlighted how the dry van trailer is evolving from a basic asset into a highly intelligent, data-rich node on the supply chain. Beyond basic GPS tracking, fleets are rapidly adopting advanced sensors to monitor tire pressure, brake health and door-open events to combat cargo theft and improve roadside safety. Wallin noted that as the industry prepares for autonomous trucking, smart trailer capabilities –including cameras paired with AI to monitor volumetric cube utilization– will shift from a premium differentiator to a standard operational requirement. Fuel markets FreightWaves reporter John Kingston broke down the latest weekly Department of Energy diesel benchmark, which dropped 14 cents to land at $5.21 per gallon. This decline marks the third-lowest average price since the onset of the Iran war, mirroring broader downward pricing trends on CME ultra-low sulfur diesel contracts. Kingston noted that while gasoline often sees demand destruction from retail consumers, diesel demand remains rigid as commercial carriers must maintain their schedules to deliver essential goods regardless of price shifts. RXO reports rising spot demand as contract routing guides fail Corey Klujsza, vice president of pricing at RXO, joined the show’s “Capacity Now” segment to discuss how the accelerating freight market is placing unprecedented stress on traditional contract networks. As primary carriers increasingly reject contracted loads, shippers are seeing routing guide compliance deteriorate and are turning to spot providers for emergency coverage. Corey emphasized that spot brokerage operations are acting as a critical “911” service to keep shipper freight moving as tender rejections climb. Keep up with the latest news on FreightWaves Today FreightWaves Today livestreams weekdays at noon ET at http://tv.freightwaves.com/. Supply Chain AI Symposium Past the hype. Join operators, founders, and enterprise

Tanker S&P activity has been quiet in recent weeks, with many industry players tied up networking at Posidonia, but brokers in the Far East have still been busy. Sources tell Splash that Taiwanese owner Sincere Navigation is down to one VLCC, parting with its second VLCC this year. The company has parted with the 2011-built, 297,000 dwt VLCC Maxim, built by Jiangnan Shanghai Changxing Heavy Industry. No price has been attached to the deal. The last comparable sale came in March, when Sincere Navigation sold a sister vessel named Kondor, built in 2012, to Sinokor; the price tag for that deal was $78m. That tanker has since been renamed Madagascar Prosperity. Sources tell Splash that Sinokor, one of the most active players in the VLCC market, is also behind the latest deal. Founded in 1968, Sincere Navigation is one of Taiwan’s leading shipowners. The company is now left with one VLCC, the 2017-built Elbhoff. Ironically, that vessel was ordered in 2015 for around $95m and could now fetch about $15m more in today’s market.

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Hong Kong-based offshore and clean energy technologies provider CM Energy has unveiled a new class of construction and service operation vessel (CSOV). The so-called Meridian Class CSOV is a next-generation vessel platform specifically developed to meet the evolving requirements of the global offshore wind industry. The vessel is designed to North Sea standards and optimised for both operational performance and commercial efficiency. The Meridian Class has been developed to address the growing demand for high-performance offshore support vessels capable of supporting wind farm commissioning, operations, maintenance, and major component exchange campaigns. This vessel type will be available with a range of low-carbon propulsion solutions, including alternative fuel configurations and a fully electric option. These solutions provide vessel owners and charterers with greater flexibility in meeting corporate sustainability targets and future environmental regulations. “By combining proven offshore principles with innovative design and flexible commercial models, we believe the Meridian Class will set a new benchmark for value and performance within the offshore wind support vessel market,” said Shi Wei, assistant president and international director of CM Energy.

NEW DELHI: Flying is set to get more expensive, with oil marketing companies Tuesday increasing aviation turbine fuel (ATF) prices by 10% under the new price-stabilisation regime. ATF prices will remain frozen at this level for three years under the new regime. Jet fuel for domestic carriers will now cost Rs 115 per litre, up from Rs 105 per litre. Air fares may go up as oil marketing companies hike ATF prices by 10% | page 15 New Delhi: Flying is set to get more expensive, with oil marketing companies on Tuesday increasing aviation turbine fuel (ATF) prices by around 10% under the new price-stabilisation regime. The only relief is that ATF — which accounts for 60% of an airline’s operating costs — will remain frozen at this level for the next three years for domestic and international flights of Indian carriers that opt for the new mechanism. Jet fuel for domestic carriers will now cost Rs 115 per litre, up from Rs 105 per litre. Apart from higher operating costs due to the rupee’s fall and fuel price rise, airfares are under pressure due to airlines cutting flights on account of softening demand. The price-stabilisation mechanism is aimed at shielding airlines and passengers from sharp swings in global oil prices. Govt had announced the “price stabilisation support” mechanism last week. The Rs 10,000-crore scheme, however, will be optional. Carriers that do not opt for it will continue to pay market-linked prices, currently around Rs 142 per litre, similar to international airlines. Last week, Rohit Raj, director in the ministry of civil aviation, had said the benchmark price had been fixed as a one-time arrangement for three years. Under the scheme, govt will provide budgetary support in the form of an interest-free advance to oil marketing companies to compensate them for not passing on higher fuel costs to Indian carriers during periods of price spike.

The Suez Canal Authority (SCA) is raising additional transit surcharges for most vessel classes from July 15, increasing costs for tankers, gas carriers, bulkers and containerships using the strategic waterway. Under a series of newly issued navigation circulars, the Egyptian canal operator will increase temporary surcharges applied on top of standard transit dues, citing prevailing market conditions. The steepest increases will affect crude oil carriers and petroleum product tankers. Laden vessels in both segments will face a 37% surcharge on normal canal dues, up from 25%, while ballast vessels will see the surcharge rise from 15% to 27%. LPG carriers and chemical tankers will be subject to a 32% surcharge, compared with 20% previously, while LNG carriers will see their additional charge lifted from 7% to 19%. Dry bulk shipping is also affected, with surcharges for bulk carriers more than doubling from 10% to 22%. Containerships, one of the key vessel groups gradually returning to the Red Sea and Suez route, will face a 12% surcharge. The canal authority said the existing tier-based surcharge structure for container vessels will remain unchanged. Elsewhere, general cargo, heavy-lift, ro-ro and other vessel categories will see surcharges increase to 26% from 14%, while vehicle carriers will face a 26% surcharge on northbound voyages and 12% on southbound transits. Passenger ships are the only category unaffected by the latest revisions. The revised surcharge regime will apply to vessels commencing transit on or after July 15. The SCA said the additional fees are based on its assessment of maritime market conditions and may be amended or cancelled depending on future developments. The surcharges are temporary measures implemented by the SCA, whereas the underlying tariff structure remains permanent. The base tariff has not been adjusted since 2024.

The Middle East crisis has hit the way Indian Railways prepares its meals for trains. A sharp shortage of commercial LPG cylinders has prompted the Indian Railway Catering and Tourism Corporation (IRCTC) to restart onboard meal preparation in moving trains. The practice had been discontinued several years ago. This time, however, cooking is being carried out using electric induction stoves. The shortage emerged after disruptions to energy supplies moving through the Strait of Hormuz, a critical route for oil and gas exports from West Asia, following the outbreak of the US-Israel conflict with Iran on February 28. To maintain catering services across 1,400 trains serving around 1.7 million meals daily, the railway catering arm has begun preparing food inside Linke Hofmann Busch (LHB) pantry cars using electricity. Induction-based cooking facilities have also been installed at major railway stations. Most premium services, including Rajdhani, Shatabdi, Duronto and Vande Bharat trains, operate with LHB coaches. Also Read | With better than Rajdhani experience & 160 kmph speed, can Vande Bharat sleeper trains be a game-changer for Indian Railways?IRCTC brings back cooking on board trains IRCTC Chairman and Managing Director Sanjay Kumar Jain told ET that vendors have been permitted to cook inside pantry cars, which are already equipped with safety infrastructure. As a result, LHB pantry cars are now capable of preparing meals onboard while trains are in motion using electric power. Jain added that induction cooking has also been introduced at large stations. He further said IRCTC has coordinated with Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) to ensure priority supply in line with government directives. Railway officials said the nationwide catering network requires about 1,000 commercial LPG cylinders every day to run cluster kitchens, base kitchens and other food service facilities. In response to t

Malaysian offshore vessel owner Keyfield International has acquired a 2014-built anchor handling tug supply (AHTS) vessel for $7.35m (RM29.6m) in cash, as part of its fleet expansion strategy. The vessel, to be renamed Keyfield Joyful, previously operated in Indonesia, Australia, Singapore, and Bangladesh. It is expected to be deployed in the second half of 2026 to capitalise on strong charter demand. Keyfield plans to invest between $740,000 and $1m to upgrade the vessel’s capabilities, converting it to DP2, increasing its bollard pull, and accommodation capacity. Darren Kee, Keyfield’s CEO, said the acquisition would immediately expand Keyfield’s AHTS capacity and enable the company to pursue new tenders and spot charter opportunities without affecting existing commitments. The company has recently deployed three AHTS vessels to the Middle East. The rationale behind the acquisition also targets an anticipated supply shortage of AHTS vessels with a bollard pull below 80 tonnes in Malaysia’s OSV sector. With this acquisition and three vessels under construction due for delivery in 2027 and 2028, Keyfield expects to increase its owned fleet from 14 to 18 vessels by 2028.