TAC Index is pleased to announce that an air freight rate index for general cargo from Europe to Japan is now available on the TAC Index website.
Japan is one of the largest export markets from Europe, with the EU exporting more than 70 billion Euros of goods to Japan in 2022. The TAC Index data now empowers participants in this trade lane with real-time insights into air freight rates, aiding strategic decision-making in this dynamic market.
Air freight rates from Europe to Japan have been particularly impacted by exogenous risk factors and this is reflected in the volatility of the air cargo prices over the past 4 years. In 2020 rates tripled due to the impact of Covid. Then in 2022 rates were impacted again by Russia’s invasion of Ukraine. This led to air freight costs doubling due to the closure of Russian air space causing flights to be rerouted or cancelled, significantly reducing available capacity.
While air freight rates from Europe to Japan have declined significantly from the peak in 2022, they still sit comfortably above the pre-Covid levels.