Lean Energy Co., Ltd. (LE) announced the transition of air cargo fares reflecting the April-Jun 2022. This index is calculated originally by LE using the bidding data conducted by LE's international logistics platform e-Bid Freight and other external sources.
TC3 to TC1 Air freight remained at historically high levels, but fell slightly during the quarter. The max range price was 4.914, halting a record that had been set for seven consecutive months. The mid range price declined as well, while the low range price rose slightly. Freight rates fell slightly as a result of the lockdown in China, which reduced freight demand.
TC3 to TC2 The max range price fell for the three consecutive month, while the mid and min range prices also declined during the quarter. Both cargo demands and capacities have been weak since the Ukraine crisis. The air freight decline in the region was the largest among all regions.
Japan to TC3 The maximum range price was 4.663 which is the highest record in the past 2 years. Because of the lockdown at Shanghai areas, both cargo and passenger flights were significantly reduced in the quarter. Air freight rose despite these conditions due to strong cargo demand from the semiconductor industry.
TC3 to Japan All 3 indexes rose slightly and remained at high levels. Both cargo and passenger flights between Japan and the PVG airport were reduced significantly due to the lock down at Shanghai area. Cargo demands recovered and it air freight rose slightly during the quarter.
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Index calculation method
This index was calculated originally by LE using the bidding data conducted by LE's international logistics platform e-Bid Freight and other external sources.
TC1,2,3 are based on the regional divisions defined by IATA, TC1 refers to the Americas (North America, Central America, South America), TC2 refers to Europe, the Middle East, African Continent, and TC3 refers to Asia.
The index is calculated based on the total amount of Airfreight plus Fuel Surcharge and Security Surcharge.
Max range is high price range, Mid range is median range, Min range is low price range
2020 2Q (April-June 2020) is the time to expand COVID19 and may be omitted due to lack of valid data.
Midrange of 2020 1Q is set 1 as an indicator for each index