The effects on freight procurement of the airspace closure following Russia's invasion of Ukraine are spreading. A series of flights have been canceled on Japanese and European air routes, and airlines are taking alternative routes to avoid the airspace over Russia. According to the Ministry of Land, Infrastructure, Transport, and Tourism, there have been about 140-150 round-trip flights per week between Japan and Europe, including cargo flights. According to All Nippon Airways (ANA/NH), the flight time from Narita to Brussels via Central Asia is about 15.5 hours, a 30% increase from the previous route. The change in route may increase fuel and labor costs, leading to higher fares. In fact, air freight rates from Japan to Europe have doubled since before the invasion of Ukraine.
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Ocean freight rates increased in Korea (+2.8% week-on-week), via the East Coast of North America (+0.4%), and via the West Coast of North America (+2.2%). Decreased in Europe (-3.8%).
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