Subdued Rangebound Action continues for Air Cargo Index, even ... - India Shipping News

Air-freight prices have increased slightly, with the Freightos Air Index (FAX) reaching USD 2.54/kg-all-in as of July 24, 2023. However, this is only 5% higher than the lowest recorded levels and likely influenced by the higher price of fuel. The opening up of belly capacity has caused a significant drop in prices, affecting both passenger craft and air-freighters. Rates for South Asia-North America, South Asia-Europe, and South Asia-Latin America and the Caribbean are USD 2.97/kg-all-in, USD 1.7/kg, and USD 4.42/kg respectively. The IATA predicts a 22-28% decrease in global cargo yield for 2023. Jet fuel prices have surpassed USD 100/bbl due to strong crude oil prices.

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