On Gateway
By the Numbers
An extensive , multi-channel , interactive freight shipping dashboard can be found at www . joc . com / gateway / about .
Economic uncertainty stifles domestic rate increases
Average spot rates for US truckload and domestic intermodal rail , in USD per mile
USD per mile
$ 3.5 |
|
|
|
|
$ 3.0
$ 2.5
$ 1.0 $ 2.0
|
|
|
|
$ 1.5 |
|
|
|
|
Jan
L 2022
|
Jul |
Jan 2023 |
Jul
Aug , 2023
|
Spot Truckload Shipper Rates |
Spot Intermodal Shipper Rates |
Source : Journal of Commerce Intermodal Savings Index |
© 2024 S & P Global |
L
On Gateway
Domestic carriers are hoping they can raise rates on shippers in the second half of the year , but they admit there is too much economic uncertainty to expect anything other than a tepid market environment for at least the next three months . Spot market rates for domestic intermodal have fallen in recent months while rates for truckload have flatlined , as reflected by the Intermodal Savings Index . Other truck and rail price indices and performance metrics are available on Gateway .
The Gateway ( www . joc . com / gateway ) is an online shipping dashboard of more than 140 continuously updated charts from S & P Global and identified external data sources organized by trade lane , mode and topic .
US truckload spot rate hits new year-to-date high
Weekly truckload spot rates per mile excluding fuel surcharges . The average contracted freight rates for dry-van transportation rose in January , reaching another year-todate high during the last four weeks of January 2024 . As reported by DAT Freight and Analytics , the spot rate on Jan . 20 , 2024 , was $ 1.75 , up 2.3 % from the previous week but down 3.3 % from the corresponding period a year ago .
$ 1 . 85 |
D own 3 . 3 % f r om J a n . 2023 |
$ 1 . 80 |
|
|
|
|
|
|
|
|
|
|
$ 1 . 75 |
|
|
|
|
|
|
|
|
|
|
$ 1 . 70 |
|
|
|
|
|
|
|
|
|
|
$ 1 . 65 |
|
|
|
|
|
|
|
|
|
|
$ 1 . 60 |
|
|
|
|
|
|
|
|
|
|
$ 1 . 55 |
|
|
|
|
|
|
|
|
|
|
|
$ 1 . 50
18- F e b - 23
Source : DAT Solutions
18- M a r - 23
|
15- A p r - 23 |
13- M a y - 23 |
10- J u n - 23 |
08- J u l - 23 |
05- A u g- 23 |
02- S e p - 23 |
30- S e p - 23 |
28- O c t - 23 |
25- N ov - 23 |
23- D e c - 23
20- J a n - 24
© 2024 S & P Global
|
Drewry Hong Kong – Los Angeles Spot Rate Benchmark
The rate shown here is in US dollars and excludes terminal-handling charges in Hong Kong . Drewry tracks spot rates on 600-plus global lanes including Hong Kong – Los Angeles by surveying non-vessel-operating common carriers ( NVOs ) and also tracks contract rates on 8,000-plus lanes via its BCO Benchmarking Club .
SPIKES : The Jan . 31 , 2024 , average spot market rate from Hong Kong to Los Angeles of $ 5,250 per FEU , was up $ 1,025 ( 24.3 %) from the prior week and $ 4,050 ( 337.5 %) year over year . On Jan . 31 , 2024 , the average spot rate reached its highest value in the past 12 months .
$ 6000 $ 5000 $ 4000
$ 3000 $ 2000 $ 1000
Rate per 40-foot box PERCENT CHANGE : Year-over-year Week-to-week
High : $ 8,585 03 / 02 / 2022 Low : $ 623 04 / 25 / 2016
500 400 300 200 100 0
$ 0
10 / 19 / 2022
Source : Drewry ’ s Container Freight Rate Insight
- 100
01 / 31 / 2024
© 2024 S & P Global
42 Journal of Commerce | February 12 , 2024 www . joc . com