On Gateway
By the Numbers
An extensive , multi-channel , interactive freight shipping dashboard can be found at www . joc . com / gateway / about .
US imports rally on trans-Atlantic
Containerized US imports from North Europe , in TEUs , with year-over-year change
TEU volume
248,175 20 %
200,000
150,000 100,000 100,000
50,000
10 %
0 %
-40 -10%
-20 %
-30 %
Year-over-year % change
On Gateway
Despite widespread sentiment throughout much of last year that 2024 would be weak for US imports , the opposite is happening . US imports from Europe in the first quarter jumped 10 % and inbound volumes from Asia are up 33 % compared to the same period in 2023 . Track the import rebound on various trade lanes on Gateway .
0 |
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-40% |
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Apr
L
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Jul |
Oct |
Jan 2023 |
Apr |
Jul |
Oct
Dec
Jan , 2023 2024
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Apr |
TEU |
Year-over-year % change |
Source : PIERS , S & P Global © 2024 S & P Global
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 holds steady at low level
Weekly truckload spot rates per mile excluding fuel surcharges . DAT Freight and Analytics reports a downward trend in the average contracted freight rates for dry-van transportation . The rates have been steadily decreasing since the beginning of the year . As of April 13 , 2024 , the spot rate stood at $ 1.54 per mile , the lowest of 2024 and a 3.6 % decline from the same period last year .
$ 1 . 8 0 $ 1 . 7 5 $ 1 . 7 0 $ 1 . 6 5 $ 1 . 6 0
D ow n 3 . 8 % f rom A pril 2023
$ 1 . 5 5 |
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$ 1 . 5 0
13 - M a y- 23
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10- Jun- 23 |
08 - Jul- 23 |
05 - A ug - 23 |
02- Sep- 23 |
3 0- Sep- 23 |
28 - Oct- 23 |
25 - N ov - 23 |
23 - D ec- 23 |
20- Ja n- 24 |
17 - F eb- 24 |
16 - M a r- 24 |
3 0- A pr- 24 |
Source : DAT Solutions © 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 .
BOUNCES BACK : The April 24 , 2024 , average spot market rate from Hong Kong to Los Angeles of $ 3,288 per FEU was up $ 275 ( 9.1 %) from the prior week and $ 1,792 ( 119.8 %) year over year . The April 24 , 2024 , average spot rate was down $ 1,962 ( 37.4 %) from the 2024 calendar high set in the last week of January .
$ 6 , 000 $ 5 , 000 $ 4,000 $ 3 , 000 $ 2,000 $ 1,000
Rate per 40-foot box PERCENT CHANGE : Year-over-year Week-to-week
H ig h : $ 8 , 5 8 5 03 / 02 / 2022 L ow : $ 6 23 04 / 25 / 2016
5 00 400
3 00 200 100 0
$ 0
10 / 19 / 2022
Source : Drewry ’ s Container Freight Rate Insight
- 100
04 / 24 / 2024
© 2024 S & P Global
42 Journal of Commerce | May 6 , 2024 www . joc . com