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October 1 2018

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October 1 2018 | The Journal of Commerce 67 www.joc.com JOC By the Numbers Advertisers Clean Energy, www.cleanenergyfuels.com .................. 63 CN, www.cn.ca ................................................................... 71 Cosco Shipping, www.cosco-usa.com .......................... 21 CP, www.cpr.ca ................................................................... 45 Evergreen, www.evergreen-line.com ............................... 5 Georgia Ports, www.gaports.com ................................... 37 HMM, www.hmm21com ................................................... 27 Matson, www.matson.com .............................................. 39 Ocean Network Express, www.one-line.com ............... 35 OOCL, www.oocl.com ....................................................... 17 Port Houston, www.porthouston.com .......................... 57 Port of Baltimore, www.marylandports.com ............... 41 Port of Long Beach, www.polb.com .............................. 65 Port of Prince Rupert, www.rupertport.com ................ 43 Port of San Diego, www.portofsandiego.org/cargo .... 61 Port of Vancouver, www.portvancouver.com ................ 9 Seaboard Marine, www.seaboardmarine.com ............ 25 South Carolina Ports, www.scspa.com ........................... 2 TOTE Maritime, www.totemaritime.com ...................... 23 Yang Ming, www.yangming.com ..................................... 72 JOC-ECRI Industrial Price Index New orders give Evergreen Line largest container ship order book Source: Economic Cycle Research Institute Source: IHS Markit © 2018 IHS Markit © 2018 IHS Markit The JOC-ECRI Industrial Price Index was developed by the Economic Cycle Research Institute (ECRI) and is a leading indicator of inflation based on a broad assortment of raw materials used in industrial production. HITS FRESH YEAR-TO-DATE LOW: The JOC-ECRI Industrial Price Index for the week ending Sept. 14, 2018, set a new year-to- date low of 103.37 as the index fell 0.46 points from the prior week. The rate has fallen for the last two weeks and is 12.45 points below the 2018 high of 115.82 set Jan. 26. The 10 largest container ship order books by operator as of Aug. 15 Evergreen Line's new orders for 36 vessels are noteworthy not because they come at a time of growing uncertainty on the trans-Pacific trade resulting from trade tensions with China and the United States, but because of the size of ships: 2,500-TEU and 1,800-TEU. An order of such magnitude for vessels of that size points to the health of the intra-Asia container trade, and also smaller regional trades elsewhere in the world, even as the major east-west trades such as Asia-Europe and the trans-Pacific are defined by overcapacity. ■ IPI 90 95 100 105 110 115 120 9/14/2018 9/15/2017 0 100,000 200,000 300,000 400,000 500,000 600,000 Maersk Line Ocean Network Express Eastern Pacific Shipping Hyundai Merchant Marine Yang Ming Line Zodiac CMA CGM COSCO Shipping MSC Evergreen Line ■ TEU Drewry Hong Kong-Los Angeles Spot Rate Benchmark Source: Drewry Shipping Consultants © 2018 IHS Markit The rate shown here is in 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 NVOCCs and also tracks contract rates on 8,000-plus lanes via its BCO Benchmarking Club. HITS NEW YEAR-TO-DATE HIGH: The Sept. 17, 2018, average spot market rate from Hong Kong to Los Angeles of $2,383 was flat with the prior week and is up $812 or 51.7 percent year over year. The Sept.17, 2018, average spot rate of $2,383 was even with the calendar 2018 high set in the first week of September, while $497 or 17.3 percent below the Drewry benchmark record high of $2,880 per FEU of Aug. 6, 2012. ■ Rate per 40-foot box $0 $500 $1,000 $1,500 $2,000 $2,500 -50% 0% 50% 100% 150% 9/17/18 9/18/17 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16

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