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October 15 2018

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October 15 2018 | The Journal of Commerce 59 www.joc.com JOC By the Numbers Advertisers AirBridgeCargo, www.airbridgecargo.com .................. 43 Alabama State Port Authority, www.asdd.com .......... 37 Averitt, www.averittexpress.com/intermodal ............. 35 CONECT's 17th Annual Northeast Cargo Symposium, www.conect.org ................................................................ 47 Cosco Shipping, www.cosco-usa.com ........................... 9 Dunavant, www.dunavant.com ..................................... 57 Haropa, www.haropaports.com .................................... 15 Litco's Inca Export-Grade Pallets, www.litco.com/export-grade-pallets ............................ 45 PhilaPort, www.philaport.com ...................................... 13 Port of Baltimore, www.marylandports.com ................ 2 Port of Prince Rupert, www.rupertport.com ............... 39 Port of New York and New Jersey, www.portnynj.com ........................................................... 17 Port of Virginia, www.portofvirginia.com ..................... 23 Ports America, www.portsamerica.com ....................... 27 South Carolina Ports, www.scspa.com/supplychainauthority ....................... 64 Yang Ming, www.yangming.com ...................................... 5 JOC-ECRI Industrial Price Index China-Europe rail volume rocket Source: Economic Cycle Research Institute Source: EDB Centre for Integration Studies, China Railway Container Corp., Xinhua © 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. INCHES UP FROM YEAR-TO-DATE LOW: The JOC-ECRI Industrial Price Index for the week ending Sept. 28, 2018, recovered slightly from the year-to-date low of 103.37 set Sept. 14, rising 0.41 points to 103.78. The rate is 12.04 points below the 2018 high of 115.82 set Jan. 26. Total TEU volume recorded compound annual growth of 115 percent from 2013 to 2017 China-Europe rail volumes have rocketed since 2013, as shippers turn to the service because of its transit time advantages over ocean shipping, and cost advantages over air cargo. However, the breakneck growth has begun to tax infrastructure along the route, and shipping times have lengthened. Additionally, China's central government has signaled a willingness to reduce subsidies that have made the route affordable for shippers, but regional governments appear willing to pick up the slack. ■ IPI 90 95 100 105 110 115 120 9/28/2018 9/29/2017 0 50,000 100,000 150,000 200,000 250,000 2013 2012 2011 2014 2015 2016 2017 ■ China-Europe ■ Europe-China 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. SLIPS FROM YEAR-TO-DATE HIGH: The Sept. 28, 2018, average spot market rate from Hong Kong to Los Angeles of $2,327 was down $56 or 2.3 percent from the prior week and is up $906 or 63.8 percent year over year. The Sept. 28, 2018, average spot rate of $2,327 was down $56 or 2.3 percent from the calendar 2018 high set in the first week of September, while $553 or 19.2 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% 10/1/18 10/2/17 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16

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