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November 12 2018

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November 12 2018 | The Journal of Commerce 51 www.joc.com JOC By the Numbers Shanghai Containerized Freight Index rate per TEU Growth on the Asia-Europe trade lane slowed to 0.1 percent year over year through August, which led spot rates on the trade to slump during the peak-season month of September. Advertisers Alabama State Port Authority, www.asdd.com ........... 33 Cosco Shipping, www.cosco-usa.com ............................ 2 CP, www.cpr.ca ................................................................... 56 Jump Start 19, www.smc3jumpstart.com .................... 43 Litco's Inca Export-Grade Pallets, www.litco.com/export-grade-pallets ............................. 19 North Carolina Ports, www.ncports.com ...................... 55 Ocean Network Express, www.one-line.com ............... 31 PhilaPort, www.philaport.com ....................................... 47 Port Authority of New York and New Jersey, www.portnynj.com ............................................................ 49 Port of Baltimore, www.marylandports.com ............... 21 SMC3, www.smc3.com ....................................................... 9 South Carolina Ports, www.scspa.com ........................... 5 TOTE Maritime, www.totemaritime.com ...................... 18 Yang Ming, www.yangming.com ..................................... 25 JOC-ECRI Industrial Price Index Decline in US wastepaper exports accelerates 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. INCHES DOWN TO NEW YEAR-TO-DATE LOW: The JOC-ECRI Industrial Price Index for the week ending Oct. 26, 2018, set a new year-to-date low of 101, decreasing 1.91 points from the prior week. The rate is 14.81 points below the 2018 high of 115.82 set Jan. 26. US exports of wastepaper with year-over-year change China's decision to implement a ban on waste imports has led volume to plummet, with US wastepaper exports at the lowest level since 2014. Now, with China's door closed, the ban will force the US to find new ways to deal with its trash, while exporters continue to search new markets, having found the most success in India and parts of Southeast Asia, such as Vietnam. ■ IPI 90 95 100 105 110 115 120 10/26/2018 10/27/2017 700,000 750,000 800,000 850,000 900,000 950,000 1,000,000 1,050,000 2018 2017 2016 2015 2014 -6.4% +6.4% -9.7% -10.6% ■ TEU $550 $600 $650 $700 $750 $800 $850 $900 $950 $1,000 10/26/18 4/16/18 ■ Shanghai-North Europe ■ Shanghai-Mediterranean 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. FLAT: The Oct. 29, 2018, average spot market rate from Hong Kong to Los Angeles of $2,571 was flat with the previous week and is up $900 or 53.8 percent year over year. The Oct. 29, 2018, average spot rate of $2,571 held steady at the year-to-date high first set Oct. 15, while the rate is $310 or 10.8 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% 10/29/18 10/23/17 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16 Asia-Europe spot rates hover around $700 © 2018 IHS Markit Source: Shanghai Shipping Exchange

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