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December 10 2018

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December 10 2018 | The Journal of Commerce 55 www.joc.com JOC By the Numbers Advertisers Alabama State Port Authority, www.asdd.com ........... 20 Averitt Express, www.averittexpress.com ..................... 51 CenterPoint, www.centerpoint.com .............................. 27 Cosco Shipping, www.cosco-usa.com ............................ 5 CP, www.cpr.ca ..................................................................... 2 Georgia Ports, www.gaports.com ................................... 23 Hamburg Sud, www.hamburgsud-line.com ............... 64 Jump Start 19, www.smc3jumpstart.com .................... 53 Ocean Network Express, www.one-line.com ............... 31 Port Canaveral, www.portcanaveral.com ..................... 39 Port Everglades, www.porteverglades.net ................... 35 Port of Baltimore, www.marylandports.com ............... 63 Port of Long Beach, www.polb.com .............................. 25 Port of Vancouver, www.portvancouver.com/echo ........................................ 9 Seaboard Marine, www.seaboardmarine.com ............................................. 37 SMC3, www.smc3.com ..................................................... 49 TOTE Maritime, www.totemaritime.com ...................... 21 WERC 2019, www.werc.org/2019 .................................... 41 Yang Ming Line, www.yangming.com ............................ 29 JOC-ECRI Industrial Price Index Bunker fuel prices stabilize 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 UP: The JOC-ECRI Industrial Price Index for the week ending Nov. 16, 2018, was up to 99.37, increasing 0.56 points from the prior week. The rate is 16.45 points below the 2018 high of 115.82 set Jan. 26. Average cost of IFO 380 bunker fuel at Shanghai, Rotterdam, and New York-New Jersey Aer rising at at a breakneck pace in the spring, and jumping again in October, the average price of bunker fuel across the ports of Shanghai, Rotterdam, and New York-New Jersey has since stabilized and moved in a narrow range, costing $462 per ton as of Nov. 21. The price of bunker for the month of October was $486 per ton, an increase of 45 percent from October 2017. ■ IPI 90 95 100 105 110 115 120 11/16/2018 11/24/2017 350 370 390 410 430 450 470 490 510 2-Apr 16-Apr 30-Apr 14-May 28-May 11-Jun 25-Jun 9-Jul 23-Jul 6-Aug 20-Aug 3-Sep 17-Sep 1-Oct 15-Oct 29-Oct 12-Nov ■ Price per metric ton 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. HOLDS STEADY: The Nov. 26, 2018, average spot market rate from Hong Kong to Los Angeles of $2,652 remains flat from the prior week and is up $1,481 or 126.5 percent year over year. The Nov. 26, 2018, average spot rate of $2,652 remains flat from the calendar 2018 high set in the second week of November while $228 or 7.9 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 $3,000 -50% 0% 50% 100% 150% 11/26/18 11/6/17 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16

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