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April 1 2019

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April 1 2019 | The Journal of Commerce 43 www.joc.com JOC By the Numbers Advertisers JOC-ECRI Industrial Price Index Asia-to-Europe container volume growth accelerates Asia demand drives US resin exports Source: Economic Cycle Research Institute Source: CTS Source: IHS Markit © 2019 IHS Markit © 2019 IHS Markit © 2019 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 NEW YEAR-TO-DATE HIGH: The JOC-ECRI Industrial Price Index for the week ending March 15, 2019, was 97.48, increasing 0.215 points from the prior week to set a new high for 2019. TEU volume of European imports from Asia with year-over-year change Asia-to-Europe container volume continued increased 9.7 percent year over year in January to 1.6 million TEU, according to Container Trade Statistics. Compared to December 2018, Asia to Europe trade increased 8.1 percent. The strong performance underscores the volume volatility that defines the trade, and was owed in part to the need of shippers to ship cargo ahead of factory closings for the Lunar New Year in Asia. TEU volume of US exports of synthetic resins with year-over-year change The US resin export boom finally materialized in 2018, with total volume of synthetic resins up 14.1 percent year over year. Growth would have likely been stronger if not for trade tensions with China that pulled down US resins exports to the country 4.3 percent. ■ IPI 90 95 100 105 110 115 120 3/15/2019 3/16/2018 1,100,000 1,200,000 1,300,000 1,400,000 1,500,000 1,600,000 1,700,000 Jan-19 Dec-18 Nov-18 Oct-18 Sep-18 Aug-18 Jul-18 Jun-18 May-18 Apr-18 Mar-18 Feb-18 +30.4% -13% +1.6% +9.7% ■ TEU -2.5% +6% +1.8% -1.9% +1.3% -0.4% +6.9% +1.4% 50,000 150,000 250,000 350,000 450,000 550,000 650,000 750,000 +0.8% +1.9% +5.4% +17.5% +14.1% +14.9% +13.6% -0.5% -8.8% -7.6% -1.8% -4.3% ■ US exports to Asia ■ US exports ■ US exports to China 2018 2017 2016 2015 2014 Drewry Hong Kong-Los Angeles Spot Rate Benchmark Source: Drewry Shipping Consultants © 2019 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 TO NEW YEAR-TO-DATE LOW: The March 20, 2019, average spot market rate from Hong Kong to Los Angeles of $1,345 was down $8 or 0.6 percent from the prior week and is up $154 or 12.9 percent year over year. The March 20, 2019, average spot rate of $1,345 was down $864 or 39.1 percent from the calendar 2019 high set in the third week of January while $1,536 or 53.3 percent below the Drewry benchmark record high of $2,880 per FEU of Aug. 6, 2012 ■ Rate per 40-foot box $500 $1,000 $1,500 $2,000 $2,500 $3,000 -100% -50% 0% 50% 100% 150% 3/20/19 3/19/18 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16 Cosco Shipping, www.cosco-usa.com ............................ 2 Evergreen Line, www.evergreen-line.com .................... 21 Flexport, www.flexport.com/joc ............................... 32-33 IANA Intermodal Expo, www.intermodalexpo.com ...... 9 Logistics Development Forum, www.logisticsdevelopmentforum.com ........................ 37 Northwest Seaport Alliance, www.nwseaportalliance.com/service ........................... 25 PhilaPort, www.philaport.com ......................................... 7 Port of Long Beach, www.polb.com .............................. 19 Port of Prince Rupert, www.rupertport.com ................ 23 Ports America, www.portsamerica.com ....................... 26 Yang Ming Line, www.yangming.com ............................ 48

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