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September 30 2019

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September 30 2019 | The Journal of Commerce 75 www.joc.com JOC By the Numbers Domestic intermodal spot rates from LA to Chicago Indian Subcontinent leads in growth of US reefer imports Source: Intek Freight & Logistics Source: IHS Markit © 2019 IHS Markit © 2019 IHS Markit Domestic US spot intermodal rates for all-inclusive, door-to-door 53-foot moves from Los Angeles to Chicago. These rates are based off the railroads' door-to-door intermodal rates shippers can expect to pay. Source: InTek Freight & Logistics. DECLINES: The rate from Los Angeles to Chicago for the week ended Sept. 9 fell $260 (9.1 percent) from the prior week to $2,585 per 53-foot container. The rate is down $440 (14.5 percent) year over year. The Sept. 9 spot rate reading is down $1,330 per 53-foot container (34 percent) from year-end 2018, and $180 (6.5 percent) below the 2019 high of $2,765 set Jan. 7. Laden TEU imports of refrigerated cargo to the United States with year-over-year change Growth in US imports of refrigerated (reefer) cargo slowed to 3.7 percent in the first half of 2019 from 4.6 percent in 2018, according to data from PIERS, a sister product of The Journal of Commerce within IHS Markit. The 19 percent growth in reefer imports from the Indian Subcontinent was not enough to offset the slower growth in Central America, which was down from 3.1 percent in the first half of 2018 to 1.7 percent in 2019. ■ YoY $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 9/19/2019 8/18/2018 ■ Jan-June 2018 ■ Jan-June 2019 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 Caribbean Other Indian Subcontinent Oceania Mediterranean South East Asia North Europe North East Asia West Coast South America Central America +1.7% +4.4% -5.9% +9% +8.8% +12% +4.3% +19% +12% +5.9% 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+ global lanes including Hong Kong-Los Angeles by surveying NVOCCs and also tracks contract rates on 8,000+ lanes via its BCO Benchmarking Club. INDEX FALLS: The Sept. 18, 2019, average spot market rate from Hong Kong to Los Angeles of $1,379 was down $44 (3.1 percent) from the prior week, and down $1,005 (42.1 percent) year over year. The Sept. 18, 2019, average spot rate was down $830 (37.6 percent) from the calendar 2019 high set in the third week of January, and down $1,502 (52.1 percent) from the Drewry benchmark record high of $2,880 per FEU on Aug. 6, 2012. ■ Rate per 40-foot box PERCENT CHANGE: ● Year-over-year ● Week-to-week $1,000 $1,500 $2,000 $2,500 $3,000 -50% 0% 50% 100% 150% 9/18/19 9/10/18 High: $2,880 8/6/12 Low: $623 4/25/16

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