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November 11 2019

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November 11 2019 | The Journal of Commerce 43 JOC By the Numbers Domestic intermodal spot rates from LA to Chicago Different directions in growth of US imports from Asia regions Source: InTek Freight & Logistics Source: IHS Markit © 2019 IHS Markit © 2019 IHS Markit Domestic US spot intermodal rates of 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. HITS NEW YEAR-TO-DATE HIGH: The rate from Los Angeles to Chicago for the week ended Oct. 28 rose $90 (3.4 percent) from the prior week to a new 2019 high of $2,775 per 53-foot container, but the rate is still down $1,350 (32.7 percent) year over year. The Oct. 28 spot rate reading is down $1,140 (29 percent) from year-end 2018. The US-China trade war is causing chaos in Asian markets and investment uncertainty, but there are potential winners from the US-China showdown. Countries in Southeast Asia are becoming big winners from the shis in production and investment away from China. In the first nine months of 2019, China's exports to the US fell 7.2 percent from a year earlier, but exports from Asia to the US excluding China rose 11 percent. ■ YoY $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 10/28/2019 10/1/2018 ■ Total US imports from Asia ■ US imports from Asia (minus China) ■ US imports from China -10% -5% 0% 5% 10% 15% 2015vs2014 2016vs2015 2016vs2017 2017vs2018 2019vs2018 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. SPIKES: The Oct. 30, 2019, average spot market rate from Hong Kong to Los Angeles of $1,643 per FEU was up $295 (21.9 percent) from the prior week but still down $928 (36 percent) year over year. The Oct. 30, 2019, average spot rate was down $566 (25 percent) from the calendar 2019 high set in the third week of January, and down $1,238 (43 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% 10/19/19 10/22/18 High: $2,880 8/6/12 Low: $623 4/25/16

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