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July 3, 2023

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July 3, 2023 | Journal of Commerce 51 www.joc.com By the Numbers Domestic intermodal spot rate from LA to Chicago US truckload spot rate increase for second consecutive week Source: InTek Freight & Logistics © 2023 S&P Global Domestic US spot intermodal rates of all-inclusive, door-to-door 53-foot moves from Los Angeles to Chicago. These rates are based on the door-to-door intermodal rates shippers can expect to pay to railroads. FALLS SLIGHTLY: The rate from Los Angeles to Chicago for the week of June 12, 2023, fell $10 (0.4%) from the prior week to $2,860 per 53-foot container. The spot rate reading was down $415 (12.7%) from year-end 2022 and $925 (24.4%) year over year. The average spot rate for dry-van transportation across the country experienced a significant decline, reaching $1.57 per mile on May 13. However, starting May 20, spot rates began to climb, indicating an upward trend in the dry-van transportation market. This positive trend has continued throughout May, with rates reaching $1.67 per mile and remaining at that level until June 20. USD $0 $1,000 $2,000 $3,000 $4,000 $5,000 06/12/23 06/06/2022 Drewry Hong Kong –Los Angeles Spot Rate Benchmark Source: Drewry's Container Freight Rate Insight © 2023 S&P Global The rate shown here is in US 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 non-vessel-operating common carriers and also tracks contract rates on 8,000-plus lanes via its BCO Benchmarking Club. CONTINUES TO DECREASE: The June 21, 2023, average spot market rate from Hong Kong to Los Angeles of $1,287 was down $75 (5.5%) from the prior week and $5,190 (80.1%) year over year. $1.50 $1.60 $1.70 $1.80 $1.90 $2.00 $2.10 11-Jun-22 09-Jul-22 06-Aug-22 03-Sep-22 01-Oct-22 29-Oct-22 26-Nov-22 24-Dec-22 21-Jan-23 18-Feb-23 18-Mar-23 15-Apr-23 13-May-23 10-Jun-23 Down 14% from June 2022 Rate per 40-foot box PERCENT CHANGE: Year-over-year Week-to-week $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 -100 0 100 200 300 400 500 600 06/21/23 06/08/2022 High: $8,585 01/05/2022 Low: $623 04/25/2016 Source: DAT Solutions © 2023 S&P Global

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