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August 14 2023

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August 14, 2023 | Journal of Commerce 59 www.joc.com By the Numbers Domestic intermodal spot rate from LA to Chicago US truckload spot rate holds steady Source: InTek Freight & Logistics © 2023 S&P Global Domestic US intermodal spot 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. TICKS HIGHER: The rate from Los Angeles to Chicago for the week of July 31, 2023, was up $25 (0.9%) from the prior week to $2,935 per 53-foot container. The spot rate reading was down $340 (10.4%) from year-end 2022 and $735 (20.3%) year over year. The average spot rate for dry-van transportation has shifted from a downtrend to an uptrend starting from May 2023. In the last week of May and continuing into July, spot rates remained stable in comparison to the first half of the year, reaching a peak of $1.68 on July 1, 2023. The current spot rate indicates a decrease of 30 cents (15%), when compared to the same week in the previous year. USD $0 $1,000 $2,000 $3,000 $4,000 $5,000 07/37/23 07/04/2022 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 (NVOCCs) and also tracks contract rates on 8,000-plus lanes via its BCO Benchmarking Club. MAKES GAINS: The Aug. 2, 2023, average spot market rate from Hong Kong to Los Angeles of $2,025 per FEU was up $313 (18.2%) from the prior week and down $3,949 (66.1%) year over year. 23-Jul-22 20-Aug-22 17-Sep-22 15-Oct-22 12-Nov-22 10-Dec-22 07-Jan-23 04-Feb-23 04-Mar-23 01-Apr-23 29-Apr-23 27-May-23 24-Jun-23 22-Jul-23 $1.50 $1.60 $1.70 $1.80 $1.90 $2.00 $2.10 Down 15% from July 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 08/02/23 08-03/22 High: $8,585 01/05/2022 Low: $623 04/25/2016 Source: DAT Solutions © 2023 S&P Global

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