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August 28 2023

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August 28, 2023 | Journal of Commerce 51 www.joc.com By the Numbers Domestic intermodal spot rate from LA to Chicago US truckload spot rate continues to decline 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. INCHES UP: The rate from Los Angeles to Chicago for the week of Aug. 14, 2023, ticked up $30 (1%) from the prior week to $3,010 per 53-foot container. The spot rate reading was down $265 (8.1%) from year-end 2022 and $610 (16.9%) year over year. Weekly truckload spot rates per mile excluding fuel surcharges. The average spot rate for dry-van transportation reached its highest point of the year the first week of July. However, since that year-to-date high, spot rates have consistently decreased. In the week of Aug. 5, 2023, pricing dropped 1 cent (0.6%) compared to the previous week to $1.59 per mile. USD $0 $1,000 $2,000 $3,000 $4,000 $5,000 08/14/2023 08/01/2022 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. STRENGTHENS: The Aug. 16, 2023, average market spot rate from Hong Kong to Los Angeles of $2,125 per FEU was up $100 (4.9%) from the prior week but down $3,093 (59.3%) year over year. $1.50 $1.60 $1.70 $1.80 $1.90 $2.00 $2.10 Down 17% from Aug. 2022 6-Aug-22 3-Sep-22 1-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 8-Jul- 23 5-Aug-23 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 08/16/2023 08/17/2022 High: $8,585 01/05/2022 Low: $623 04/25/2016 Source: DAT Solutions © 2023 S&P Global

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