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June 09, 2014

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www.joc.com THE JOURNAL OF COMMERCE 81 JOC By the Numbers ■ IPI ● Growth Rate 115 120 125 130 -10% 0% 10% 20% 5/30/14 5/31/13 *As of Jan. 1 2008, the index was reconstructed with 2006 base year natural gas added and polyester dropped. Source: Economic Cycle Research Institute, www.businesscycle.com JOC–ECRI INDUSTRIAL PRICE INDEX* n The JOC-ECRI Industrial Price Index was developed by the Economic Cycle Research Institute (ECRI) and is a leading indicator of inflation based on a broad assortment of raw materials used in industrial production. The IPI growth rate compares the latest week's index with the IPI's average over the past year. In the week ending May 30, 2014, the JOC-ECRI index sequentially slipped 0.0178 point to 129.4655, in its second week of consecutive decline following the highest index level since the week ending Sept. 23, 2011, at 129.9286. The May 30, 2014, index achieved a 7.3771 percent growth rate, sequentially slipping 0.1599 percentage point while in its 24th consecutive week in positive growth. ■ Rate per 40-foot box $1,250 $1,500 $1,750 $2,000 $2,250 -40% -20% 0% 20% 40% Year-over-year Week-over-week 6/2/14 6/3/13 PERCENT CHANGE: ● Year-over-year ● Week-to-week DREWRY CONTAINER RATE BENCHMARK n The Hong Kong-Los Angeles benchmark is based on Drewry Shipping Consultants' research and derived from NVOCCs. The rate is in dollars and based on a full 40-foot containerload, excluding terminal-handling charges in Hong Kong. The June 2, 2014, average spot market rate from Hong Kong to Los Angeles was the year-to-date low at $1,750 per FEU, $50 or 2.8 percent below the week before, and $207 or 10.6 percent below the same period last year. While the average spot rate was just $64 or 3.8 percent above the 2013 low of $1,686 per FEU in mid-December, it was $336 or 16.1 percent less than the year-to-date 2014 high, and $1,131 or 39.3 percent below the Drewry record high of $2,880 per FEU of Aug. 6, 2012. This benchmark's weekly year-over-year results have been consecutively negative since April 15, 2013. Source: Drewry's Container Freight Rate Insight, www.drewry.co.uk ADVERTISERS American Independent Line, www.aishipping.com .................................................24 Atlantic Ro-Ro Carriers, www.arrcm.com .....................43 C.H. Robinson, www.accelerateyouradvantage.com ..................... 48-49 Cosco Container Lines Americas Inc., www.cosco-usa.com ....................................................5 Emirates SkyCargo, www.skycargo.com ........................13 Florida East Coast Railway, www.fecrwy.com ............. 88 Florida Ports Council, www.flaports.org .......................65 Hamburg Sud, www.hamburgsud-line.com ..................35 Jacksonville Port Authority, www.jaxport.com ..............69 Mediterranean Shipping Co., www.mscgva.ch ...............2 MOL, www.countonmol.com .................................. 44-45 Nordana Line, www.nordana.com ............................... 41 Port Canaveral, www.portcanaveral.com/joc ................ 61 Port Metro Vancouver, www.portmetrovancouver.com ..................................87 Port of Greater Baton Rouge, www.portgbr.com .......... 37 Port of Mobile, www.asdd.com ....................................42 Port of Portland, www.portofportland.com ...................23 Port of Prince Rupert, www.rupertport.com..................25 Port of Seattle, www.portseattle.org ............................. 21 Port of Tacoma, www.portoftacoma.com .....................26 Port Tampa Bay, www.porttb.com ................................79 Portus, www.portus-us.com ......................................... 71 Railex, www.railex.com/joc .......................................... 73 Ryder, www.ryder.com .................................................75 Sea Star Line, www.seastarline.com ............................. 77 Specialized Carriers & Rigging Association, www.scranet.org/affinity ............................................55 Yang Ming Line, www.yangming.com ..........................39 ■ Average U.S. IMC highway yield ● Month to month percent change ■ Drewry East-West Air Freight Price Index: May 2012 = 100 ● Average $ rate per kilogram $1,300 $1,350 $1,400 $1,450 $1,500 $1,550 -5% -3% -1% 1% 3% 5% M A M F J 2013 D N O S A J J M 2012 90 95 100 105 110 115 120 $2.50 $2.75 $3.00 $3.25 $3.50 $3.75 $4.00 A M F J '14 D N O S A J J M A '13 n This index is a weighted average of all-in airfreight "buy rates" paid by forwarders to airlines for standard deferred airport-to-airport airfreight services on 21 major East-West routes for cargoes above 1,000 kilograms. Rates are expressed in $/kilogram and include 3 components: the base rate, the fuel surcharge and the security surcharge. They exclude door delivery costs. The Drewry East-West Air Freight Price Index for April 2014 sequentially advanced 1.5 points to 104.3, while rising 5.5 points above Aprll 2013. Drewry calculated the average air freight rate in April was $3.38 per kilogram, 5 cents per kilogram above March while 18 cents above April 2013. Drewry notes that while market conditions are improving, their expectation is that "overall pricing will fall, as more seasonal bellyhold capacity comes into the market." DREWRY'S EAST-WEST AIR FREIGHT PRICE INDEX Source: Drewry Sea & Air Shipper Insight, www.drewry.co.uk U.S. RETAIL INVENTORY-TO-SALES RATIO* 1.1 1.2 1.3 1.4 1.5 JAN 2013 JAN 2012 JAN 2011 JAN 2010 1.1 1.2 1.3 1.4 1.5 1.6 ▲ ▲ ▲ ▲ ▲ 2010 2011 2012 2013 2014 Year-over-year March 2014 U.S. retail sales rose 2.9 percent while inventories were up 6.1 percent. Sequentially, March U.S. retail sales spiked 14 percent while inventories inched ahead 0.7 percent. Retail inventories at the end of March were estimated to total $548.1 billion, with sales estimated at $390.4 billion for a total inventory to sales ratio of 1.40, a 0.19 point sequential plunge. *Not seasonally adjusted. Source: Retail Indicators Branch, U.S. Census Bureau, U.S. Department of Commerce, www.census.gov/mtis Source: Alphaliner Weekly Newsletter No. 22 • www.alphaliner.com Year-over-Year Savings FIRST QUARTER 2014 FIRST QUARTER 2013 4% $ 25 $595 $620 U U.S. dollars per ton BUNKER FUEL PRICES

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