www.joc.com THE JOURNAL OF COMMERCE 81
JOC By the Numbers
■ IPI ● Growth Rate
90
100
110
120
130
140
-60%
-45%
-30%
-15%
0%
15%
5/15/15 5/16/14
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 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.
Eighth week out of double-digit index: The JOC-ECRI industrial price index for the week ending May 15, 2015, was 104.0397,
sequentially dipping 0.2582 point from the best index level since early January. The JOC-ECRI IPI negative growth rate
sequentially improved by 0.2694 percentage point to a negative 19.6448 percent. A positive growth rate was last reached 35
weeks ago in the week ending Sept. 12, 2014.
■ Rate per 40-foot box
$1,250
$1,500
$1,750
$2,000
$2,250
$2,500
-30%
-15%
0%
15%
30%
45%
Year-over-year
Week-over-week
5/18/15 4/21/14
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.
Tumbles to year-to-date low: The May 18, 2015, average spot market rate from Hong Kong to Los Angeles was $1,489 per FEU,
sequentially plunging $100 or 6.3 percent. The May 18, 2015, average spot rate was $511 or 25.5 percent below the same period
last year, and $764 or 33.9 percent below the year-to-date high of $2,253 per FEU reached three consecutive weeks in February.
The May 18, 2015, average spot rate was $918 or 38.1 percent below the 2014 end-of-year spot rate/2014 high of $2,407 per FEU;
and $1,391 or 48.3 percent below the Drewry benchmark record high of $2,880 per FEU of Aug. 6, 2012.
Source: Drewry's Container Freight Rate Insight, www.drewry.co.uk
ADVERTISERS
Agriculture Transportation Coalition,
www.agtrans.org ........................................................75
American Independent Line,
www.aishipping.com ..................................................67
CenterPoint Properties, www.centerpoint.com ...........29
Chipolbrok, www.chipolbrok.us ................................. 77
C.H. Robinson, www.chrobinson.com ......................... 19
Continental Underwriters, www.cultd.com ................87
Cosco, www.cosco-usa.com ......................................... 9
CP, www.cpr.ca/en/our-markets ................................... 37
Direct ChassisLink Inc., www.dcli.com ....................... 57
Evergreen Line, www.evergreen-line.com .................. 88
Florida Ports Council, www.flaports.org .....................25
Hyundai Merchant Marine, www.hmm21.com ...........43
"K" Line, www.kline.com ...........................................47
Livingston, www.livingstonintl.com ............................49
Mediterranean Shipping Co., www.msc.com ............. 15
MOL, www.countonmol.com ......................................23
Nordana, www.nordana.com ..................................... 27
North Carolina Ports, www.ncports.com ....................53
Port Canaveral, www.portcanaveral.com ....................59
Port Miami, www.portmiami.biz ................................ 51
Port Tampa Bay, www.porttb.com ..............................39
Port of Boston, www.theportofboston.com ................. 69
Port of Houston Authority,
www.portofhouston.com/map ....................................63
Port of Los Angeles,
www.portoflosangeles.org/latitude ............................. 41
Port of Mobile, www.asdd.com .................................. 31
Port of Prince Rupert, www.rupertport.com ................ 21
Port of Seattle, www.portseattle.org .............................5
Port of Stockton, California,
www.portofstockton.com ............................................ 71
Port of Tacoma, www.portoftacoma.com ................... 61
Schneider, www.schneider.com ..................................35
Seaboard Marine, www.seaboardmarine.com .............2
Seaonus, www.seaonus.com ......................................45
Sea Star Line, www.seastarline.com ........................... 73
South Carolina Ports, www.scspa.com .......................33
Yang Ming Line, www.yangming.com ........................55
n
March 2015 cargo traffic throughput at Hong Kong International Airport totaled 364,000 tons, 8.2 percent below March
2014, attributed mostly to a 16 percent year-over-year plunge in exports. As Chinese New Years was in February this year
and in January 2014, perhaps the best metric is the combined first-quarter 2015 HKIA cargo volume, just over a million
tons and 2.9 percent above first-quarter 2014 results. HKIA cargo traffic in calendar 2014 was a record 4.4 million tons, up
6 percent year-over-year.
HONG KONG INT'L AIRPORT CARGO TRAFFIC
■ Cargo Tonnage Handled ● Year-over-year percent change
■ Cargo Tonnage Handled ● Year-over-year percent change
200
250
300
350
400
450
-20%
-10%
0%
10%
20%
30%
D N O S A J J M A M F J
2014
D N O S A J J M A M F J
2013
D N O S A J J M A M F J
2012
D N O S A J J M A M F J
2011
200
250
300
350
400
a
-30%
-15%
0%
15%
30%
J'15 J'14 J'13 J'12 J'11
■
Cargo Tonnage Handled
● Year-over-year percent change
200
250
300
350
400
450
-20%
-10%
0%
10%
20%
30%
M F J
2015
D N O S A J J M A M F J
2014
D N O S A J J M A M F J
2013
D N O S A J J M A M F J
2012
D N O S A J J M A M F J
2011
*Cargo handled includes import, export and transshipment (counted twice) cargoes. Air mail is excluded.
Source: Hong Kong Airport, www.hongkongairport.com/eng/media/facts-figures/air-traffic-statistics.html
In thousands of tons*
