www.joc.com THE JOURNAL OF COMMERCE 73
JOC By the Numbers
■ IPI ● Growth Rate
90
100
110
120
130
140
-40%
-30%
-20%
-10%
0%
10%
8/21/15 8/22/14
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.
Worst weekly index level since July 31, 2009: In the 10th consecutive week of decline and the seventh week in a double-digit
index, the JOC-ECRI industrial price index for the week ending Aug. 21, 2015, sequentially shed 1.4037 points, diving to 91.4498.
The JOC-ECRI
IPI negative growth rate for the week ending Aug. 21, 2015, sequentially tumbled 1.2346 percentage points to
negative 28.0035 percent, a level not seen since early April. A positive growth rate was last seen 49 weeks ago in the week
ending Sept. 12, 2014.
■ Rate per 40-foot box
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
-75%
-50%
-25%
0%
25%
50%
Year-over-year
Week-over-week
8/24/15 8/25/14
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.
The Aug. 24, 2015, average spot market rate from Hong Kong to Los Angeles sequentially remained at $1,618 per FEU, and
reflects $400 or 32.8 percent more than the 2015 year-to-date low of $1,218 per FEU held for the last three weeks in July.
The Aug. 24 average spot rate was $457 or 22 percent below the same period last year, and $636 or 28.2 percent below
the
year-to-date high of $2,253 per FEU reached three consecutive weeks in February. The Aug. 24 average spot rate
was $789 or 32.8 percent below the 2014 end-of-year spot rate/2014 high of $2,407 per FEU; and $1,263 or 43.8 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
Atlantic Ro-Ro Carriers, www.arrcm.com ...................28
BNSF Railway, www.bnsf.com/intermodal ............. 40-41
Canada States Africa Line, www.csaline.com .............29
CenterPoint Intermodal Center,
www.centerpoint.com .................................................49
C.H. Robinson, www.chrobinson.com .........................53
14th Annual Northeast Cargo Symposium,
www.conect.org .........................................................45
15th Annual Port of New York-New Jersey
Port Industry Day .......................................................33
Georgia Ports Authority,
www.gaports.com/gatewaytotheworld ........................23
IANA Intermodal Expo 2015,
www.intermodalexpo.com ..........................................43
Jacksonville Port Authority,
www.jaxport.com/autos .............................................32
MOL, www.countonmol.com ...................................... 15
NDTA-USTRANSCOM Fall Meeting,
www.ndtahq.com/joc15.htm ....................................... 51
Nordana Line, www.nordana.com ............................. 27
Pasha Hawaii, www.pashahawaii.com ....................... 31
Philadelphia Regional Port Authority,
www.philaport.com ......................................................7
Port Canaveral, www.portcanaveral.com ......................2
Port Freeport, www.portfreeport.com/ftz ....................65
Port Tampa Bay, www.porttb.com ............................. 80
Port of Antwerp,
www.portofantwerp.com/everythingispossible ............39
Port of Houston Authority,
www.portofhouston.com/ftz84 ....................................67
Port of Long Beach, www.polb.com/subscribe ............ 37
Port of Prince Rupert, www.rupertport.com .................13
Port of Stockton, California,
www.portofstockton.com ............................................ 71
7th Annual Harris County International Trade
& Transportation Conference,
www.harriscountyevents.net/program .........................55
The Northwest Seaport Alliance,
www.nwseaportalliance.com/logistics-services/ftzs ........5
TOTE, www.toteinc.com .............................................25
Yang Ming Line, www.yangming.com ......................... 9
n
June 2015 U.S. retail sales increased 2.6 percent year-over-year while inventories stockpiled 4.2 percent.
Sequentially, June U.S. retail sales declined 2.7 percent while inventories inched forward 0.6 percent. Retail
inventories at the end of June were estimated to total $564.3 billion, with sales estimated at $395.6 billion, for a
total inventory to sales ratio of 1.43, 0.21 points below the lofty 1.64 ratio in February.
U.S. RETAIL INVENTORY-TO-SALES RATIO*
1.1
1.2
1.3
1.4
1.5
1.6
JAN 2015 JAN 2014 JAN 2013 JAN 2012 JAN 2011 JAN 2010
1.1
1.2
1.3
1.4
1.5
1.6
Week-over-week
JAN 2014 JAN 2013 JAN 2012 JAN 2011 JAN 2010
1.1
1.2
1.3
1.4
1.5
1.6
1.7
Week-over-week
JAN 2015 JAN 2014 JAN 2013 JAN 2012 JAN 2011 JAN 2010
*Not seasonally adjusted. • Source: Retail Indicators Branch, U.S. Census Bureau, U.S. Department of Commerce, www.census.gov/mtis
