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Mar.7, 2016

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www.joc.com THE JOURNAL OF COMMERCE 107 JOC By the Numbers ■ IPI ● Growth Rate 70 80 90 100 110 -40% -30% -20% -10% 0% 2/19/2016 2/20/2015 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. 33RD WEEK IN DOUBLE-DIGIT INDEX: The JOC-ECRI industrial price index for the week ending Feb. 19, 2016, sequentially declined 0.1398 point to 79.6422. This level is 1.2147 points above the 2016 low of 78.4275 of Jan. 22, 2016, that was the worst weekly index since the week ending May 29, 2009, at 78.2920. The JOC-ECRI IPI negative growth rate for the week ending Feb. 19, 2016, sequentially improved by 0.3791 percentage point to negative 24.8444 percent. A positive growth rate was last seen 75 weeks ago in the week ending Sept. 12, 2014. ■ Rate per 40-foot box $500 $1,000 $1,500 $2,000 $2,500 -100% -50% 0% 50% 100% Year-over-year Week-over-week 2/15/16 2/9/15 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. REMAINS AT YEAR-TO DATE LOW: The Feb. 15, 2016, average spot market rate from Hong Kong to Los Angeles remained at the year-to-date low of $1,218 per FEU. This level is $500 or 69.6 percent above the year-end 2015 and record low $718 per FEU level reached the last two weeks in December. DOWN 46 PERCENT YEAR-OVER-YEAR: The Feb. 15, 2016, average spot rate was $1,036 or 46 percent below the same period last year, which was the 2015 high of $2,253 per FEU for three consecutive weeks in February 2015. The Feb. 15, 2016, level was $1,663 or 57.7 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 Associates Warehousing Inc., www.associateswarehousing.com ..............................................75 Averitt, www.averittexpress.com ............................................... 95 BNSF Railway, www.bnsf.com/intermodal .................................37 Canadian National Railway, www.cn.ca .............................. 44-45 Canadian Pacific, www.cpr.ca/intermodal, ........Inside Front Cover CaroTrans, www.carotrans.com .................................................. 5 C.H. Robinson, www.chrobinson.com ...................................... 103 ClearMetal, www.clearmetal.com ..............................................53 CONECT Northeast Trade & Transportation Conference, www.conect.org ............................ 59 ContainerPort Group, www.containerport.com ......................... 25 Cosco, www.cosco-usa.com ........................................................ 7 CSX, www.intermodal.com/servicehighlights ............................ 93 Direct ChassisLink Pool, www.dcli.com .................................... 87 DP World, www.dpworld.ca/tpm .............................................. 39 Emirates SkyCargo, www.skycargo.com/coolchain .................... 13 Evergreen Line, www.evergreen-line.com ....................Back Cover FedEx Trade Networks, www.ftn.fedex.com .............................. 29 Florida Ports Council, www.flaports.org ....................................91 Georgia Ports Authority, www.gaports.com/gatewaytotheworld ...................................... 55 Hamburg Sud, www.hamburgsud-line.com ...............................81 Hyundai Merchant Marine, www.hmm21.com .......................... 19 IANA Intermodal Expo 2016, www.intermodalexpo.com ............35 Jacksonville Port Authority, www.jaxport.com/reefer ................ 85 "K" Line, www.kline.com ..........................................................41 Maersk Line, www.maerskdelivers.com ........................ Cover gate 1, 2, 3, 56-57 Mallory Alexander International Logistics, www.mallorygroup.com ............................................................ 31 Matson, www.matson.com .......................................................47 Mediterranean Shipping Co., www.msc.com ............................. 3 MODEX 2016, www.modexshow.com ....................................... 89 MOL, www.countonmol.com .................................................... 65 Nasstrac 2016 Shippers Conference, Transportation Expo, www.nasstrac.org ...................................................................109 Norfolk Southern, www.nscorp.com/intermodal ....................... 21 North Carolina Ports, www.ncports.com .................................. 79 OOCL, www.oocl.com ................................................................11 Port Everglades, www.porteverglades.net ................................. 83 Port Metro Vancouver, www.portmetrovancouver.com ......................... Inside Back Cover Port of Baltimore, www.marylandports.com ............................. 15 Port of Boston, www.theportofboston.com ............................... 63 Port of Corpus Christi, www.portofcc.com ................................ 98 Port of Houston Authority, www.portofhouston.com/map .........33 Port of Long Beach, www.polb.com ......................................... 43 Port of Mobile, www.asdd.com ................................................ 99 Port of New York and New Jersey, www.portnynj.com .............. 61 Port of Prince Rupert, www.rupertport.com .............................. 30 Port Tampa Bay, www.porttb.com ............................................113 RTM Lines, www.rtmlines.com ..................................................97 Seaboard Marine, www.seaboardmarine.com .......................... 71 South Carolina Ports, www.scspa.com ......................................27 The Northwest Seaport Alliance, www.nwseaportalliance.com .....................................................23 TOTE, www.toteinc.com ............................................................73 TRAC Intermodal, www.tracintermodal.com ............................105 Yang Ming Line, www.yangming.com ...................................... 49 Yusen Logistics, www.yusen-logistics.com ................................ 69 n December U.S. retail sales sequentially spiked 16.8 percent while inventories plunged 5.9 percent. Year-over-year, December 2015 U.S. retail sales gained 2.5 percent while inventories stockpiled 5.4 percent. Retail inventories at the end of December were estimated to total $582.9 billion, with sales estimated at $460.3 billion, resulting in an inventory-to-sales ratio of 1.27 and a 0.30-point sequential ratio reduction. U.S. RETAIL INVENTORY-TO-SALES RATIO* 1.1 1.2 1.3 1.4 1.5 1.6 1.7 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 1.7 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Week-over-week JAN 2016 JAN 2015 JAN 2014 JAN 2013 JAN 2012 JAN 2011 *Not seasonally adjusted. Source: Retail Indicators Branch, U.S. Census Bureau, U.S. Department of Commerce, www.census.gov/mtis

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