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Mar.21, 2016

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www.joc.com THE JOURNAL OF COMMERCE 73 JOC By the Numbers ■ IPI ● Growth Rate 70 80 90 100 110 -40% -30% -20% -10% 0% 3/4/2016 3/6/2015 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. 35TH WEEK IN DOUBLE-DIGIT INDEX: The JOC-ECRI industrial price index for the week ending March 4, 2016, sequentially advanced 0.6567 point to 80.2964. This level is 1.8689 points above the 2016 low of 78.4275 of Jan. 22, 2016, which was the worst weekly index since the week ending May 29, 2009, when it was 78.2920. The JOC-ECRI IPI negative growth rate for the week ending March 4, 2016, sequentially improved by 1.8992 percentage points to negative 22.2927 percent. A positive growth rate was last seen 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 3/7/16 3/2/15 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. A YEAR-TO DATE LOW: The March 7, 2016, average spot market rate from Hong Kong to Los Angeles fell to the year-to-date low of $818 per FEU, down $50 or 5.8 percent from the week before. This level is $100 or 13.9 percent above the year-end 2015 and record low $718 per FEU level reached the last two weeks in December. $600 BELOW 2016 HIGH: The March 7, 2016, average spot rate was $1,136 or 58.1 percent below the same period last year and $600 or 42.3 percent below the 2016 high of $1,418 per FEU held for first three weeks in January. The March 7, 2016, level was $2,063 or 71.6 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 Canadian Pacific Railway, www.cpr.ca/intermodal ..............................................67 CenterPoint Properties, www.centerpoint.com ........... 41 Cosco, www.cosco-usa.com ..........................................5 CT Logistics, www.ctlogistics.com ..............................29 Direct Chassis Link, www.dcli.com .............................39 Global Container Terminals Canada, www.globalterminals.com .......................................... 71 Mediterranean Shipping Co., www.msc.com ...............2 MOL, www.countonmol.com ......................................79 nVision Global, www.nvisionglobal.com .................... 27 Old Dominion Freight Line, www.odfl.com ........... 36-37 Port Everglades, www.porteverglades.net ...................55 Port Metro Vancouver, www.portmetrovancouver.com ...................................69 Port of Montreal, www.port-montreal.com/why-montreal .......................63 Port of Prince Rupert, www.rupertport.com ................ 61 Port Tampa Bay, www.porttb.com ..............................53 SMC3, www.smc3.com ...............................................33 U.S. Bank Freight Payment, www.usbpayment.com/freight-payment ......................25 Willson International, www.willsonintl.com ...............65 Yang Ming Line, www.yangming.com ....................... 80 n January 2016 cargo traffic throughput at Hong Kong International Airport totaled 361,000 tons, 1.5 percent above January 2015. This January gain was primarily attributed to a 3 percent year-over-year increase in exports and transshipments. HKIA cargo volume for calendar 2015 inched forward 0.1 percent to a record 4.38 million tons, remaining essentially flat year-over-year. HONG KONG INT'L AIRPORT CARGO TRAFFIC ■ Cargo Tonnage Handled ● Year-over-year percent change 200 250 300 350 400 450 -20% -10% 0% 10% 20% 30% J'15 J'14 J'13 J'12 J'11 200 250 300 350 400 -30% -15% 0% 15% 30% J'16 J'15 J'14 J'13 J'12 2015 2014 2013 2012 2011 *In thousands of tons *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 ■ Average U.S. IMC highway yield ● Month to month percent change $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 ■ Drewry East-West Air Freight Price Index: May 2012 = 100 ● Average $ rate per kilogram 80 85 90 95 100 $2.50 $2.75 $3.00 $3.25 $3.50 J '16 D N O S A J J M A M F J '15 Nov. 2014 120.8 May 2012 100.0 Jan. 2016 83.0 High: Base: Low: n This index is a weighted average of all-in air freight "buy rates" paid by forwarders to airlines for standard deferred airport-to-airport air freight services on 21 major east-west routes for cargoes above 1,000 kilograms. Rates are expressed in U.S. dollar per kilogram and include three components: the base rate, the fuel surcharge and the security surcharge. They exclude door delivery costs. RECORD INDEX LOW: The January roll-up to the early Chinese New Year did not result in higher freight rates as in years past. Instead, in the third consecutive month in decline, the January 2016 Drewry East-West Air Freight Price Index was 83 points, tumbling 7.4 points below the December index and 16.4 points below the January 2015 index. The January 2016 average air freight rate was $2.69 per kilogram, plunging 24 cents below December and 53 cents year-over-year. Drewry anticipates weak rates until the retail inventory peak season ramps up. DREWRY'S EAST-WEST AIR FREIGHT PRICE INDEX Source: Drewry Sea & Air Shipper Insight, www.drewry.co.uk

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