Issue link: https://jocdigital.uberflip.com/i/802629
www.joc.com THE JOURNAL OF COMMERCE 51 JOC By the Numbers ADVERTISERS Agriculture Transportation Coalition, www.agtrans.org/events .............................................. 9 CenterPoint Properties, www.centerpoint.com ........... 21 Cosco Shipping, www.cosco-usa.com ...........................2 9th Annual Georgia Logistics Summit, www.summit.georgialogistics.com ..............................17 Macropoint, www.whymacroport.com ........................13 Metro Ports, www.metroports.com .............................34 MOL, www.countonmol.com ......................................56 Northwest Seaport Alliance, www.nwseaportalliance.com/easy .............................. 37 Port of Long Beach, www.polb.com ...........................39 Port of Prince Rupert, www.rupertport.com ................ 41 Port of San Diego, www.portofsandiego.org/cargo .....35 Ports America, www.portsamerica.com ..................... 40 TOTE Maritime, www.totemaritime.com .....................45 Watson Land Co., www.watsonlandcompany.com .....23 WERC 40th Annual Conference for Logistics Professionals, www.werc.org/2017 .................................................... 15 World Trade Week NYC 17, www.worldtradeweeknyc.org ...................................... 31 Yang Ming Line, www.yangming.com ..........................5 ■ Rate per 40-foot box $0 $500 $1,000 $1,500 $2,000 $2,500 -100% -50% 0% 50% 100% 150% Year-over-year Week-over-week 3/17/17 3/9/16 PERCENT CHANGE: ● Year-over-year ● Week-to-week 8/6/12 $2,880 4/25/16 $623 High: Low: 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. YEAR-TO-DATE LOW FALLS FURTHER: The March 20, 2017, average spot market rate from Hong Kong to Los Angeles fell $200 or 12.8 percent to a new year-to-date low of $1,358 per FEU. This level is up $640 or 89.2 percent year-over-year. The March 20, 2017, average spot rate was $685 or 33.5 percent below the calendar 2016 high of $2,043 per FEU of Oct. 31, while $1,522 or 52.9 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 ■ IPI 70 80 90 100 110 3/17/2017 2/5/2016 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. 16th WEEK IN TRIPLE-DIGIT INDEX: The JOC-ECRI Industrial Price Index for the week ending March 17, 2017, retreated from the year-to-date high reached Feb. 17, and fell compared to the prior week, reaching 106. This level is 2.1677 points below the calendar 2016 high of 103.8323 for the week ending Dec. 16, while 27.5725 points above the calendar 2016 low of 28.2825 for the week ending Jan. 22, 2016. n Growth of US containerized imports of auto parts stayed merely flat in 2016 after expanding 1.8 percent in 2015. Demand for containerized auto parts from major Asian suppliers Korea and China fell last year, possibly linked to weaker demand for motor vehicles and greater US domestic production of auto parts. Japan, Germany, and Taiwan contributed the most to growth in US auto part imports, while China, Others, and Japan combined to control 60 percent of the market. The rest of the market was controlled by Korea, with 16.46 percent, Germany with 15.05 percent, and Taiwan with 8.33 percent. US IMPORTS OF AUTO PARTS Sources: JOC Insights, February 2017 500 600 700 800 900 1,000 2016 2015 2014 2013 2012 0% 2% 4% 6% 8% 10% ■ TEUs ● Annual percent change n Ocean carrier reliability to the US from Asia in 2016 showed clear gains in the slack season before declining steadily as the peak season began to accelerate. Reliability to the US East Coast was slightly more volatile and never reached the high seen on the West Coast. East Coast reliability also started and ended lower than reliability to the West Coast. OCEAN CARRIER RELIABILITY JAN 2016 JAN 2015 JAN 2014 JAN 2013 JAN 2012 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Week-over-week 2012 2013 2014 2015 2016 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan 3% 6% 9% 12% 15% Unconstrained submarkets Inll '10 '09 '08 '07 '06 '05 '04 '03 '02 '01 '00 Source: SeaIntel