66 THE JOURNAL OF COMMERCE www.joc.com AUGUST 7.2017
JOC By the Numbers
ADVERTISERS
44th Annual S.C. International Trade Conference,
www.scitc.org ............................................................29
BNSF Railway, www.bnsf.com/pnw-tx ........................ 37
Capitol Express & Warehousing,
www.capitolexpress.com ............................................53
Cosco Shipping, www.cosco-usa.com ..........................13
FDAImports.com, www.fedimports.com ..................... 61
Hyundai Merchant Marine, www.hmm21.com ........... 15
IANA Intermodal Expo 2017,
www.intermodalexpo.com ..........................................23
Mediterranean Shipping Co., www.msc.com ...............5
MOL, www.countonmol.com ......................................72
Moran, www.morantug.com ......................................63
MTC Logistics, www.mtccold.com ..............................55
Northwest Seaport Alliance,
www.nwseaportalliance.com/easy ..............................39
Petrochemical Supply Chain & Logistics,
www.petchemupdate.com/petrochemical-supplychain ............ 67
Port of Baltimore, www.marylandports.com ............. 64
Port of Bostom, www.theportofboston.com ................25
Port of Prince Rupert, www.rupertport.com ................ 41
Port of Vancouver, www.portvancouver.com ................2
Port of Virginia,
www.portofvirginia.com/momentum .......................... 71
Ports America Chesapeake,
www.pachesapeake.com ........................................... 48
Tradepoint Atlantic, www.tradepointatlantic.com ....... 57
Wallenius Wilhelmsen Logistics,
www.bit.ly/wwlcases ..................................................59
Yang Ming Line, www.yangming.com ......................... 9
■ IPI
70
80
90
100
110
7/21/2017 7/22/2016
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.
INCHES UP AFTER DECLINE: The JOC-ECRI Industrial Price Index for the week ending July 21, 2017, was 102.92 as
the index inched up 0.3 points from the prior week. This reading is 5.9412 points below the calendar 2017 high
of 108.861 and 0.64 points above the year-to-date low of 102.28 set June 9.
n
Average time in Chittagong port for container ships
Congestion in the Chittagong port is a regular occurrence, but it has grown dramatically following an accident that
took out two of the port's ship-to-shore gantry cranes. At the same time, draft restrictions have created operational
challenges, and these factors have driven up container ships' average time in port 43.1 percent to 84.3 hours
between January and June, according to IHS Markit data.
■ 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
7/24/17 7/25/16
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.
INDEX CLOSES IN ON YEAR-TO-DATE LOW: The July 24, 2017, average spot market rate from Hong Kong to Los
Angeles of $1,171 was down 7.9 percent or $100 from the prior week, edging closer to the year-to-date low of
$1,071 set June 26. The July 24 level is up $78 or 7.1 percent year over year.
The July 24, 2017, average spot rate was $1,190 or 50.4 percent below the calendar 2017 high of $2,361 per
FEU
of Jan. 2, while $1,629 or 59.3 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
■ Hours in Port
0
10
20
30
40
50
60
70
80
90
100
June May April March Feb. Jan.
CONTAINER SHIP TIME IN CHITTAGONG PORT JUMPS
Source: IHS Markit
