April 16 2018
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The Journal of Commerce 67 www.joc.com
JOC By the Numbers
Advertisers
AAEI's 97th Annual Conference and Expo,
www.aaei.org ...................................................................... 15
Alabama State Port Authority,
www.asdd.com .................................................................. 34
Averitt, www.averittexpress.com .................................... 51
Cargo Spectre, www.cargospectre.com ........................ 59
Chipolbrok, www.chipolbrok.com ................................. 25
Connections 18, www.scm3connections.com .............. 9
Cosco Shipping, www.cosco-usa.com ............................ 5
Dixie Cullen, www.dixiecullen.com ................................ 33
IANA Intermodal Expo 2018,
www.intermodalexpo.com .............................................. 17
Landstar, www.landstar.com .......................................... 55
Litco, www.litco.com/export-grade-pallets .................. 39
Old Dominion Freight Line, www.odfl.com .................. 53
Ocean Network Express, www.one-line.com ............... 45
Port Everglades, www.porteverglades.net ................... 43
Port Houston, www.porthouston.com .......................... 21
Port Tampa Bay, www.porttb.com ................................. 23
Port of Baltimore, www.marylandports.com ................. 2
Port of Brownsville, www.portofbrownsville.com ...... 27
Port of Greater Baton Rouge, www.portgbr.com ........ 31
Port of Pascagoula, www.portofpascagoula.com ....... 29
Port of Virginia, www.portofvirginia.com ...................... 72
Yang Ming Line, www.yangming.com ............................ 41
Yusen Logistics, www.yusen-logistics.com ................... 58
JOC-ECRI Industrial Price Index
Source: Economic Cycle Research Institute © 2018 IHS Markit
The JOC-ECRI Industrial Price Index was developed by the Economic Cycle Research Institute (ECRI) and is a leading indicator of inflation based
on a broad assortment of raw materials used in industrial production.
HITS YEAR-TO-DATE LOW: The JOC-ECRI Industrial Price Index for the week ending March 30, 2018, was 109.34 as the index
slipped 0.96 points from the prior week, when it fell to 110.3. The rate is 6.48 points below the 2018 high of 115.82 set Jan.
26.
Rising demand that has brought the Europe-East Coast South America trade to a three-year high has helped to keep
freight rates on the trade elevated. For the first time since 2014, backhaul volume to South America in 2017 surpassed the
headhaul, and amounted to 850,000 TEU. A wide range of commodities is fueling that growth, in particular iron and steel,
mineral fuels and oils, meat and fish preparations, and glass and glassware.
■ IPI
90
95
100
105
110
115
120
3/30/2018 3/31/2017
0
200
400
600
800
1,000
1,200
Apr-18
Mar-18
Feb-18
Jan-18
Dec-17
Nov-17
Oct-17
Sep-17
Aug-17
Jul-17
Jun-17
May-17
Apr-17
Mar-17
Feb-17
Jan-17
Drewry Hong Kong-Los Angeles Spot Rate Benchmark
Source: Drewry Shipping Consultants
© 2018 IHS Markit
The rate shown here is in dollars and excludes terminal-handling charges in Hong Kong. Drewry tracks spot rates on 600-plus
global lanes including Hong Kong-Los Angeles by surveying NVOCCs and also tracks contract rates on 8,000-plus lanes via its BCO
Benchmarking Club.
REBOUNDS FROM YEAR-TO-DATE LOW: The April 4, 2018, average spot market rate from Hong Kong to Los Angeles of $1,091 was
was up 10.1 percent from the prior week when it hit a year-to-date low of $991. The April 4, 2018, level is down $467 or 30 percent
year over year.
The April 4, 2018, average spot rate was $1,091 or 34.7 percent below the calendar 2018 high of $1,671 per FEU of Jan. 29, while
$1,789 or 62.1 percent below the Drewry benchmark record high of $2,880 per FEU of Aug. 6, 2012.
■ Rate per 40-foot box
$0
$400
$800
$1,200
$1,600
$2,000
-50%
0%
50%
100%
150%
200%
Year-over-year
Week-over-week
4/4/18 3/20/17
PERCENT CHANGE: ● Year-over-year ● Week-to-week
High: $2,880 8/6/12
Low: $623 4/25/16
Europe-East Coast South America spot rates remain elevated
Source: Freightos
© 2018 IHS Markit
