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June 11 2018

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June 11 2018 | The Journal of Commerce 67 www.joc.com JOC By the Numbers Advertisers CN, www.cn.ca ................................................................... 71 CP, www.cpr.ca ................................................................... 23 Cosco Shipping, www.cosco-usa.com ............................ 5 DP World, www.dpworld.ca ............................................. 25 Florida Ports Council, www.flaports.org ....................... 59 Georgia Southern University Leadership Symposium, www.georgiasouthern.edu/leadershipsymposium.com 34 Hyundai Merchant Marine, www.hmm21.com ............ 39 IANA Intermodal Expo 2018, www.intermodalexpo.com .............................................. 41 Jaxport, www.jaxport.com .............................................. 51 Litco, www.litco.com/export-grade-pallets .................. 40 Port Authority of NY & NJ, www.portnynj.com ............. 37 Port Canaveral, www.portcanaveral.com ..................... 61 Port Everglades, www.porteverglades.net ................... 55 Port Miami, www.portmiami.biz ..................................... 65 Port Montreal, www.tradingwiththeworld.com/en/midwest .............. 21 Port Tampa Bay, www.porttb.com ................................. 57 Port of Baltimore, www.marylandports.com ................. 2 TOTE, www.totemaritime.com ........................................ 63 TransGulf, www.transgulfship.com ................................ 53 Watson Land Company, www.watsonlandcompany.com ..................................... 45 Wen-Parker Logistics, www.wen-parker.com ............... 72 Yang Ming, www.yangming.com ....................................... 9 Yusen Logistics, www.yusen-logistics.com ................... 47 JOC-ECRI Industrial Price Index US-Africa trade growth resumes Source: Economic Cycle Research Institute Source: IHS Markit © 2018 IHS Markit © 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. SEESAWS: The JOC-ECRI Industrial Price Index for the week ending May 25, 2018, was 110.32 as the index slipped 0.93 points. The rate is 5.5 points below the 2018 high of 115.82 set January 26 and 0.98 points above the year-to-date low of 109.34 set March 30. Laden import and export TEU volume with year-over-year growth US trade with Africa bounced back strongly in 2017 aer three years of decline, and consultancy PwC expects that container volumes in most African markets will expand 8 percent this year. The growth has highlighted the shortcoming of port infrastructure in Africa, and PwC predicts that this shortcoming will lead to the development of two or three main hub ports where volumes will be consolidated. ■ IPI 90 95 100 105 110 115 120 5/25/2018 5/26/2017 290,000 300,000 310,000 320,000 330,000 340,000 350,000 360,000 370,000 380,000 390,000 2017 2016 2015 2014 2013 -4.4% ■ TEU -9.0% -1.3% +6.7% 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. SLIPS: The May 28, 2018, average spot market rate from Hong Kong to Los Angeles of $1,252 was down 11.2 percent or $158 from the prior week. The May 28, 2018, level is down $419 or 25.1 percent year over year. The May 28, 2018, average spot rate was $419 or 25.1 percent below the calendar 2018 high of $1,671 per FEU of Jan. 29, while $1,628 or 56.5 percent below the Drewry benchmark record high of $2,880 per FEU of Aug. 6, 2012. ■ Rate per 40-foot box $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 -50% 0% 50% 100% 150% 5/28/18 5/29/17 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16

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