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June 25 2018

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June 25 2018 | The Journal of Commerce 51 www.joc.com JOC By the Numbers Advertisers Alabama State Port Authority, www.asdd.com ........... 39 Cass Information Systems, www.cassinfo.com ........... 49 Cosco Shipping, www.cosco-usa.com ............................ 9 CT Logistics, www.ctlogistics.com ................................. 47 CTSI-Global, www.ctsi-global.com ................................. 55 nVision Global, www.nvisionglobal.com ...................... 43 Ocean Network Express, www.one-line.com ............... 35 Port Houston, www.porthouston.com .......................... 31 Port of Baltimore, www.marylandports.com ............... 56 Port of Long Beach, www.polb.com .............................. 21 Port of New Orleans, www.portno.com ........................ 19 Port of Virginia, www.portofvirginia.com ........................ 2 US Bank, www.freight.usbank.com ............................... 45 Yang Ming Line, www.yangming.com ............................ 33 JOC-ECRI Industrial Price Index Growth of US imports from Shanghai more than doubles Trans-Atlantic spot rates stay elevated Source: Economic Cycle Research Institute Source: IHS Markit Source: Drewry Shipping Consultants © 2018 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. INCREASES FOR THIRD WEEK: The JOC-ECRI Industrial Price Index for the week ending June 8, 2018, was 112.62 as the index rose 1.67 points. The rate is 3.2 points below the 2018 high of 115.82 set Jan. 26 and 3.28 points above the year-to- date low of 109.34 set March 30. US import volume from the Port of Shanghai with year-over-year change Growth in US imports from the Port of Shanghai more than doubled in the first quarter to 7.4 percent for 675,090 TEU, according to data from PIERS, a sister product of The Journal of Commerce within IHS Markit. That growth has made it more difficult for the port to work through backlogs generated by severe congestion caused by fog in March and April that negatively impacted sailing schedules and reduced reliability. World Container Index trans-Atlantic spot rates assessed by Drewry Growth in the US trans-Atlantic trade with Europe slowed to 2.6 percent in the first quarter, according to data from PIERS, a sister product of The Journal of Commerce within IHS Markit. Despite that slower rate of growth, spot rates on the headhaul from Europe remain elevated, floating around $1,900 to $2,000 per TEU in May. ■ IPI 90 95 100 105 110 115 120 6/8/2018 6/9/2017 520,000 540,000 560,000 580,000 600,000 620,000 640,000 660,000 680,000 700,000 Q1 2018 Q1 2017 Q1 2016 Q1 2015 Q1 2014 ■ TEU +1.8% +3.6% +7.4% +3.4% $1,700 $1,750 $1,800 $1,850 $1,900 $1,950 $2,000 $2,050 $2,100 5/24/18 1/5/17 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. SLIPS: The June 11, 2018, average spot market rate from Hong Kong to Los Angeles of $1,471 was down 2.1 percent or $31 from the prior week. The June 11, 2018, level is up $300 or 25.6 percent year over year. The June 11, 2018, average spot rate was $200 or 12 percent below the calendar 2018 high of $1,671 per FEU of Jan. 29, while $1,409 or 48.9 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% 6/11/18 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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