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July 9 2018

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July 9 2018 | The Journal of Commerce 51 www.joc.com JOC By the Numbers Advertisers Cosco Shipping, www.cosco-usa.com ............................ 9 Georgia Southern University Leadership Symposium, www.georgiasouthern.edu/leadershipsymposium ... 15 Hyundai Merchant Marine, www.hmm21.com ............ 55 IANA, www.intermodal.org /about-iana/why-iana ...... 53 Mediterranean Shipping Co., www.msc.com ................. 5 Northwest Seaport Allinace, www.nwseaportalliance.com/easy ................................ 31 Ocean Network Express, www.one-line.com ............... 56 OOCL, www.oocl.com ....................................................... 13 PhilaPort, www.philaport.com ....................................... 45 Port Everglades, www.porteverglades.net ..............23,45 Port Houston, www.porthouston.com ............................ 2 Port of Long Beach, www.polb.com .............................. 33 Port of Pascagoula, www.portofpascagoula.com ....... 43 Port of Prince Rupert, www.rupertport.com ................ 35 Port Tampa Bay, www.porttb.com ................................. 47 Ports America, www.portsamerica.com ....................... 37 Seaboard Marine, www.seaboardmarine.com ............ 21 Yang Ming Line, www.yangming.com ............................ 29 Yusen Logistics, www.yusen-logistics.com ................... 25 JOC-ECRI Industrial Price Index Total Terminals International's truck turn times close in on LA-LB average Source: Economic Cycle Research Institute Source: Harbor Trucking Association © 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. DECLINES: The JOC-ECRI Industrial Price Index for the week ending June 22, 2018, was 109.57 as the index fell 3.01 points from the prior week. The rate is 6.25 points below the 2018 high of 115.82 set January 26 and 0.23 points above the year-to- date low of 109.34 set March 30. Average truck turn time in minutes The improvement in truck turn times at the Port of Long Beach's Total Terminals International is an example of how stakeholder collaboration creates winners throughout the supply chain. The terminal's average truck turn time in April 2018 was nearly in line with that for the Los Angeles-Long Beach port complex as a whole aer ranking among the worst in the complex in April and May of 2017. The terminal attributed its sucess to better communication with shippers, railroads, and truckers to identify pain points and create solutions. ■ IPI 90 95 100 105 110 115 120 6/22/2018 6/23/2017 60 70 80 90 100 110 120 130 140 150 A M F J 2018 D N O S A J J M A M F J 2017 D N O S A J J M A M F J 2016 ■ TTI Truck Turn Time ■ LA-LB Average 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 25, 2018, average spot market rate from Hong Kong to Los Angeles of $1,158 was down 14 percent or $188 from the prior week. The June 25, 2018, level is up $87 or 8.1 percent year over year. The June 25, 2018, average spot rate was $513 or 30.7 percent below the calendar 2018 high of $1,671 per FEU of Jan. 29, while $1,722 or 59.8 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% 6/25/18 6/26/17 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16

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