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Hurricanes Continue to Push IM & Truck Spot Rates Upward

by Rick LaGore on 2017-09-12 14:22:14

intermodal and truckload spot ratesComments on the Weekly Intermodal Rate Charts:

Domestic intermodal spot rates are:

  • Up 1.2% from last week.
  • Up 14.4% from 90 days ago.
  • Up 16.5% from prior year.
Hurricanes Harvey and Irma are impacting freight patterns in a way that is causing logistics networks to be imbalanced and inefficient.  The two hurricanes have also caused diesel rates to spike, as they have disrupted the supply chains of refined products.  The combination of these two factors on a freight market that was already in its first true peak season has set the expectation that capacity and rates will be an issue for the next several weeks.

Diesel Fuel Comments:

The EIA reported average diesel fuel price of $2.802 per gallon this week, which is a $0.044 increase from the prior week.  The price per gallon is up $0.403 or 16.8% higher from the same period last year.    

WTI is relatively stable this week with WTI and Brent are trading at $48.25 and $54.20, respectively.   Harvey and Irma spiking crude and the refined products on the short term basis, while OPEC announce production numbers this week that shows the group was successful in cutting back production in August for the first time since March.  The reality of the situation is supply is far outpacing demand and wherever the cuts come there continues to be another producing nation that fills the gap.  In other words, oil continues to be a battle ground topic.   

The full spreadsheet of the historical weekly price moves of diesel full can be found at https://www.eia.gov/petroleum/gasdiesel/

Graphs listed below include:

  • 53' Domestic Intermodal Price Index & Diesel Fuel Prices
  • Price Changes in 53' Domestic Intermodal Pricing & Diesel - 1/1/2013 Baseline
  • Rolling 52 Year-over-Year Comparison - 53' Domestic Intermodal and Diesel Fuel Prices
  • Rolling 52 Year-over-Year % Change - 53' Domestic Intermodal and Diesel Fuel Prices
  • Rolling Quarter-over-Quarter Comparison - 53' Domestic Intermodal and Diesel Fuel Prices

 Intermodal & Diesel Prices-19.png

 Intermodal vs Diesel Against Baseline-17.png

 Intermodal & Diesel Yr-over-Yr Comparison-19.png

Intermodal & Diesel Price Yr-over-Yr  Change-9.png

Intermodal & Diesel Qtr-over-Qtr Comparison-17.png

For more on 53' domestic intermodaltruckload and managed transportation services, please sign-up for our weekly blogs and visit the InTek Freight and Logistics website.

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