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Intermodal & Truckload Spot Rates Back on the Rise

by Rick LaGore on 2018-09-12 15:59:18

The intermodal spot rate index increased 2.1% over prior week.  Of the 115 lanes tracked in the weighted average index, 50.9% increased, 24.6% decreased and 24.5% went unchanged.  

Intermodal TruckFor the week of September 10, 2018, domestic intermodal spot rates were:

  • Up 2.1% from prior week
  • Up 13.3% from 90 days ago.
  • Up 37.9% from prior year.

Year-over-year North American intermodal volumes are up 5.4% in total, with COFC up 4.6% and TOFC up 16.0%. 

The national dry van spot rate, reported by DAT, a national average of $2.20 a mile.  This is a 2.8% increase from the prior week and 20% higher over prior year. 

Shippers should expect to see upward pressure on capacity and spot market pricing because of hurricane Florence.

Diesel Fuel Comments: 

The EIA reported average diesel fuel price of $3.258 per gallon this week, which is a $0.006 increase.

The diesel price per gallon is up $0.456 or 16.3% higher from the same period last year.    

Oil prices are up roughly $2.50 from last week, with WTI and Brent trading today in the range of $70.30 and $79.65, respectively.  The stories that have been driving oil prices include: the strong dollar, Iranian sanctions, Venezuelan currency crisis, China trade conflict, along with other supply& demand dynamics.  The new topic added this week is hurricane Florence.  

The EIA for diesel and oil prices current projection is diesel will average $3.15 a gallon for calendar year 2018.

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
  • Variance to January 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
  • 53' Domestic Intermodal and Diesel Prices Quarter-Over-Quarter Comparison

 Intermodal Spot Rate and Diesel Fuel-9

 Baseline Analysis - Intermodal Spot Rate and Diesel Fuel-9

Intermodal Spot Rate and Diesel Fuel Yr-over-Yr Comparison-9

 Intermodal Spot Rate and Diesel Fuel Yr-over-Yr Percentage-9

Intermodal Spot Rate and Diesel Fuel Qtr-over-Qtr Comparison-9 

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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