Weekly discussion and analysis on the trends in the intermodal and truckload spot market.
Comments on the Weekly Intermodal Rate Charts:
Domestic intermodal spot rates are:
Down (0.03)% from last week.
Up 5.7% from 90 days ago.
Up 39.7% from prior year.
Domestic intermodal spot rate index remain at record levels, which does not speak positively for spot rates easing as we enter into quarter end, spring shipping season and full ELD implementation.
Chicago remains a challenged market with intermodal ramps congested with inbound and outbound volume, but is not the only the ramp dealing with elevated volumes, container shortages and dray capacity challenges.
49.1% of the 120 lanes tracked within the index experienced a decrease.
DAT reported the national average truckload spot market market steadied this week at $2.14 a mile. With capacity and the truckload spot prices elevated, modal conversion continues to be of great interest for shippers.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.992 per gallon this week, which is a $0.015 decrease from the prior week.
The price per gallon is up $0.413 or 16.0% higher from the same period last year.
Oil remains above $60 a barrel with WTI and Brent closing this week at $62.08 and $65.57, respectively.
The most recent projection by the EIA for diesel and oil prices were published on February 6, 2018. In the report, diesel is projected to average $2.91 in calendar year 2018, which is an increase over the $2.83 projection issued in November 2017.