Intermodal Spot Rate Pricing Trendline Analysis - Oct 19 2018 Blog Feature
Rick LaGore

By: Rick LaGore on October 19th, 2018

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Intermodal Spot Rate Pricing Trendline Analysis - Oct 19 2018

Intermodal | diesel fuel price | truckload | intermodal spot rates | intermodal spot rate index trendlines

Weekly discussion and analysis on the trends in the intermodal and truckload spot market.

The InTek intermodal spot rate index increased 0.6% over prior week. 

rail_intermodal_UP

For the week of October 15, 2018, domestic intermodal spot rates:

  • Increased 0.6% from prior week
  • Increased 11.7% from 90 days ago.
  • Increased 32.4% from prior year.

Lane Stats: 93.0% increased, 4.4% decreased and 2.6% went unchanged.   

No particular lane or market was immune to minor increases making this week's rates appear to be financially driven versus market driven.

DAT reported the national truckload spot rate of $2.13 a mile.  This is down $0.04 or 1.8% lower from the prior week.   Truckload spot rates are up 9.1% from prior year 

Intermodal continues to run ahead of truckload spot rates in the year-over-year percentage comparison.  As stated last week, it would be optimal to see a convergence in the year-over-year comparables, so to limit the risk of freight being converted from intermodal to truckload in non-peak lanes.  In prior years, truckload to intermodal conversion became more prevalent when the truckload spot rate per mile was roughly $2.10.  Time will tell if this holds true during this business cycle.  

Diesel Fuel Comments: 

The EIA reported average diesel fuel price of $3.394 per gallon this week, which is a $0.009 increase over prior week.

The diesel price per gallon is up $0.607 or 21.8% higher from the same period last year.    

Oil prices took a turn lower this week with WTI and Brent trading in the range of $69.30 and $80.15, respectively.  

The EIA trimmed its forecast last week for world oil demand as it is less optimistic on demand because of slower world economies, trade & tariff concerns and rising interest rates. 

The EIA's most current diesel price projection for diesel is $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-13

 Baseline Analysis - Intermodal Spot Rate and Diesel Fuel-13

Intermodal Spot Rate and Diesel Fuel Yr-over-Yr Comparison-13

 Intermodal Spot Rate and Diesel Fuel Yr-over-Yr Percentage-13

 Intermodal Spot Rate and Diesel Fuel Qtr-over-Qtr Comparison-12

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

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About Rick LaGore

Rick is the co-founder and CEO of InTek Freight & Logistics, a company focused on being the place where companies come when faced with a logistics problem.

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