Intermodal Spot Rate Pricing Trendline Analysis - April 30, 2019 Blog Feature
Rick LaGore

By: Rick LaGore on April 30th, 2019

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Intermodal Spot Rate Pricing Trendline Analysis - April 30, 2019

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

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

The InTek intermodal spot rate index decreased 2.2% over prior week.  

intermodal transportation

For the week of April 30, 2019, domestic intermodal spot rate index:

  • Down 2.2% from prior week.
  • Down 8.7% from 90 days ago.
  • Down 15.4% from prior year.

Lane Stats: 38.3% increased, 40.9% decreased and 20.8% went unchanged.   

The intermodal spot market continues to support the fact volumes remain weak, although we are starting to see some stabilization in volumes indicating the bottom in spot rates may be near. 

Intermodal volume is down 1.0% from prior YTD. 

Breaking the volume down by equipment, TOFC is down 7.0% and COFC is down 0.5%.

By region, volume is down 1.4% in the US, up 1.9% in Canada and down 6.5% in Mexico.

Comparison of Truckload to Intermodal Spot Rate 

truckloadThe national truckload spot rate increased 0.8% last week, as reported by the DAT Trendline Report.  

Year-over-year truckload national average truckload spot rates per mile are down 13.6%, while domestic intermodal is down 14.2% per mile.  

Diesel Fuel Comments: 

The EIA reported average diesel fuel price of $3.169 per gallon this week, which is up $0.022 or 0.7% from the prior week.

The diesel price per gallon is up $0.012 or 0.4% higher from the same period last year.

WTI and Brent crude price per barrel down roughly $2.50 from the prior week, with WTI and Brent closing  at $63.83 and $72.80, respectively.  

OPEC is doing their best to hold production cut commitments in hopes to hold oil at elevated levels, while US production continues outpace demand and is putting downward pressure on the commodity.   The current prediction has many analysts believing oil prices will continue to rise over 2019. 

The EIA's April 2019 diesel price average price projection for diesel is $3.018 per gallon for calendar year.  This is a $0.10 a gallon increase over last month's projection.

In the same report, EIA's average price per barrel oil projections for 2019 were increased to the following:

  • WTI $58.80
  • Brent $65.15

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

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Intermodal Spot Rate Trend Graphs

  • 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

  

Interomodal Spot Rate and Diesel Fuel 4.30

Interomodal Spot Rate and Diesel Fuel Baseline 4.30

Interomodal Spot Rate and Diesel Fuel Yr-over-Yr Comparison 4.30

Interomodal Spot Rate and Diesel Fuel Yr-over-Yr Percentage Change 4.30

Interomodal Spot Rate and Diesel Fuel Qtr-over-Qtr Comparison 4.30

For more on 53' domestic intermodaltruckload , cross-border and managed transportation services, please 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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