Intermodal Spot Rate Pricing Trendline Analysis - Feb 11 2019
Weekly discussion and analysis on the trends in the intermodal spot rate market.
The InTek intermodal spot rate index increased 2.1% over prior week.
For the week of Feb 11, 2019, domestic intermodal spot rate index:
- Up 2.1% from prior week.
- Down 21% from 90 days ago.
- Up 6% from prior year.
Lane Stats: 15.0% increased, 7.8% decreased and 77.2% went unchanged.
Intermodal spot rates are up slightly over the past two weeks, although we expect to see rates fall even with prior year over the coming 30 days.
Comparison of Truckload to Intermodal Spot Rate
The national truckload spot rate, as reported by DAT, decreased $0.02 a mile or 1.0% from the prior week. DAT reported the national truckload spot rate was $1.91 a mile. Truckload spot rates are down 13.0% from prior year.
It's suboptimal for modal conversion to see the national truckload spot rate per mile continue its decrease and be down from prior year by 13.0% on a mileage basis, while intermodal has inched higher the past two weeks and is up 5.5% on a mileage basis when compared to prior year.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.966 per gallon this week, which is flat from the prior week.
The diesel price per gallon is down $0.097 or 3.2% lower from the same period last year.
At $53.90, WTI oil price per barrel is relatively flat from the prior week.
Brent is up $1.00 a barrel from prior week reporting in at $63.70.
Oil prices remain a big question mark for many logistics professionals in 2019, with political pressure, projections of slowing world economies, building oil inventory, trade & tariff concerns and stronger dollar.
The EIA's most current diesel price projection for diesel is a $2.94 per gallon price for 2019.
The February EIA price per barrel projections for 2019 inched up this month with the new thinking being the average WTI and Brent prices per barrel for 2019 to be $54.79 and $61.03, respectively.
The full spreadsheet of the historical weekly price moves of diesel full can be found at https://www.eia.gov/petroleum/gasdiesel/.
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