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Intermodal Spot Rate Pricing Trendline Analysis - July 2, 2019 Blog Feature
Rick LaGore

By: Rick LaGore on July 2nd, 2019

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Intermodal Spot Rate Pricing Trendline Analysis - July 2, 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 increased 1.6% over the prior week.  

Intermodal container loadingFor the week of July 2, 2019, domestic intermodal spot rate index:

  • Up 1.6% from prior week.
  • Up 1.3% from 90 days ago.
  • Down 18.2% from prior year.

Lane Stats: 40.9% increased, 32.1% decreased and 27.0% went unchanged.   

California and PNW region outbound experienced across-the-board increases ranging from 1.5% to 6.5%.

Intermodal Volume

Intermodal volume remains weak, as compared to prior YTD with volume down 2.3% from prior YTD.

Breaking the volume down by equipment, TOFC is down 10.9% and COFC is down 1.6%.

By region, volume is down 3.2% in the US, up 1.4% in Canada and down 3.3% in Mexico.

Comparison of Truckload to Intermodal Spot Rate 

intermodal truckThe national truckload spot rate increased 2.4% last week, as reported by the DAT Trendline Report

The spread in the year-over-year national truckload average rate per mile and intermodal spot rates flipped back in favor of truckload this week, with truckload spot rates down 18.3% and domestic 53' intermodal down 16.6%. 

While we are projecting one more leg down on the spot rates, we expect to see the year-over-year spot rate percentage decrease climb through the summer, as the comparables will continue to get more difficult.  

Diesel Fuel Comments: 

diesel fule priceThe EIA reported average diesel fuel price of $3.042 per gallon this week, which is down $0.001 from the prior week.

This marks the 6th consecutive week a decrease has been reported.

The diesel price per gallon is down $0.194 or 6.0% from the same period last year.

WTI and Brent crude oil pricing decreased this week, with WTI and Brent trading in the range of $57.20 and $63.35, respectively.  

While the global political environment remains tense and the world economies are in question, it is surprisingly neither is having a dramatic impact on oil prices. 

The EIA's June 2019 diesel price average price projection for diesel is $3.11 per gallon for calendar year.  

In the same report, the EIA's average price per barrel oil projections for 2019 are:

  • WTI $59.29
  • Brent $66.69

Both diesel and oil prices were decreased in the latest EIA forecast providing more evidence analysts believe a weakening economic front is on the horizon.

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  

Intermodal Spot Rate and Diesel Fuel 7.2

Intermodal Spot Rate and Diesel Fuel Baseline 7.2

Intermodal Spot Rate and Diesel Fuel Yr-over-Yr Comparison 7.2

Intermodal Spot Rate and Diesel Fuel Yr-over-Yr Percentage Change 7.2

Intermodal Spot Rate and Diesel Fuel Qtr-over-Qtr Comparison 7.2

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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