Intermodal Spot Rate Pricing Trendline Analysis - Nov 12 2018
Weekly discussion and analysis on the trends in the intermodal and truckload spot market.
The InTek intermodal spot rate index decreased -0.6% over prior week.
For the week of November 12, 2018, domestic intermodal spot rate index:
- Down -0.6% from prior week
- Up 2.9% from 90 days ago.
- Up 25.1% from prior year.
Lane Stats: 8.7% increased, 8.8% decreased and 82.5% went unchanged.
Comparison of Truckload to Intermodal Spot Rate
The national truckload spot rate, as reported by DAT, held steady this week. The DAT reported the national truckload spot rate was $2.09 a mile. Truckload spot rates are up 3.5% from prior year. The percentage spread between the year-over-year truckload and intermodal cost per mile decreased to 13.0 points. While this move is in the right direction, there is still more room to go before we begin to see shippers in numerous lanes transition their truckload freight to intermodal for cost reasons.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.317 per gallon this week, which is a $0.021 decrease over prior week. This is the fourth consecutive week of a decrease.
The diesel price per gallon is up $0.402 or 13.8% higher from the same period last year.
Oil prices continue to push lower this week, with today's WTI and Brent trading in the range of $56.50 and $66.50, respectively.
Slowing world economies, trade & tariff concerns, stronger dollar and Iran sanctions softened are a few of the stories, but there appears to be more to the story on oil's slide. CNBC published the following article this week entitled "Why Oil Prices Went from Four-Year Highs to BEar Market in Just Six Weeks" where they explain the incredible reversal of fortunes in the oast six weeks. Just one short month ago analysts were projecting crude would soon hit $100 a barrel and now $40 seems to be a possibility.
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