Intermdal Spot Rates Decrease - October 30 2018
The InTek intermodal spot rate index decreased -0.9% over prior week.
For the week of October 30, 2018, domestic intermodal spot rate index:
- Decreased -0.9% from prior week
- Increased 12.1% from 90 days ago.
- Increased 29.4% from prior year.
Lane Stats: 7.0% increased, 13.2% decreased and 79.8% went unchanged.
Hurricane Michael's effects continue to linger in the Southwest and contributed to Atlanta outbound lanes continuing their decrease from the prior week.
Comparison of Truckload to Intermodal Spot Rate
The national truckload spot rate, as reported by DAT, continues its slide, although the pace is slowing. This week DAT reported the national truckload spot rate was $2.10 a mile, a decrease of $0.01 from the prior week. Truckload spot rates are up 9.1% from prior year. The percentage spread between the year-over-year increase in truckload versus intemodal dropped 2-points from the prior week, but at 13.6 is still off the 5 to 10 point spread that would be more in-line with protecting marketshare for domestic intermodal against conversion back to truckload.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.335 per gallon this week, which is a $0.025 decrease over prior week.
The diesel price per gallon is up $0.536 or 19.0% higher from the same period last year.
Oil prices continue to push lower this with WTI and Brent trading in the range of $65.95 and $75.60, respectively.
Weakened world oil demand forecasts continue to put pressure on oil pricing. Slowing world economies, trade & tariff concerns and rising interest rates are the drivers of a weakened forecast.
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
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