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Slight Reprieve in Domestic Intermodal Rates - Aug 14, 2017

by Rick LaGore on 2017-08-15 16:59:57

Intermodal rates increasing

 intermodal peak season

Comments on the Weekly Intermodal Rate Charts:

Domestic intermodal spot rates are:

  • Down 1.0% from last week.
  • Up 10.3% from 90 days ago.
  • Up 16.3% from prior year.

While rates are slightly down, make no mistake that peak season is here with the the entire state of California now called out as a constrained market, with box allocation and surcharges firmly in place.  Peak is one full month ahead of last year.

Diesel Fuel Comments:

The EIA reported average diesel fuel price of $2.598 per gallon this week, which is a $0.017 increase from the prior week.  The price per gallon is up $0.288 or 11.1% higher from the same period last year.    

Oil prices are sliding back to the mid $40 a barrel price, with WTI and Brent crude trading at $47.60 and $50.85 a barrel this week, respectively.   The story continues to be around supply outpacing demand.  OPEC is holding onto production cuts with hopes to help drive WTI up to and above $50, while US drillers continue to pump more into the market than demand dictates when oil prices approach $50  The end result is WTI being price bound between $45 and $50 a barrel.  The weekly Baker Hughes rig count chart helps to illustrate the point.   All-in, oil is a battle ground topic that will continue for months to come, as oil producers need the cash to stay afloat and without price their only option is to pump more into a market that is not needing more.

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
  • Price Changes in 53' Domestic Intermodal Pricing & Diesel - 1/1/2013 Baseline
  • Rolling Quarter-over-Quarter Comparison - 53' Domestic Intermodal and Diesel Fuel Prices
  • 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
 Intermodal & Diesel Prices-15.png
Intermodal vs Diesel Against Baseline-13.png

Intermodal & Diesel Yr-over-Yr Comparison-15.png Intermodal & Diesel Qtr-over-Qtr Comparison-13.png

 Intermodal & Diesel Price Yr-over-Yr  Change-5.png

 Comments are always welcome and for more information.

For more on 53' domestic intermodal, truckload and managed transportation services, please sign-up for our weekly blogs and visit the InTek Freight and Logistics website.

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