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Intermodal Spot Rates Continue to Rise - California Constrained Market

by Rick LaGore on 2017-08-29 16:48:04

Intermodal rates increasing

Comments on the Weekly Intermodal Rate Charts:

Domestic intermodal spot rates are:

  • Up 1.4% from last week.
  • Up 12.6% from 90 days ago.
  • Up 18.6% from prior year.

Peak season continues to have a firm grip on the California market with box allocations, peak surcharges and rising spot rates.

The intermodal spot rate index is at its highest level since mid-April 2014.  Comparing this week against last week find outbound California rates held flat, while outbound Chicago increased across the board.    

Diesel Fuel Comments:

The EIA reported average diesel fuel price of $2.605 per gallon this week, which is a $0.009 increase from the prior week.  The price per gallon is up $0.196 or 8.1% higher from the same period last year.    

WTI is headed back down from last week, as a result of the Hurricane Harvey, while Brent is essentially trading flat to last week.  WTI and Brent are trading at roughly $45.90 and $51.70 a barrel this week, respectively.   The story continues to be around supply outpacing demand, although Hurricane Harvey took the headlines with the expectation of oil dropping further.  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-17.png 

 Intermodal vs Diesel Against Baseline-15.png

Intermodal & Diesel Yr-over-Yr Comparison-17.png Intermodal & Diesel Price Yr-over-Yr  Change-7.png

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

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

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