East to west spot intermodal rates shot up last week, partly because of a shortage in the New York-New Jersey to Los Angeles lane, but overall spot rates remained relatively flat compared to last week, still hovering at levels roughly 25 percent lower than in early October.
All-in, door-to-door -53-foot domestic intermodal rates compiled by IDS were generally flat on west to east lanes and down marginally on north to south and south to north lanes. On an index of east to west lanes, the index was up $163 or 9.4 percent to $1,903. This was partly because of a jump in rates from New York-New Jersey to Los Angeles, which spiked from $1,790 to $2,900 or 59 percent based what will likely be a temporary shortage of equipment in that lane, IDS said.
The big increase in the NY-NJ to Los Angeles lane “is driven off a shortage of containers in the market for that lane, so will correct itself quickly,” IDS Executive Vice President Rick LaGore said. “Other than that outlier, things are still pretty flat with increases primarily coming from the east to west lanes.”
An overall index of rates stood at $2,078, still hovering at lows roughly $500 or 24 percent off its level in early October.