Spot U.S. intermodal rates showed broad weakness this week especially in East-West lanes. An index of heavily trafficked domestic intermodal lanes dropped from $2,324 for a '53 foot all-inclusive door-to-door move to $2,085. An index of West-to-East rates fell from $2,872 to $2,518, according to spot rate data provided by IDS.
Domestic intermodal rates continued to soften last week as the quarter winds to a close, according to the 3PL IDS. At the same time East-West rates are diverging, with West-to-East rates softening as East-to-West rates rise.
Spot container rates from Shanghai to ports in North Europe, the Mediterranean, the U.S. West Coast and the U.S. East Coast all lost ground this week, although at a slower rate than in recent weeks, according to the weekly Friday release of the Shanghai Container Freight Index.
The Shanghai Containerized Freight Index for the Asia-Europe market continued its upward spiral this week, rising 13.4 percent to $1,491 per 40-foot containers moving to North Europe ports. Coming on top of last week’s 22.4 percent increase, the index has soared more than 35 percent in two weeks, indicating initial market acceptance of carriers’ scheduled Nov. 1 rate increases.
Backhaul container rates were relatively stable this week and remained above year earlier levels, according to the latest sub-indices of the World Container Index, while the WCI's headhaul Shanghai-Rotterdam rate soared.