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The content below is for brokers interested in utilizing the DrayNow spot market. For brokers interested in securing intermodal drayage service for their contracted lanes, please feel free to reach out to us via contact form.

For a look at last month’s data on intermodal spot rates, click the link here.

The April 2023 numbers are in, and intermodal drayage spot rates on the DrayNow platform were relatively stable across all key markets. For context, the Atlanta market saw a 2% month-over-month increase, Los Angeles saw a 3% rise while the Chicago market dipped 6%. While they are all stable in trends, spot rates across these markets are lower than the same time last year.

Following a record low in the average spot rate per mile going in Los Angeles, the market saw a slight 3% increase. This muted month-over-month spot rate change is in contrast to the sharp rises and falls this particular market has been seeing in recent months. Compared to April 2022, LA intermodal spot rates are down 22%.

The Chicago market saw the most intermodal spot rate action this month, dropping 6% compared to last month. This was the lowest cost to move intermodal spot freight in Chicago this year, and all of 2022. In comparison to the same period last year, spot rates in this market are down 38%.

Over in Atlanta, intermodal spot rates were up once again, increasing 2% month-over-month. Rates in this area are now higher than the average spot rates in the Chicago intermodal market. The average Atlanta spot rate per mile this month is 5% lower than April 2022.

The declining trends in the average spot rate it takes to move freight are in tandem with the intermodal volumes in the industry. Q1 of 2023 saw intermodal volumes decline 5.8% due to lower demand. As intermodal volumes fall, spot rates are going to come down due to the increase in available intermodal capacity. This does make it a good time to stay agile with pricing spot orders and see what rates will connect with capacity.