Blog

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

Check out last month’s data on intermodal spot rates in our key markets.

In the month of February, intermodal spot rates in key markets on the DrayNow platform saw some significant changes. Spot rates in each market are also continuing to trend close to one another. For context, Chicago spot rates are down 8%, down 10% in Los Angeles and up 14% in Atlanta.

Following the large jump in the average spot rate per mile just last month, Chicago intermodal rates are back down, decreasing 8% month-over month. Even though rates in this market are down, they are still up from the lows seen in November and December of last year. Compared to the same time last year, drayage spot rates are up 2%.

Spot rates in Los Angeles also fell, dropping 10% compared to January. The LA market has not seen a rise in the average spot rate since September of last year, and February’s data reflects the lowest point spot rates have gone since April. In comparison to February 2023, Los Angeles intermodal spot rates are down 20%.

The most impactful change in spot rate trends happened in the Atlanta market, where drayage spot rates rose 14%. This month’s data marks the first time that spot rates in Atlanta are the most expensive out of our key markets as they have now surpassed LA average rates. February 2024 spot rates in Atlanta are also up 26% compared to February 2023.

February’s spot market activity proves that anything can happen from one month to another. With Atlanta overtaking the Los Angeles market in the highest average spot rates for the month, it will be very interesting to see if this continues into next month. This also raises the question: how much lower can Los Angeles spot rates go?