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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 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.

Compared to June 2023 intermodal spot rates on the DrayNow platform saw greater change in July, mostly propelled by rates in the Chicago market. Spot rates were down 1% in Atlanta, up 3% in Los Angeles and up 10% in Chicago. Overall, the data from July shows that the cost to move intermodal freight is increasing.

The most notable piece of data from July’s spot rate trends is the 10% increase in Chicago rates. With this month-over-month change, the cost to move intermodal freight in Chicago is now higher than the cost in the Atlanta market. In comparison to rates in this market from July 2022, intermodal spot rates this year are down 24%.

Spot rates in the Los Angeles market have also increased, up 3% month-over-month. This is the highest that rates have gone in LA since February of this year. Intermodal spot rates in this market are still down 35% compared to last year, but this gap is likely to shrink as the chart shows spot rates hitting their peak this time last year before steadily declining.

Drayage spot rates in Atlanta continued to stay relatively flat in July, dropping just 1% compared to June. Even though intermodal rates have decreased in the market, they are still higher than last year, making Atlanta the only market to see higher rates this year. Compared to July 2022, spot rates in the Atlanta market are up 2%.

For the first time since October 2022, gasoline and diesel prices are steadily rising. The cause of this sudden change is in part due to the severe heat hampering operations at oil refineries in the United States. The increase in diesel prices is sure to affect the intermodal market. The question is how quickly will the drayage market be seeing an impact? And how large will that impact be?