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

Following a volatile few months for intermodal spot rate trends on the DrayNow platform, our key markets seem to be trending consistently month-over-month. Los Angeles has yet again hit a new high for spot rates, while Chicago and Atlanta saw month-over-month decreases in the average rate per mile.

Intermodal spot rates in the Los Angeles market have gone up 8% month-over-month and once again set a record for the highest average spot rate per mile recorded across the app. In comparison to the month of May, June 2022 spot rates are higher by 30% than the same time last year.

While intermodal rates in LA hit a new record, average spot rates in Chicago were down 12%, bringing them to the lowest point seen since January of this year. Even though Chicago rates had a significant drop in June, the average rate per mile was still higher than any point in 2021. In fact, compared to June 2021, the average rate per mile in Chicago is still up 30%.

The Atlanta market continues to see the average spot rate per mile decrease, this time sliding just 2%. Atlanta continues to be the most consistent market on the DrayNow platform in terms of intermodal spot rate trends. For the second month in a row, average spot rates in Atlanta are actually down compared to last year, this time 18% lower.

Comparing Q1 to Q2, Chicago rates are up 1%, Atlanta rates are up 7% and Los Angeles rates are up 8%. This correlates to the rise in diesel costs that started in Q1 and continued throughout the entirety of the second quarter. As the cost for diesel at the pump is consistently dropping, it will be interesting to see what that will do to intermodal spot rates.

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