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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.

For the month of May, intermodal drayage spot rates on the DrayNow platform saw incredibly similar trends month-over-month. The Atlanta market once again saw a 2% increase in the average rate per mile, Los Angeles was also at a 2% rise in intermodal spot rates, while Chicago was down again, this time decreasing 4%.

Spot rates in the Los Angeles market are once again headed back up following the record low that we saw in March. But at only a 2% increase, intermodal drayage rates in LA are still down for the year. And compared to the same time period in 2022, rates in this region are 33% lower present day.

The Chicago market continues to see intermodal spot rates on a downward path, dropping 4% between April and May. The drop in rates for this month have set yet another record for the lowest costs for Chicago intermodal drayage in the past 12 months. Spot rates are 43% lower in May 2023 compared to May 2022.

While the Chicago and Los Angeles markets are still hovering around incredibly low rates compared to the historical data, intermodal spot rates in Atlanta are still going up. The 2% increase brings Atlanta spot market rates up to the second highest level of the year. In comparison to May of last year, intermodal drayage rates in Atlanta are up 7% in 2023.

Given the relative stability in spot rates across each intermodal market, it’s worth taking a look at how diesel prices may be a factor in setting spot rates. Diesel prices over the past few months have been on a steady decline and much lower than the same time period in 2022. While intermodal spot rates have been up and down this year, they have remained much lower than last year.