Intermodal Spot Rates September 2022: A look by market #DrayNowData
For a look at last month’s data dive on intermodal spot rates, click the link here.
In the month of September, all key markets on the DrayNow platform saw a decrease in the average intermodal spot rate per mile. This is the first time in 2022 that spot rate trends in our markets moved consistently with one another. And these trends are in line with the continued decline in diesel prices.
With a 9% decrease in the average intermodal rate for the Los Angeles market, spot rates are at their lowest point since April. Spot rates in September 2022 are actually down 5% when compared to September 2021.
The Chicago market on the DrayNow platform saw the largest month-over-month decrease, down 10% from August. This is the lowest spot rate per mile that Chicago has seen since January. Compared to 2021, spot rates are up 27%.
Intermodal spot rates in Atlanta continue to be the most stable, this time only decreasing 2% in September. Even though the average rate is down, this is still the second highest rate per mile we have seen in Atlanta in 2022. Year-over-year, the average spot rate for this market is up 3%.
In September, intermodal rates in the more expensive markets of Los Angeles and Chicago dropped at a higher percentage than the rates in Atlanta, a lower priced market. This has brought the highest and lowest average intermodal spot rates on the DrayNow platform closer than usual.
As we stated above, the decline in average intermodal spot rates across all markets is in line with the decrease in diesel costs all over the country. However, possible future instability in diesel supply is looming over the country, and it is unknown exactly where these prices will be for the last few months of the year and into 2023.
Shipping Freight? Get our new E-book.
Download our free e-book "Is there a future for Intermodal Marketing Companies?" and get DrayNow updates delivered straight to your inbox.
"*" indicates required fields