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 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.

Intermodal spot rate activity on the DrayNow platform became even more volatile in the month of September, with double digit month-over-month percent increases in two markets. Rates in the Los Angeles market were up 28% compared to September, up 21% in Chicago and down 3% in Atlanta.

After decreasing 22% in August, the Chicago market saw intermodal spot rates come back up 21%, almost back to where rates were two months ago. This has been the most volatile period in the Chicago spot market in quite some time, and even rates seemed to have leveled out, it will be interesting to see what happens in October. Compared to September 2022, the cost to move intermodal freight in Chicago is down 26%.

Taking a look at the West Coast, Los Angeles spot rates saw a major spike just like Chicago, jumping 28% month-over-month. This is the highest average spot rate per mile in Los Angeles for the year, surpassing the previous record for 2023 set in February. With this major increase, the cost to move intermodal freight in Los Angeles is still 5% lower than the same time period last year.

In direct contrast with the high volatility in the other key intermodal markets, Atlanta spot rates were down 3% in September compared to August. The average cost to move intermodal spot freight in this market has been decreasing since June, however the month-over-month changes have been very low with the overall percent difference being 10%. Comparing September 2023 to last year, Atlanta spot rates are down 13%.

Intermodal peak season is well underway. As spot rates rose dramatically in Chicago and hit a year high in Los Angeles, it’s worth continuing to stay close to the data and see what trends are occurring in the cost to move intermodal spot freight across the country.