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In November, intermodal spot rates in Chicago, Atlanta, and Los Angeles exhibited varying trends. Chicago experienced the most significant growth, with a 7.66% month-over-month increase, solidifying its upward momentum. Atlanta saw a 4.56% month-over-month decline, reflecting short-term softening despite maintaining year-over-year growth. Los Angeles displayed a 2.06% month-over-month increase, continuing its steady rise and leading the three markets with the highest average rates. These movements highlight the unique dynamics of each region, with Chicago showing resilience, Atlanta facing slight seasonal adjustments, and Los Angeles maintaining its strong position as a key intermodal hub.

Chicago’s intermodal spot rates saw significant movement in November 2024, with the average spot rate climbing to $3.45 per mile, reflecting a 7.66% month-over-month increase from October 2024. Compared to November 2023’s rate of $2.56 per mile, the market has experienced an impressive 34.77% year-over-year increase, highlighting robust growth. Looking at trends since the start of the year, November’s rate also represents a modest 2.38% increase from the January 2024 baseline of $3.37 per mile, indicating steady pricing momentum throughout the year. These pricing shifts underline Chicago’s strength as a pivotal hub for intermodal shipping, benefiting from both seasonal demand spikes and improved carrier availability.

In November 2024, Atlanta’s intermodal spot rates averaged $3.36 per mile, marking a 4.56% month-over-month decrease from October. Despite this dip, rates remain elevated compared to November 2023’s average of $2.95 per mile, representing a 13.90% year-over-year increase. When compared to the January 2024 baseline of $3.25 per mile, November’s rate reflects a 3.38% increase, underscoring steady growth over the course of the year. This performance suggests that while the Atlanta market experienced short-term softening, it has maintained a strong position relative to historical benchmarks.

Los Angeles’ intermodal spot rates rose slightly in November 2024, reaching $4.29 per mile, a 2.06% month-over-month increase from October. Compared to November 2023’s rate of $4.08 per mile, this marks a 5.15% year-over-year increase, demonstrating steady annual growth. Since January 2024, when the rate was $3.96 per mile, Los Angeles has experienced a 8.33% increase, highlighting consistent upward momentum in pricing throughout the year. As a critical hub for intermodal shipping, Los Angeles continues to face high demand and evolving capacity constraints, which likely contributed to the gradual rate increases observed in 2024.