Market Watch
By Staff -- Logistics Management, 10/1/2000
Trucking
Shippers who rely on less-than-truckload (LTL) carriers took a big hit in August. According to the Bureau of Labor Statistics, LTL carriers raised rates by 4.8% on average over July levels. LTL rates are up 8.2% compared with August 1999 levels and are up 49.6% compared with prices recorded back in June 1992. Truckload (TL) rates for intercity freight, meanwhile, increased only 0.5% between July and August 2000. Those rates are up just 2.7% from year-earlier levels and up 8.4% over rates charged in June 1992.
% CHANGE VS.: 1 month ago 6 mos. ago 1 yr. ago Less-than-truckload +4.8 +4.5 +8.2 Truckload +0.5 +1.9 +2.7 Agricultural-not local 0.0 +3.7 +4.8 Agricultural-local 0.0 0.0 +1.7 Agricultural - local 0.0 0.0 0.0 |
Water
In August 2000, rates for shipping via U.S.-owned ships were up 2.6% from July and 9.3% from August 1999 rates. The trouble once again lies in rates for inbound foreign transportation. Average prices in this category rose by 7.9% between July and August 2000 and are up 27.8% over August 1999 levels. Meanwhile, prices for outbound foreign transportation rose only 0.9% from July and 7.5% from year-ago levels. By contrast, average prices for domestic shipping were unchanged between July and August, and were up just 4.4% from year-ago levels.
% CHANGE VS.: 1 month ago 6 mos. ago 1 yr. ago Inbound liner +1.9 -5.1 -1.9 Outbound liner +0.9 +14.6 +7.5 Domestic deep sea 0.0 +1.1 +4.4 Grt. Lks.-St Lawrence 0.0 0.0 0.0 Mississippi River +4.2 +7.4 +4.4 |
Rail
U.S. rail carriers may wish for rate hikes to help protect their fragile margins, but that doesn't appear to be in the cards. In August, rail carriers reported that both intermodal and general rail service prices fell 0.3% from July levels. Compared with rates from one year ago, intermodal pricing was up just 0.6% and general rail rates were up 1.8%. The average price for chemical shipments, though, actually fell 2.2% in August from July levels and increased only 2.7% compared with rates from one year ago.
% CHANGE VS.: 1 month ago 6 mos. ago 1 yr. ago Coal/Petroleum 0.0 +0.9 +0.9 Chemicals -2.2 +2.1 +2.7 Farm products +1.6 +1.5 +3.1 Motor vehicles 0.0 -0.4 -0.4 Metallic ores 0.0 0.0 +4.8 |
Air
According to the most recent data provided by the U.S. Bureau of Labor Statistics, prices for shipping air cargo via scheduled flights fell 1.9% between July and August 2000. That's an indication that fuel surcharges are not yet showing up in the BLS's aircargo data, although they already have pushed up passenger prices. Air-courier services, meanwhile, have been showing some inflationary tendencies. Between August 1999 and August 2000, domestic air courier rates soared 10.3%, while international air-courier rates climbed 4.6%.
% CHANGE VS.: 1 month ago 6 mos. ago 1 yr. ago Scheduled air cargo (property) -1.9 -1.3 -0.8 Domestic air courier 0.0 +3.9 +10.3 International air courier 0.0 +2.1 +4.6 |
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