October 27, 2023

Headwinds Slow Intermodal in Third Quarter

Domestic Containers Enter Positive Territory

CALVERTON, MD, Oct 27, 2023 – Total intermodal volumes fell 7.1 percent year-over-year in the third quarter of 2023, according to the Intermodal Association of North America. While domestic container originations grew 1.6 percent, loadings of international containers contracted 13.2 percent, and trailers continued to fall, this time 23.3 percent.

“The picture improved for domestic containers, but slower demand for goods, still high inventories, and a competitive freight environment continued to check intermodal volumes in the third quarter,” said Joni Casey, president and CEO of IANA. “We are starting to see signs though, for a turnaround next year.”

All but two of the seven highest-density trade corridors, which collectively handled more than 60 percent of total volume, were down in the third quarter. The Intra-Southeast corridor was up 5.6 percent, while the Midwest-Northwest climbed 3.5 percent. The Trans-Canada dropped the most, 16.6 percent. The Midwest-Southwest declined 9.4 percent; the South Central-Southwest, 9.0 percent; and the Southeast-Southwest, 7.0 percent. The Northeast -Midwest held its losses to 1.3 percent.

Total IMC volume fell 28.7 percent year-over-year in Q3, with intermodal down 12.1 percent and highway traffic down 36.7 percent.

Members of the press may request the 2023 Third Quarter Intermodal Quarterly report from Hope Kabik at hkabik@intermodal.org