April 28, 2023

Intermodal Seeks Solid Footing in First Quarter

Low Freight Demand Weakens Volumes

CALVERTON, MD, April 28, 2023 – Total intermodal volumes fell 8.6 percent year-over-year in the first quarter of 2023, according to the Intermodal Association of North America’s Intermodal Quarterly report. All segments showed declines: domestic containers, -5.8 percent; international containers, -8.8 percent; and trailers, -28.8 percent.

“Falling consumer demand for goods and related import declines have impacted intermodal volumes,” said Joni Casey, president and CEO of IANA. “Conversely, network fluidity and equipment availability continue to recover, so we are well-positioned for growth over the ensuing months.”

The seven highest-density trade corridors, which collectively handled more than 60 percent of total volume, were all down in the first quarter. The South Central-Southwest, with a 19.2 percent deficit, followed by the Southeast-Southwest at 16.0 percent. The Midwest-Southwest, declined 9.2 percent; Midwest-Northwest, 7.8 percent, and the Northeast-Midwest, 7.8 percent. The Intra-Southeast came in 5.4 percent lower, while the Trans-Canada corridor held losses to 1.2 percent.

Total IMC volume fell 34.8 percent year-over-year in Q1, with intermodal traffic down 17.7 percent and highway loads down 43.5 percent.

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