July 28, 2023

Press Release: Intermodal Challenged in Second Quarter

Anticipated Volume Growth Lifts 2023 Outlook

CALVERTON, MD, July 28, 2023 – Total intermodal volumes fell 10.4 percent year-over-year in the second quarter of 2023, according to the Intermodal Association of North America. All segments showed declines: domestic containers, 6.3 percent; international containers, 13.2 percent; and trailers, 20.1 percent.

““Slower year-over-year demand for goods and a competitive freight environment have taken its toll for a second quarter,” said Joni Casey, president and CEO of IANA. “On the other hand, the numbers suggest a later peak this year and an improved picture for the second half of 2023.”

The seven highest-density trade corridors, which collectively handled more than 60 percent of total volume, were all down in the second quarter. The Southeast-Southwest dropped 18.3 percent, followed by the South Central-Southwest at 13.8 percent. The Midwest-Southwest declined 12.9 percent; Trans-Canada, 10.5 percent, and the Midwest-Northwest, 9.1 percent. The Northeast-Midwest came in 7.6 percent lower, while the Intra-Southeast corridor posted losses of 7.1 percent.

Total IMC volume fell 31.9 percent year-over-year in Q2, with intermodal traffic down 16.5 percent and highway loads down 39.7 percent.

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