IANA: 2Q intermodal volume grows by largest margin in three years

Intermodal volume increased across all segments in the second quarter, contributing to the largest quarterly intermodal growth since 2011, according to the Intermodal Association of North America's (IANA) most recent "Intermodal Market Trends & Statistics" report.

International container volume increased 9.6 percent, domestic container volume rose 7.6 percent and trailer volume grew 4.3 percent compared with second-quarter 2013. Because of the strong second quarter, intermodal volume grew an average of 5.5 percent in 2014's first half, just below the 5.8 percent growth recorded in the second half of 2013, according to IANA.

"The second quarter results were indicative of a rebounding economy and higher-than-predicted import shipments," said IANA President and Chief Executive Officer Joni Casey in a prepared statement. "It is also probable the harsh winter that resulted in constricted first-quarter capacity contributed to the second quarter's strong growth, by comparison."

Volume in the seven highest-density trade corridors, which account for 66.2 percent of total intermodal volume, grew 7.4 percent in the second quarter, falling below the 8.2 percent industry average. However, five of the seven bi-directional lanes recorded growth near or above industry averages. The Trans-Canada corridor posted the highest gain at 10.5 percent, largely due to international intermodal shipments from eastern Canada to western Canada, according to the report.

Meanwhile, eight of the nine IANA regions experienced growth in the second quarter, with six areas reporting increases larger than 10 percent. Those six areas were "heavily impacted by strong showings in international intermodal shipments," according to IANA. Volume in the Midwest and Southwest — the two largest IANA regions that account for almost 50 percent of total loadings — climbed 6.3 percent and 7.8 percent, respectively.