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10/30/2023
Total intermodal volume in third-quarter 2023 fell 7.1% to 4,213,559 units on a year-over-year basis, according to the Intermodal Association of North America.
While domestic container originations grew 1.6% to 2,045,222, loadings of international containers contracted 13.2% to 2,008,057. Trailer volume continued to fall, this time by 23.3% to 160,280, IANA officials said in a press release.
"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 IANA President and CEO Joni Casey. "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% of total volume — were down in Q3.
The Intra-Southeast corridor was up 5.6%, while the Midwest-Northwest climbed 3.5%. The Trans-Canada dropped the most at 16.6%. The Midwest-Southwest declined 9.4%; the South Central-Southwest, 9%; and the Southeast-Southwest, 7%. The Northeast-Midwest held its losses to 1.3%, IANA officials said.