AAR: Carloads Down, Intermodal Up for Week 10

(Union Pacific Photograph)

U.S. rail traffic for the week ending March 9, 2024 (Week 10) was up 5% from the prior-year period, as intermodal gains more than offset carload losses, according to the Association of American Railroads’ (AAR) latest report.

U.S. Class I railroads hauled 472,662 carloads and intermodal units for the week ending March 9, 2024—rising 5% from the same point last year, AAR reported March 13. Total carloads came in at 214,585, down 3.7% from 2023, while U.S. weekly intermodal volume was 258,077 containers and trailers, up 13.5% from 2023.

The week ending March 2, 2024 saw similar results. As for February, rail traffic data showed “elements that inspire optimism and elements that call for caution,” according to AAR’s newly appointed Chief Economist Dr. Rand Ghayad. He reported on March 6 that “[i]ntermodal volumes have consistently grown over the past six months, signaling increased confidence among consumers and retailers. At the same time, carloads of industrial products remain below levels from last spring and summer, reflecting ongoing challenges in the industrial sector.”

For the week ending March 9, 2024, five of the 10 carload commodity groups posted an increase compared with the same week in 2023. They included chemicals, up 1,916 carloads, to 33,713; petroleum and petroleum products, up 1,399 carloads, to 9,930; and metallic ores and metals, up 685 carloads, to 18,882. Commodity groups that posted declines included coal, down 8,963 carloads, to 55,963; nonmetallic minerals, down 2,691 carloads, to 28,505; and miscellaneous carloads, down 726 carloads, to 7,791.

For the first 10 weeks of this year, U.S. railroads reported cumulative volume of 2,125,301 carloads, a 4.5% fall-off from the same point in 2023; and 2,504,403 intermodal units, an 8.5% increase over 2023. Total combined U.S. traffic for the first 10 weeks of 2024 was 4,629,704 carloads and intermodal units, up 2.1% from last year.

North American rail volume for the week ending March 9, 2024, on 12 reporting U.S., Canadian and Mexican railroads totaled 321,441 carloads, dipping 3.2% from the same week last year, and 342,181 intermodal units, rising 12.0% from last year. Total combined weekly rail traffic in North America was 663,622 carloads and intermodal units, up 4.1%. North American rail volume for the first 10 weeks of this year was 6,467,217 carloads and intermodal units, up 1.4% compared with 2023.

Canadian railroads reported 89,470 carloads for the week ending March 9, 2024, a 1.8% decrease, and 71,752 intermodal units, a 7.2% gain over the same week last year. For the first 10 weeks of 2024, they reported cumulative rail traffic volume of 1,554,602 carloads, containers and trailers, down 1.9%.

For the week ending March 9, 2024, Mexican railroads reported 17,386 carloads, down 4.3% from the prior-year period, and 12,352 intermodal units, up 11.0%. Their cumulative volume for the first 10 weeks of this year was 282,911 carloads and intermodal containers and trailers, increasing 8.8% from 2023.