IANA: Intermodal Stands Out in 4Q23
Written by Carolina Worrell, Senior Editor
Total intermodal volumes gained 3.1% year-over-year in fourth-quarter 2023, according to the Intermodal Association of North America (IANA).
According to IANA, while trailers dropped 21.6%, domestic container and international container originations grew 6.0% and 2.9%, respectively—the first of the past nine quarters showing year-over-year growth.
All but one of the seven highest-density trade corridors, which collectively handled more than 60% of total volume, were up in the fourth quarter, according to IANA. The South Central-Southwest corridor was up 9.6%, while the Southeast-Southwest climbed 8.7%, and the intra-Southeast added 6.3%. The Midwest-Southwest and Midwest-Northwest both gained 4.8%, and the Northeast-Midwest put on 4.6%. The Trans-Canada was the only loss at 2.3%.
Total IMC volume fell 11.8% year-over-year in Q4, with intermodal down 6.6% and highway traffic down 14.9%.
“The fourth quarter may have been an inflection point for intermodal. Both trade flows and inventories started to swing in its favor,” said IANA President and CEO Joni Casey. “Monetary actions by the Federal Reserve to bring down interest rates in 2024 could further set the industry up for more sustainable growth.”
