For second-quarter 2023, total intermodal volumes dropped 10.4% from the prior-year period, according to the Intermodal Association of North America (IANA) Intermodal Quarterly Report. However, “anticipated volume growth” is lifting the 2023 outlook, the association noted.
All segments showed declines in second-quarter 2023: domestic containers, down 6.3% to 1.972 million units; international containers, down 13.2% to 1.997 million units; and trailers, down 20.1% to 183,935 units.
“The seven highest-density trade corridors, which collectively handled more than 60% of total volume, were all down in the second quarter,” IANA reported July 28. The Southeast-Southwest fell 18.3%, followed by the South Central-Southwest at 13.8%. The Midwest-Southwest declined 12.9%; Trans-Canada, 10.5%, and the Midwest-Northwest, 9.1%. The Northeast-Midwest came in 7.6% lower, while the Intra-Southeast corridor posted losses of 7.1%.
Total IMC volume dropped 31.9% year-over-year in second-quarter 2023, with intermodal traffic down 16.5% and highway loads down 39.7%.
“Slower year-over-year demand for goods and a competitive freight environment have taken its toll for a second quarter,” IANA President and CEO Joni Casey said. “On the other hand, the numbers suggest a later peak this year and an improved picture for the second half of 2023.”