Pushed by strong international trade volumes, total intermodal volume rose 7.9% year-over-year in the second quarter of 2024, according to the Intermodal Association of North America (IANA)’s Intermodal Quarterly report.
The growth was driven largely by international containers, which added 13.3%, leading 5.0% growth in domestic containers and a 20.6% drop in trailer on flatcar (TOFC), the Calverton, Maryland-based trade group said.
"International volume provided the biggest lift for intermodal in the second quarter. Domestic equipment played a supporting role and would have had a larger impact had the decline in TOFC moves not continued,”” said Joni Casey, president and CEO of IANA. “Federal Reserve actions over the next three months will help determine whether the industry can continue this progress.”
The seven highest-density trade corridors, which collectively handled more than 60 percent of total volume, were all up in the second quarter. The Midwest-Northwest gained 21.5% followed by the Southeast-Southwest at 20.1%. The South Central-Southwest posted 13.5%, and the Midwest-Southwest realized 11.4%. The Intra-Southeast, Trans-Canada and Northeast-Midwest came in at 7.4%, 4.6%, and 3.7%, respectively.
