Intermodal volumes fell sharply in Q1 in response to flagging consumer demand
Slump hit every sector, including domestic containers, international containers, and trailers, IANA says
Total intermodal volumes fell 8.6% year-over-year in the first quarter of 2023, according to the Intermodal Association of North America (IANA)’s Intermodal Quarterly report.
The slump was visible in all segments: domestic containers, -5.8%; international containers, -8.8%; and trailers, -28.8%.
Volume also dropped across all geographies, spanning the seven highest-density trade corridors, which collectively handled more than 60% of total volume. Those decreases include the:
- South Central-Southwest, with a 19.2% deficit
- Southeast-Southwest at 16.0%
- Midwest-Southwest, declined 9.2%
- Midwest-Northwest, 7.8%
- Northeast-Midwest, 7.8%
- Intra-Southeast came in 5.4% lower
- Trans-Canada corridor lost 1.2%
Despite the drop, IANA leaders saw a silver lining in the trend, saying the dip is also helping the sector prepare for a pending economic rebound. “Falling consumer demand for goods and related import declines have impacted intermodal volumes,” Joni Casey, president and CEO of IANA, said in a release. “Conversely, network fluidity and equipment availability continue to recover, so we are well-positioned for growth over the ensuing months.”