Intermodal volumes finish Q1 with more volume declines

Intermodal volumes, for the month of March, again saw annual declines, according to data provided to LM by theIntermodal Association of North America (IANA).

Total March volume—at 1,373,261 units—fell 13.1% annually. Trailers—at 63,315—saw a 30.5% annual decline, and domestic containers—at 689,170—were down 8.4%. All domestic equipment, which is comprised of trailers and domestic containers, were down 10.9%, to 754,485. ISO, or international, containers—at 618,776—dropped 15.7%.

Through the first three months of 2023, IANA reported that total volume—at 3,940,153 units—is off 8.6% compared to the same period a year ago. Trailers—at 191,941—are down 28.8%, and domestic containers—at 1,927,682—are off 5.8%. All domestic equipment—at 2,119,623—fell 8.5%. And ISO containers—at 1,820,530—saw an 8.8% decrease.

As has been the case, March intermodal volumes have been up against the pairing of reduced consumer demand and the shift in spending from goods to services are longer-term trends that have affected imports and intermodal volumes for most of the past twelve months, IANA President and CEO Joni Casey previously toldLM.

When asked how much of a factor the unresolved West Coast port labor negotiations are having on current volume levels, Casey observed that West Coast port directors agree that the labor negotiations are affecting volumes, but it's tough to determine how much of an actual impact they are having.

Addressing ISO volumes, Casey said that the easing of Covid policies in China has not been enough to overcome the headwinds facing intermodal so far this year, and year-over-year comparisons will remain difficult thru at least the second quarter.

“Also, the shift in consumer spending to services will continue to drive competition between intermodal and OTR trucking,” she said.