Plus: U.S. imports slow as tariffs bite, Mexico slaps 50% tariffs on Chinese goods, UP–NS defend their $85B merger amidst rival alliances, and more.
Union Pacific and Norfolk Southern say rival alliances prove their merger will strengthen competition, as CSX and CN tout new intermodal services linking Canada’s West Coast to Nashville.
Mexico plans tariffs of up to 50% on Chinese goods, reshaping North American trade flows as C.H. Robinson rolls out a new U.S.–Mexico consolidation service to cut costs.
October sees robust intermodal container rebound with 745,500 units, signaling market recovery and fluidity.
The Intermodal Association of North America reported a significant rebound in domestic intermodal container volume with 745,500 units in October, indicating a stronger recovery than expected. This uptick to 1.43 million units for September and October combined surpasses 2022's figures and approaches the 2020 peak, leading to an improved forecast with only a 1.5% to 2% decline for the year, better than earlier predictions. Despite this growth, the impact on Q1 pricing is uncertain, but there's optimism for a potential intermodal pricing reset in 2024. Fluidity has also increased, evidenced by steady box turns despite a percentage of containers being stacked.
Source: Ari Ashe
Union Pacific’s $85 billion Norfolk Southern merger and Hub Group’s $51.8 million Marten Intermodal deal signal major shifts in U.S. freight, raising questions on competition, costs, and capacity.
Walmart’s intermodal fleet, consisting of 14,100 53-foot containers, will now be managed by J.B. Hunt.
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