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Plus, we're taking a look at how the freight market has performed in the first three months of 2024.
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
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