Intermodal Recovery Surges in October
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