A combination of too few loads, too many containers and too much inventory suggests a freight recession is here according to the Q4 2022 Journal of Commerce (JOC) Intermodal Savings Index, released today. North American intermodal volume was down 3.6% from the fourth quarter of 2021. Domestic volume last quarter in fact, was at its lowest fourth quarter level since 2015. The Intermodal Savings Index (ISI) itself showed an average contract savings of 27.4% for intermodal shippers over truckload, with an average of 14.8% savings on spot rates. Contract savings was in line with long-term averages, while spot savings was a bit more than usual. Included commentary from those in the industry - both shippers and IMCs - echoes the third quarter's, that intermodal service has continued to improve but is still not at its most ideal. Read the full report for more detail:
Each quarter, the Journal of Commerce (JOC) releases its proprietary Intermodal Savings Index, which combines real data from the intermodal and truckload marketplace with forecasts and more. We provide statistics used in this valuable look at the intermodal market as it relates to truckload options. Find some of our contributions in our weekly Intermodal Spot Rate Pricing Trendline Analysis.
Need assistance with intermodal shipping - or just about any other shipping or logistics need? Let us know, and we'll discuss how you can put us to work for your company. We also have a variety of useful information about intermodal, plus freight and logistics in general (as well as what we do at InTek) at our Resources page. Additionally, read our blog for information and updates on the freight industry. Or you can start with a few of the links below: