Intermodal volume grew slightly in the third quarter - though largely due to a substantial increase in the number of privately owned containers rather than demand for rail freight. That's a major take away from the Q3 2022 Journal of Commerce (JOC) Intermodal Savings Index, released at the end of October. In other words, volume improved in essence because there are more containers available now than this time last year. Additionally, the index shows intermodal shippers saved just over 30% on intermodal contracts and 12% on spot intermodal rates in the past quarter - in line with long-term averages. The latest Intermodal Savings Index also includes commentary from key stakeholders that indicates progress in intermodal service of late, but still room for improvement. 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: