Overall intermodal traffic in North America fell 6.1 percent in second quarter 2016, the first volume decline in 25 consecutive quarters, according to data from the Intermodal Association of North America.
Intermodal Definition
From Wikipedia: Intermodal freight transport involves the transportation of freight in an intermodal container or vehicle, using multiple modes of transportation (rail, ship, and truck), without any handling of the freight itself when changing modes. The method reduces cargo handling, and so improves security, reduces damage and loss, and allows freight to be transported faster. Reduced costs over road trucking is the key benefit for inter-continental use.
Growth Snapped
American Shipper reports Intermodal Growth Streak Snapped in Q2.
- North American intermodal volumes in second quarter 2016 fell 6.1 percent to 4.27 million units compared with the prior year, according to the Intermodal Association of North America’s (IANA) second quarter Intermodal Market Trends & Statistics report.
- The second quarter decline followed 25 consecutive quarters of year-over-year growth.
- Intermodal trailer volumes dropped 28.6 percent, continuing a multi-year downward trend, while international shipments fell 9.3 percent and domestic container loads grew 3.4 percent.
Mike “Mish” Shedlock
Transitory. Oh,wait?
Eight years of corruption, financial repression, debt binging, war mongering, and lies — and still no recovery?
Maybe they should raise taxes, health care costs, and college tuition? Oh, they tried that already?
How about blaming Bush? over played? Well, how about blaming Putin? He keeps meddling with the warmonger’s plans. And the Chinese… Everyone knows the Chinese are up to no good. What about Elvis? Can we blame Elvis for something?
I got it!! Sasquatch ate the recovery! How about that for an excuse? What do the polls say about blaming sasquatch?
of course, it could be the corrupt morons (both parties) that have dominated politics for the last 25 years — but the lobbyists have an excuse for that
One reason why I think your call for millions of trucking jobs to disappear (from driverless rigs) by early 2020s a bit optimistic. If volume declining I just don’t see the capex being spent. Instead, existing shipping firms slashing prices … and / or go out of business.
Certainly, less trucking miles means attrition of trucking jobs. If automation of trucking can reduce costs compared to more labor-intensive trucking, then you will have new firms enter the fray with driverless trucks. Low interest rates and higher wage mandates favor capex for automation.