Rail/Intermodal
North American rail carload and intermodal volume declined in the latest week but were close to or above the levels during the same week last year, according to data from the American Association of Railroads. Carload volume fell 2.3% week-over-week, although a 9.4% drop in coal – by far the single largest rail commodity – was the principal drag on traffic. Economically sensitive carload freight, which excludes coal, petroleum, and grain, was down only 0.8% from the prior week.
Intermodal volume fell a relatively sharp 3.7% w/w, although the y/y comparison was still a strong 11.2% as week 14 last year also saw a notable drop.
Through the first 14 weeks, North American rail traffic is up 2.2% solely due to intermodal’s strength. Intermodal volume is up 8.6% from the same 2023 period. Total carload volume is down 3.6% as coal volume continues to deteriorate. Coal is down 14.4% y/y through the first 14 weeks of the year.
Only three carload commodity groups – petroleum/petroleum products, chemicals, and motor vehicles and parts – are posting stronger volumes than during the comparable 2023 period. Several other commodity groups are down less than 1.5% y/y, however. After coal, the weakest commodity group y/y is nonmetallic minerals, down 7.1%.
