U.S. rail carload and intermodal volumes are mixed in March, reports AAR

United States rail carload and intermodal volumes, for the month of March, were mixed, according to data issued this week by the Association of American Railroads (AAR).

Rail carloads—at 1,169,546—increased 1.2%, or 13,456 carloads—annually, AAR reported. And it added that nine of the 20 carload commodity groups tracked by the AAR saw annual gains, including: chemicals, up 18,291 carloads or 11.7%; coal, up 16,637 carloads or 5.4%; and crushed stone, sand & gravel, up 7,974 carloads or 8.5%. Commodities that saw declines in March 2022 from March 2021 included: grain, down 13,839 carloads or 10.8%; petroleum & petroleum products, down 9,033 carloads or 16.5%; and all other carloads, down 4,459 carloads or 14.6%.

This marked the 12th annual U.S. carload gain in the last 13 months, according to the AAR, with the caveat that it is also is smallest percentage gain over that span. Average carloads per week for the month—at 233,909—represented its second-highest level in the last nine months.

Intermodal units have been down annually for seven of the last eight months. Average intermodal units per week—at 267,628—were down 6.4% annually.  

When excluding coal, carloads were down 3,181 carloads, or 0.4% annually and when excluding coal and grain, carloads were up 10,658 carloads, or 1.5%, said AAR.

Intermodal containers and trailers—at 1,338,138 units—saw a 6.4%, or 92,170 units—annual decrease.

“March was another mixed month for U.S. rail volumes,” said AAR Senior Vice President John T. Gray in a statement. “It was the best month ever for carloads of chemicals while carloads of crushed stone and sand, food products, lumber and motor vehicles were higher than they’ve been in months. On the other hand, carloads of grain, petroleum products and paper products, among others, were down in March. These conflicting trends reflect an economy with a good deal of directional uncertainty; uncertainty that needs resolution before its full potential can be realized.”

For the week ending April 2, U.S. rail carloads eked out a 0.6% increase, to 231,963, trailing the weeks ending March 26 and March 19, at 233,555 and 232,770, respectively.