November intermodal volumes followed a continuing theme of annual gains and mixed year-to-date volumes, according to data provided to LM by the Intermodal Association of North America (IANA).
Total November shipments—at 1,565,892—saw an 8.6% annual gain. Domestic containers—at 684,694—were up 4.8%, while trailers—at 104,690—were up 12.4%. All domestic equipment—at 789,654—was up 5.7%. ISO, or international, containers—at 776,238—saw an 11.8% increase.
On a year-to-date basis through November, IANA reported the following:
A major driver for intermodal gains has been the e-commerce surge spurred on by the ongoing COVID-19 pandemic, as well as inventory restocking efforts, and a domestic equipment bounce back.
In its third quarter report, IANA explained that “ongoing impacts of COVID-19 makes forecasting intermodal changes challenging,” adding that it expects total quarterly intermodal volume to continue to head up over the balance of 2020, at what it called a moderate pace, with: domestic container volumes pegged to increase 2%-to-4%; trailer loads to fall around 6% annually, still improving over double-digit losses year-to-date through July; intermodal is expected to fall at least 8%; and total intermodal volumes are projected to fall between 3%-to-5%.
“Projections have intermodal volumes staying strong through at least the end of this year,” IANA President and CEO Joni Casey told LM. “Given the volatility resulting from COVID-related shutdowns and the impact on the economy, it’s hard to tell what traffic will do going into Q1 of 2021.”
Addressing the impact of still-tight truckload capacity as a driver for intermodal gains, Casey said that is definitely a reason for gains in domestic intermodal volumes, along with the significant increases in e-commerce shipments. And she added that the pairing of inventory replenishment occurring in tandem with strong import volumes a major boost for intermodal, and e-commerce volume growth are also major catalysts.