The Journal of Commerce Intermodal Savings Index is showing that 2023 is the year of the shipper. Pricing power was in their corner during contract negotiations in the first and second quarters. Cheap truckload rates provided stiff competition to intermodal providers on lanes less than 1,200 miles. Trucks were cheaper than trains on several key lanes, making it difficult for intermodal providers to keep volume. On long hauls, particularly out of Los Angeles, asset-owning intermodal providers who brought in more than 37,000 new boxes in 2022 jockeyed for market share by slashing rates to manage their container glut. Non-asset intermodal providers struggled to fend off trucking and asset-owning competitors without significant sacrifice to margins. This session will explore whether any peak season has materialized, its impact on rates, and a look ahead to whether the scales will tip back toward carriers in 2024.
Senior Vice President-Intermodal
Vice President, Logistics
Journal of Commerce by S&P Global
Senior Editor-Intermodal Rail and Southeast Ports