ISO container volume increased 13.5 percent for the first quarter of 2002, according to a report by the Intermodal Association of North America (IANA). The report points out that these are encouraging increases after first quarter declines, and have been widely interpreted as early signs of a broader freight industry recovery. The report also notes that most major railroads have reported improved second quarter earnings attributable to intermodal business.
The quarterly report highlights the seven bi-directional corridors in the United States with the most intermodal traffic, which showed growth in every lane compared to the second quarter of 2001. The South Central and Southwest corridor grew almost 18 percent as Eastbound (import) container traffic was up more than 20 percent while the Northeast and Midwest corridor grew by 3.7 percent. The report also notes that Trans-Canada traffic has outperformed the intermodal industry as a whole over the last few quarters and continues to grow strongly.
Overall, second quarter results were strong. Total transportation revenue was up 8.1 percent compared to the same period last year as intermodal revenue increased 12.3 percent while highway revenue took a slight dip of 0.3 percent. Although total loads were down from the second quarter of 2001, average revenue per intermodal load and average revenue per highway load both made positive gains, increasing 13.9 percent and 0.3 percent respectively. The report points out that although total loads were below 2001 levels, higher reported average intermodal rates yielded significantly higher total revenues compensating for the decline in volume.
Comparisons with first quarter 2002 also shows strong growth. Total loads increased 13.8 percent, with both intermodal loads and highway loads having double digit increases of 12.7 percent and 13.8 percent, respectively. Total transportation revenue also made double digit gains, increasing 10.7 percent as both intermodal revenue and highway revenue each increased 10.7 percent.
The report, "Intermodal Market Trends & Statistics" is produced quarterly and is available on a subscription and individual copy basis. IANA members can receive the report at a significantly reduced rate. For further information, or to order the report online, click here Report.