North American intermodal stays strong on truck-to-rail conversion

Summary

North American intermodal demand stayed strong in mid-July, with CSX reporting intermodal volume up 9% (citing truck-to-rail conversion), Norfolk Southern's intermodal revenue up 22% on 5% higher volume, and Union Pacific domestic intermodal up about 19%. The gains reflect tightening truck capacity pushing freight onto rail for lanes beyond roughly 700 miles.