October intermodal volumes fell annually, according to data provided to LM by the Intermodal Association of North America (IANA).
Total October volume, at 1,616,956 units, decreased 2.0% annually, following respective 2.4% and 1.6% annual gains seen in September and August, respectively. Which was preceded by July’s 4.4% annual gain, which saw higher volumes due to the pulling-forward of goods being imported during the previous pause on the White House’s reciprocal tariffs.
Trailers, at 39,929, fell 25.0% annually, steeper than September’s 19.7% annual decrease. Domestic containers, at 815,243, rose 3.4%, and all domestic equipment, which is comprised of trailers and domestic containers, saw a 1.6% annual gain, to 855,352. ISO, or international containers, at 761,604 were off 5.7% annually.
Through the first 10 months of 2025, IANA reported that total volume, at 15,508,928, increased 3.1% compared to the same period a year ago. Trailers were down 21.3%, to 382,855, and domestic containers, at 7,262,358, increased 3.5% annually. All domestic equipment posted a 1.9% annual gain, to 7,645,213. ISO containers, at 7,863,715, posted a 4.3% annual increase.
October’s volume decline is in line with lower volumes seen, to date, in the fourth quarter, which Jeff Kauffman, Vertical Research Partners analyst, referred to as a “continued moderation in the [fourth quarter] freight economy,” adding that a primary weakness in the monthly Cass Freight Index, another key freight indicator was weaker intermodal shipments on lower international inbound shipments post pre-tariff shipping in July and August.
In what has been an eventful 2025, for freight transportation, intermodal sector market conditions are not an exception, for various reasons, including: ongoing economic uncertainty, driven largely by shifts in tariff levies and trade policies; shifts in import levels, due to pull-forward or front-loading of U.S.-bound imports; and a sluggish industrial economy and manufacturing outlook, although intermodal is more closely tied to consumer spending.
