October intermodal volumes trend down, reports IANA

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.