Topic: Rail & Intermodal

In a wide-ranging presentation at the RailTrends conference in New York last week, Adriene Bailey, partner and head of the North American Rail Team at Oliver Wyman, offered up detailed insight and analysis on various topics impacting the North American freight railroad market.

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.

Rail carloads, at 224,651, were up 0.1% annually, and intermodal containers and trailers, at 268,842 units, were off 8.7% annually.

Rail carloads, at 227,209, were down 0.7% annually, and intermodal containers and trailers, at 269,719 units, fell 6.4% annually.

Late last week, a bipartisan Senate duo—John Hoeven (R-N.D.) and Amy Klobuchar (D-Minn.)—penned a letter to leadership at the Surface Transportation Board (STB), including STB Chairman Patrick Fuchs, Vice Chair Michelle Schultz and Member Karen Hedlund, in which they stated they plan to “closely scrutinize” the proposed Class I railroad merger between Union Pacific and Norfolk Southern, with a focus on being able to demonstrate long-term competition in the freight rail sector, with clear and tangible improvements.

With expedited review underway, businesses brace for possible refunds, new trade measures, and prolonged market volatility.

As rail and intermodal rebound from years of underinvestment, new technology and AI-driven analytics are helping to modernize networks, improve service levels, and restore shipper confidence. With visibility, safety, and fluidity on the rise, industry leaders say rail’s digital transformation is finally catching up—setting the stage for a new era of intelligent, data-driven logistics.

Rail carloads, at 226,748, fell 0.9% annually, and intermodal containers and trailers, at 272,940 units, were off 6.1% annually.

The United States and China appear to have found at least some common ground on a few different issues, during this week’s meeting between President Donald Trump and President of the People’s Republic of China Xi Jinping, at the APEC meeting in South Korea.

In this podcast, LM Group News Editor Jeff Berman interviewed Susan Spence, Chair of the Institute for Supply Management's (ISM) Manufacturing Business Survey Committee.

The Federal Reserve said yesterday that it lowered the target rate, for the federal funds rate, which comes from its Federal Open Market Committee (FOMC) for the second consecutive month, dropping it by 0.25%, to 3.75%-to-4.0%, its lowest rate level since 2022.

The company announced that Kevin Boone has been named executive vice president and chief financial officer, and Maryclare Kenney has been promoted to senior vice president and chief commercial officer.

Quarterly consolidated revenue, at $21.4 billion, fell 3.7% annually, and basic earnings per share, at $1.74 (topped Wall Street estimates of $1.29), fell $0.24, or 13.4%, annually. Total operating profit, at $1.8 billion, was off 9.1% annually. 

Total September volume, at 1,550,599 units, rose 2.4% annually, ahead of the 1.6% annual gain seen in August and below 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.

Rail carloads, at 224,244, eked out a 0.3% annual increase, and intermodal containers and trailers, at 273,610 units, fell 4.8% annually.

Any signs of progress being made on the trade front between the United States and its second-largest trade partner, Canada, appear to be squelched, based on a social media post issued by President Trump last night.

In expressing their collective concern regarding the proposed Class I freight railroad carrier merger between Union Pacific and Norfolk Southern, a letter sent to President Trump from the American Chemistry Council (ACC), on behalf of 40 member-company chemical manufacturing CEOs, explained that should this deal come to fruition, it could have negative effects on United States manufacturing in various ways.

Rail carloads, at 224,562, increased 1.2% annually, and intermodal containers and trailers, at 273,900 units, fell 3.3% annually.

The September reading, at 57.4 (a reading above 50 indicates growth is occurring), trailed August’s 59.3 by 1.9%, coming in at its lowest level since March and its second-lowest this year—and it is the seventh consecutive month the LMI reading has been below the all-time overall average of 61.5.

In this podcast, LM Group News Editor Jeff Berman interviews Association of American Railroads (AAR) President and CEO Ian Jefferies.