(Source: Freight Waves, October 7, 2019)
CHATTANOOGA, Tenn. — Container volume growth on the East Coast of North America continues to outpace growth on the West Coast, despite longer ocean transit times and higher prices from Asia. But the eastern railroads are not necessarily the beneficiaries here. CSX has cut many intermodal lanes, reducing intermodal volumes by 8% year-to-date, which followed a similar drop the prior year – the largest drop of any Class 1 railroad. Norfolk Southern, on the other hand, moves the most intermodal freight as a percentage of total carloadings (55%), but has struggled to deliver operating ratio improvements as average intermodal rates fell from $1.78/mile to $1.47/mile this year (INTRM.USA).
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