Back to October 2026 Industry Update
October 2026 Industry Update: Intermodal
FreightWaves SONAR Intermodal Rates Index (INTRM.USA)
Key Points
- Intermodal spot rates, which represent a small share of intermodal freight, spiked $0.11 MoM in September, rising from $1.81 in August to $1.92, and are $0.48 higher YoY.
- These rates include fuel, so it is difficult to determine how much is demand-driven; however, even with fuel included, the savings compared to truckload still overwhelmingly favor rail.
FreightWaves SONAR Initially Reported Average Contract Base RPM (IMCRPM1.USA)
Key Points
- Initially reported intermodal contract rates softened in the back half of September after surging in August as peak container shipping season neared an end, dropping $0.21 MoM and registering $0.03 lower YoY compared to levels at the end of September 2025.
Surface Transportation Board (STB) Weekly Average U.S. Rail Carload Volumes
Key Points
- Total rail carload volume originations continued to climb in September, up 2.2% YoY and marking the ninth consecutive month of annual increases, driven by growth in 17 of the 20 major carload categories, the most in five years.
Surface Transportation Board (STB) Weekly Average U.S. Rail Intermodal Volumes
Key Points
- U.S. railroads originated roughly 300,000 intermodal containers and trailers per week in September, down slightly from August’s record high despite the Labor Day holiday and 6.6% higher YoY compared to September 2025 levels.