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Intermodal volumes fall just short of annual growth in April, reports IANA

By Jeff Berman · May 21, 2026

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April intermodal volumes saw a very slight annual decline, according to data provided to LM by the Intermodal Association of North America (IANA).

Total April volume, at 1,568,662 units, fell 0.6% annually, coming in below March’s 1,606,602 units, which was 2.3% below February’s 2.7% annual gain, and January’s 5.9% increase. September and August were up 2.4% and 1.6%, respectively, which were 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.

As was the case in March, ISO, or international, containers were the lone segment to see an annual decline in April, down 6.4% annually, to 762,874. Trailers, at 38,085, increased 1.9% annually, and domestic containers, at 767,703, rose 8.6% annually. And all domestic equipment, which is comprised of trailers and domestic containers, at 805,788, posted an 8.2% annual gain.

Through the first four months of 2026, IANA reported that total volume, at 6,106,740 units, is off 0.1% annually. Domestic containers, at 2,957,463, are up 5.1% annually, and trailers, at 152,139, are down 2.1% annually. All domestic equipment, at 3,109,602, are up 4.8% annually. ISO containers fell 4.7%, to 2,997,138.

Earlier this month, the IANA issued its inaugural North America Intermodal Volume Index (IVI), which it described as a measure of industry activity that provides a “most likely” estimate of current market conditions.

The April IVI reading was projected to come in at 103.1, which it said was below March’s 104.0, (the most recent month for which ETSO numbers are available, which was up 2.3% annually), while topping the 2017-to-2019 average, of 100.

What’s more, IANA observed that three consecutive months above the baseline suggests the same in June, which would translate into a full second quarter of growth if current economic conditions hold. And it added that the IVI pegs May to come in at 106.2. The March result of 104.0 (the most recent month for which ETSO numbers are available) was up 2.3 percent year-over-year.

“The April IVI is on par with what we would expect as later spring volumes pick up,” said Andrew Sibold, IANA’s Director of Economics. “We are excited to unveil this monthly ‘pulse check’ on the health of North American intermodal freight which, in a single number, indicates whether the market is expanding, flat or contracting relative to its underlying trend.”

In a previous interview with LM, Sibold, IANA Director said that, in regards to the potential trajectory of 2026 intermodal volumes, he estimated that total volumes could be up around 1.25% annually.

At the outset of the year, he said the biggest wildcard was tariffs, with a fair amount being overturned by the United States Supreme Court in February, but subsequently re-implemented through a different method by the White House.

“I do think freight will continue to grow, just due to the pickup in industrial activity, but that is somewhat fragile and subject to various headwinds and tailwinds, too,” said Sibold.

As for the possibility of intermodal gaining market share from trucking, as trucking is seeing some attrition in capacity related to federal government actions regarding non-domiciled CDL holders, Sibold said that there is an opportunity for some share shift in 2026.

The reason for that, he said, is that trucking continues to face headwinds, with rates still low, as well as the U.S.-Iran situation significantly driving-up fuel prices.

“There are some variables at play, and some of them have a lot of upside potential for intermodal,” he said. “If there is any type of uptick in demand or consumption, I think intermodal is pretty well-positioned to handle whatever volume spikes are coming its way.”

As for the current impact of the Iran conflict in intermodal performance, he explained that the situation requires a watchful eye, as capacity and demand tighten in trucking, intermodal stands to increase its overall share.

“The only potential hiccup would be if the shift to intermodal were to swamp capacity, but this is unlikely in the near term, since all of our efficiency metrics show the network operating very efficiently,” he said.

Article Topics

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Logistics

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Transportation

Rail & Intermodal

All Domestic Equipment

Containers

Domestic Containers

IANA

Intermodal Association of North America

ISO Containers

Trailers

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About the Author

Jeff Berman
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review and is a contributor to Robotics 24/7. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis.
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