July intermodal volumes posted another month of strong annual gains, according to data provided to LM by the Intermodal Association of North America (IANA).
Total July volume, at 1,680,569 units, posted a 5.3% annual gain, trailing June’s 11.6% increase and topping May’s 4.4% increase.
Trailers, at 41,576, headed up 6.4% annually, and domestic containers, at 814,855, posted a 12.3% annual gain. All domestic equipment, which is comprised of trailers and domestic containers, at 856,431, rose 12.0% annually. ISO, or international, containers, at 824,138, fell 0.9%.
Through the first seven months of 2026, IANA reported that total volume, at 11,045,747, increased 2.9% annually. Domestic containers, at 5,354,977, were up 8.2% annually, and trailers, at 274,848, saw a 3.3% annual gain. All domestic equipment, at 5,629,825, was up 7.9%. ISO containers were the lone sector to see a decline, at 5,415,922, for a 1.8% annual decrease.
In IANA’s recently-issued Intermodal Volume Index (IVI), the organization’s findings pointed to annual growth remaining intact.
The North America IVI made its debut in May, with IANA describing it as a measure of industry activity that provides a “most likely” estimate of current market conditions.
The August IVI estimate, at 101.3, trailed July by 2.8% and was also behind June’s 107.7. In explaining the IVI’s methodology, IANA said that the IVI “gauges what is happening right now—before the official monthly figures are published.” And it added that it translates a high-frequency freight activity onto the same scale as the published index, giving shippers, carriers and analysts an early snapshot of current-month demand.
“The August estimate, though down, reads as a continuation of the strength that we’ve seen for much of the 2026,” said Andrew Sibold, Director of Economics. “Although this month’s forecast carries a bit more uncertainty, we’re seeing no reason for any near-term reversal of the positive trend we’ve seen this year.”
Intermodal has been strong throughout 2026, aided by high energy prices related to the respective conflicts in Iran and Ukraine, as well as various federal government measures and initiatives, largely focused on driver CDL requirements in various forms, which have, in turn reduced driver capacity.
IANA’s Sibold recently told LM that while higher energy prices have served as a driver for some shippers in switching to intermodal—with the caveat that there are other factors at play, too.
“Diesel prices are a factor, but the labor supply shortage that is happening in trucking has been the primary driver of that shift, I think,” he said. “And I expect that to continue in the future, especially during this administration. There is no reason that will change over the next two-to-three years, with the same going for diesel prices. Even if there is a durable ceasefire, it is likely that diesel prices will remain elevated just because that risk now that needs to be factored in.”
As trucking capacity has exited the market, due in large part to a supply-side contraction, that led to shippers figuring out where that capacity is going to be coming from, in order to meet their needs, according to Rick LaGore, CEO InTek Intermodal Logistics. He also noted shippers need to pay close attention to future capacity shifts, for both intermodal and trucking, should demand return in a meaningful way.
“Shippers need to be paying attention to these dynamics earlier than later and plan for them,” said LaGore. “It definitely falls into a plan for the worst and hope for the best-type of situation. Intermodal currently presents a great opportunity for shippers to find capacity, particularly in tight-capacity markets that exist today. There are really some green shoots in intermodal today, which go back to what is happening on the truckload side, where we are seeing significant price increases as well as capacity issues. The natural place for shippers to go, if that is what they are seeing, is for them to transition more of their freight over to intermodal.”
