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Intermodal freight savings hit a multi-year high as truckload rises
FreightWaves SONAR data shows one top lane, Harrisburg to Atlanta, with truckload up about 42% versus intermodal up 16%, supported by a widening price gap.
Intermodal freight savings have surged to their highest level in several years, as a widening spread between higher truckload rates and relatively flat intermodal pricing makes switching modes more attractive, FreightWaves reports, citing SONAR data presented by Julie Van de Kamp during a live update.
On the Harrisburg, Pennsylvania, to Atlanta lane, one of the biggest savings routes in the SONAR intermodal dashboard, van spot truckload rates are up about 42%, van contract rates are up about 26%, while intermodal rates have risen roughly 16%. The East Coast corridors, particularly lanes out of Atlanta and Harrisburg, are leading the savings rankings, with multiple routes trending upward in the three-month savings index.
The broader freight market context also supports the shift, with tender rejections falling significantly from July 20 to August 5 before stabilizing, and spot rates leveling off after being down from earlier year to date peaks. FreightWaves also notes contract truckload rates continue to rise, narrowing the gap between spot and contract.
Van de Kamp pointed to a roughly 66-cent-per-mile spread between spot rates on the NTI and contract rates on the VCRPM1, while cautioning that spot rates are all-in, whereas contract rates reflect linehaul only, with fuel surcharges running about $0.70 per mile based on a Department of Energy estimate near $45. Intermodal volumes are rising too, according to the SONAR dashboard's volume trends on key lanes.