April marked the seventh straight month in which intermodal pricing has grown, but that momentum is expected to slow as the year goes on, according to data from the latest Cass Intermodal Freight Index.
Intermodal rates rose 2.7 percent in April 2017 compared to the same 2016 period, down slightly from a 4.8 percent year-over-year increase in March, according to the latest Cass Intermodal Price Index.
April marked the seventh month of consecutive increases, but the drop from March to April indicates that pricing momentum is slowing, according to Cass.
Intermodal rates have risen steadily since late 2016, with pricing up 0.4 percent year-over-year in October, 0.3 percent in November, 1.5 percent in December, 3.8 percent in January 2017, and 4.9 percent in February.
On a sequential basis, however, rates slipped 1.7 percent in April and 2.9 percent in February, according to the index.
Donald Broughton with Broughton Capital, who analyzes the data for Cass, said he expects intermodal rates to continue to show better strength in 2017 than was achieved in 2016 due to the recovery of the price of diesel fuel.
Intermodal rates rise for seven consecutive months
