Rail Round-Up: November 2023 Freight Rail Traffic

NOVEMBER 2023 – All in all, total U.S. rail traffic for eleven months of 2023 was 22,509,965 carloads and intermodal units, a decrease of 3.1 percent compared to last year.?

• American railroads originated 1,128,573 carloads, virtually the same exact figure from November 2022.
• American railroads originated 1,279,906 containers and trailers (intermodal). This number reflects a 5 percent increase from November 2022.
• Combined U.S. carload and intermodal originations in November 2023 were 2,408,479 marking a 2.6 percent increase from November 2022.

Carloads of certain commodity categories enjoyed year-over-year increases from November 2022. Such reported commodities included:

• Petroleum: Up around 4,500 carloads
• Motor Vehicles (including parts): Up around 4,600 carloads
• Chemicals: Up around 8,300 carloads

On the other hand, certain commodity categories observed year-over-year declines. Such reported commodities included:

• ?Grain: Down around 6,300 carloads
• Crushed Stone, Sand and Gravel: Down around 8,000 carloads

Rail traffic data is courtesy of the Association of American Railroads.

November intermodal reflects import peak season

The 5 percent bump in November for U.S. intermodal continues an upward trend for the third straight year for the freight sector. The eleventh month of the year’s typically strong performances can be attributed to the tail end of peak season shipping of U.S. importers. While there wasn’t a drastic surge of inbound volumes this season, the steady gain in year-over-year growth for intermodal indicates that import volumes haven’t been completely anemic.

Going forward, railroad volumes will be subject to how the broader economy evolves in 2024. However, like many in the trucking realm, there exists optimism from rail stakeholders that healthy results from this year’s peak season will provide momentum for growth when the calendar flips over.

Stay tune for December’s Rail Round Up where we will recap the closing month of 2023’s freight rail activity!

For weekly updates on freight rail traffic, refer to Commerce Express Inc.'s weekly rail news!