This short article provides a brief overview of Intermodal volumes (SA/NSA). Contact crt@ftrintel.com with additional questions.
The intermodal volumes that are shown on pages 2 and 5 of the FTR Shippers Update report and are forecasted into the future are tied to the ETSO data provided by the Intermodal Association of North America (IANA). This data differs slightly from the intermodal carloadings provided on a weekly basis by the Association of American Railroads (AAR) but should be directionally the same over time. The IANA data is used because it allows for a higher level of visibility and granularity that is unable to be replicated by the AAR data. The volumes are shown on both a seasonally adjusted and non-seasonally adjusted basis. Non-seasonally adjusted is exactly what it sounds like: the raw volume result for a given period. The seasonally-adjusted figure takes into account the normal seasonal cyclicality of the market and allows the user to see how volumes are moving compared to where they should be at the particular point in the cycle they are viewing. Two good examples of when seasonal adjustments come into play would be the Chinese Lunar New Year period and the peak season that occurs at roughly the same time each year and has visible effects on loadings expectations.