Intermodal Hits All-Time Highs as Truckload Stays Tight

The useful part

Future of Freight Festival, October 27 & 28th Register Now × Intermodal hits all-time highs while truckload rejection rates hold near 14% — and that matters for every carrier and broker watching Q4. In this FreightWaves market update, we break down tender rejections, dry van/reefer/flatbed spot rates, the early-October volume drop and why domestic intermodal keeps taking share. The key question: is capacity still tight, or are fuel costs masking what's really happening in truckload?

How it works

• The intermodal surge matters for carriers, brokers, and shippers because it signals that freight is actively shifting modes.
• Flatbed and refrigerated rejection rates are both edging higher, while dry van has shown a modest seasonal dip.
• Strickland cautioned against reading the rate increases as a pure signal of capacity tightening, given how heavily diesel inflation is influencing the numbers.
• Domestic intermodal volumes hit all-time highs with 8% year-over-year growth, raising questions about rail network capacity limits.
• October 26, 2026 The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now Awards F3 Awards Dinner The night before F3.

What to take from it

Upcoming FreightWaves Events Compliance Brokerage Compliance Symposium The day before F3. "I know a lot of this freight is going intermodal at this point too," said Strickland. Refrigerated freight is being supported by active harvest season demand that Strickland said typically persists through January during winter weather events.

Example or evidence

• Smaller fleets with heavy spot-market exposure are absorbing those costs when the market does not allow for full fuel cost pass-through, resulting in margin compression.
• Strickland said it is too early to declare that rates have peaked, given continued supply-demand imbalances and persistent diesel cost pressure.
• Truckload tender rejection rates are holding near 14% with unusual stickiness heading into the traditionally soft first two weeks of October.
• Rising diesel costs are inflating spot rates across all modes, compressing margins for smaller fleets with heavy spot-market exposure.

Details worth keeping

Intermodal Hits All-Time Highs as Truckload Stays Tight. FreightWaves Promo Code: FALLFORF3 Limited Quantity Available. #Truckload #Intermodal #FreightMarketUpdate Domestic intermodal container volumes have reached all-time highs, posting 8% year-over-year growth on top of consistent multi-year gains, even as the truckload market defies its typical early-October lull with tender rejection rates holding stubbornly near 14%.

Related coverage

• Freightwaves: North American rail traffic is booming, with intermodal volumes hitting record highs.
• Logisticsmgmt: Rail carloads, at 240,021, posted a 2.2% annual gain. Intermodal containers and trailers, at 303,191 units, saw a 5.7% annual increase.
• Freightwaves: Short-haul freight is up 35% year to date, and that shift is changing the truckload market.