Its both carload freight volumes and intermodal traffic that’s down. Via Logistics Management:
Weekly carload freight, which does not include intermodal data was 309,099 cars, down 9.1 percent from the same timeframe last year. And carload freight loadings were down 6.5 percent in the West and 12.8 percent in the East.
Intermodal loadings, which are not included in carload data, totaled 225,375 trailers or containers, down 7.9 percent compared to the same timeframe a year ago. Trailer volume was down 11.7 percent, and container volume decreased 6.9 percent.