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May 26, 2014

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Page 58 of 99 THE JOURNAL OF COMMERCE 57 TOP 100 IMPORTERS AND EXPORTERS remain driven by the direction of truckload pricing, as the fl oor for truckload rates is typically the ceiling for intermodal pric- ing," Wolfe Research said. "So with rising TL pricing, we would expect to hear about a re-acceleration in intermodal pricing in next quarter's survey." The sharp deterioration in intermodal services cost the railroads volume in the fi rst quarter, according to the survey. Shippers said they diverted 2.9 percent of their volume from truck to rail in the same period, compared with a 3.4 percent conver- sion in the fourth quarter. Conversely, shippers moved 2.3 percent of their intermodal volume back to the high- way in the fi rst quarter, a steady uptick from the 1.1 percent shift in the last three months of 2013. Ultimately, the pace of intermodal conversion slowed to 0.6 percent in the fi rst three months of this year, after hitting 2.3 percent in the fourth quarter. That was the slowest rate of intermodal conversion among sur- veyed shippers in four years, Wolfe Research said. JOC Contact Mark Szakonyi at and follow him on Twitter: @szakonyi_joc. Cis4221_ARRC-AD_124mm X 178mm_p_2014-05-15.indd 1 2014-05-15 10:44:36 AM

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