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A roundup of the week’s most-read rail — intermodal, Class I service, ports, and the bottlenecks in between.
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FreightWaves Rail · Oct 8, 2026 |
Sub: Class I & Regulatory |
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| Brought to you by |
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Rail data isn’t the problem. Acting on it is. Hear IntelliTrans SVP Matt Everson break down what bulk shippers are missing.
Get the insights → |
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| Bulletin Orders |
FWRX · No. 10·08 |
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From the desk of Stuart Chirls · Railroads · FreightWaves & Trains.com
Intermodal specialist Hub Group’s depressed valuation has raised the possibility of a takeover … but J Capital Research sees significant obstacles to a deal, including founding Yeager family’s 62% voting control as a barrier to an outside acquisition … added uncertainty surrounding Hub’s accounts could complicate financing for a family-led take-private … Stifel recently upgraded shares to Hold from Sell on better risk/reward balance rather than a takeover outlook …
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| Featured · Class I · Regulatory |
◆ Class I · Regulatory · Chemicals
FreightWaves Rail · Oct 6, 2026
Shintech, the largest U.S. producer of polyvinyl chloride, told the STB it supports the Union Pacific-Norfolk Southern merger, saying single-line service to eastern destinations would increase speed, reduce costs and enhance competition for a company whose rail traffic from three Louisiana and Texas plants moves entirely on UP.
| Signal |
A major shipper breaking ranks with chemical trade associations that oppose the deal gives UP a notable customer endorsement, even as short-line advocates warn of concentrated market power. |
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Read the full bulletin → |
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◆ Class I · Regulatory
FreightWaves Rail · Oct 7, 2026
Union Pacific CEO Jim Vena told Fox Business he is 99.99% confident the STB will approve the $85 billion Norfolk Southern acquisition, arguing that eliminating 24 to 48 hours of interchange delay would make rail more competitive with trucking, even as unions, agricultural groups and rival railroads oppose the deal.
| Caution |
Vena’s public confidence contrasts with a broad opposition coalition, and with a final STB decision not expected until 2027 the outcome remains genuinely contested. |
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Read the full bulletin → |
◆ Volumes · Carloads
FreightWaves Rail · Sept 30, 2026
AAR reported 537,397 carloads and intermodal units for the week ending Sept. 26, up 4.85% year over year, with carloads of 235,787 up 3% and intermodal at 301,610 containers and trailers up 6.3%; seven of ten commodity groups gained, led by metallic ores and metals, petroleum and chemicals.
| Signal |
Cumulative 2026 volume is running 2.7% ahead in carloads and 4.1% ahead in intermodal through 38 weeks, showing industrial demand holding up heading into Q4. |
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Read the full bulletin → |
◆ Safety · Security
FreightWaves Rail · Oct 7, 2026
LAPD detectives executing a Sept. 30 search warrant at a Whittier retailer recovered about $1 million in stolen merchandise from BNSF and Union Pacific shipments, including 59 pallets of footwear, drinkware, backpacks and vacuums, and arrested the owner on suspicion of receiving stolen property.
| Caution |
A multi-agency recovery shows rail cargo theft is being traced to the resale end, but how the freight left railroad control remains unexplained and the investigation continues. |
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Read the full bulletin → |
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Reading the Rails
Powered by  · Intermodal Dashboard
The week’s total U.S. rail carload volumes, pulled straight from SONAR’s Intermodal Dashboard.
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Total Carloads
230,711
▼ -2.15% w/w
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12-Mo. Average
225,835
▲ +2.2% above avg
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vs. 2025
188,673
▲ +22.3% above 2025
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vs. 2024
183,990
▲ +25.4% above 2024
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● SONAR · Total U.S. Carloads, 12-Month Trend — RTOTC.USA
Weekly total carloads slipped to 230,711 this week, down 5,076 cars (-2.15%) from last week’s 235,787, but still about 2.2% above the 12-month average of 225,835.
● SONAR · Total U.S. Carloads, Year-over-Year Comparison — RTOTC.USA (2023–2026)
Layered against the past three years, 2026’s carload volumes remain well ahead of the comparable year-end points in 2025 (188,673) and 2024 (183,990) — up roughly 22% and 25% respectively; the 2023 comparison line was again too overlapped with the others to read confidently.
| Signal |
A modest pullback from last week’s stronger reading still leaves carloads comfortably above the annual average, suggesting a normal breather rather than a change in trend. |
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Powered by · Intermodal Dashboard
See the whole rail picture in SONAR
Every figure above is live in SONAR’s Intermodal Dashboard — carloads, container volumes and year-over-year moves, refreshed daily across every mode.
Explore the Intermodal Dashboard → |
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October 27 – 28, 2026 · The Signal, Chattanooga
F3: Future of Freight Festival
FreightWaves’ flagship event blends rapid-fire tech demos and world-class speakers with the most legendary networking in logistics. Join 1,000+ freight and logistics experts, industry leaders, entrepreneurs and innovators for a definitive look at the year ahead. Come for the insights, stay for the celebration and leave with the connections that will define your 2027.
Register Now → |
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