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Benzinga
Benzinga
Business
Akanksha Bakshi

JB Hunt, BNSF Initiate Joint Efforts To Improve Intermodal Capacity Challenges

BNSF JB Hunt JBHT
  • JB Hunt Transport Services Inc (NASDAQ:JBHT) and BNSF Railway Company (BNSF) have come together to substantially improve capacity in the intermodal marketplace.
  • Demand for intermodal services has grown significantly in recent years as companies look to secure capacity while reducing costs and their carbon footprint.
  • Based on current and projected trends, JB Hunt plans to grow its intermodal fleet to 150,000 containers in the next three to five years, reflecting a 40+% increase from 2021-end.
  • BNSF will increase capability at multiple intermodal facilities as part of the initiative. In addition to growing its container count, J.B. Hunt will add supporting chassis based on market need.
  • Price Action: JBHT shares are trading higher by 6.56% at $212.03 on the last check Wednesday.
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