- JB Hunt Transport Services Inc 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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