TORONTO, Ont. – TransCore Link Logistics Freight Index for Canadian and cross-border loads fell slightly in December, however TransCore says a favourable dip in equipment volumes led to the tightening of the truck-to-load ratio.
Freight volumes were tumultuous, TransCore said regarding the last 12 months. There were lows very close to those seen in 2009’s economic downturn, while at the same time, truck volumes also showed an all-time high in 2015.
Year-over-year, December 2015 volumes decreased 36% when compared to December 2014. The first quarter of 2015 was positive, followed by a steep decline in the summer months and closing out the year at the lowest point.
Equipment capacity went up by 44% year-over-year.
When comparing 2015’s fourth quarter with 2014’s fourth quarter, load volumes were down 31%, while capacity was up 35% in the fourth quarter over of 2015 over the first quarter of 2015.
Looking at numbers from November 2015 to December 2015, there was a slight dip of 2% in load volumes – an expected seasonal norm for the month given there are two fewer shipping days to observe Christmas and Boxing Day.
TransCore added that many factors impacted the Canadian trucking industry for 2015 including:
- The weakening Canadian dollar throughout 2015
- Oil prices reaching the lowest levels since 2003
- The decline in commodity prices
In addition, it noted for the last three months of 2015, the Western Region showed notable increases in load volumes along with decreases in truck volumes.