Canada’s spot market continues record-setting load growth

by Today's Trucking

Canada’s spot market continues to offer an abundance of loads, “with no signs of slowing down any time soon,” according to Loadlink Technologies.

February volumes were up 171% year over year, and even beat January’s record highs by 21%.

Truck capacity tightened, with a truck-to-load ratio of 0.63, a 76% decline from last February’s 2.61 trucks per load. Single-day load volumes reached an all-time high in February, Loadlink reported, noting there was a heavy strain on inbound capacity.

Graph showing spot market load and equipment postings

“While available capacity shrank across the board, the decline in cross-border equipment this month was much sharper than the typical drop usually experienced in February,” said Claudia Milicevic, president of Loadlink Technologies. “We have never seen a decline of over 40% year over year. The various border blockades had a significant impact on truck postings across the country, creating ripple effects across the market.”

Loads posted from Canada to the U.S. soared 271% year over year, with equipment postings down 45%. Inbound cross-border loads were up 158% from last February, with equipment postings down 40%. And domestic loads climbed 140% year over year with equipment postings down 22%.

The 0.63 trucks per load ratio was down 32% from 0.93 in January.

Loadlink spot market infographic

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