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.
“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.
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