Canadian spot market freight volumes show continued strength
TORONTO, Ont. — TransCore Link Logistics’ Canadian freight volumes rose 2% in May, marking a 31% improvement year-over-year.
The TransCore Canadian Freight Index measures volumes from about 5,000 Canadian trucking companies.
In May, cross-border postings accounted for 69% of total load volumes. Cross-border loads originating in Canada rose 70% year-over-year while loads originating in the US were up 10% over last May.
The top five states for loads destined for Canada included: Ohio, Texas, California, Illinois and Pennsylvania.
TransCore reported intra-Canada load volumes comprised 25% of total May volumes, and were up 34% compared to last May.
The index showed continued tight capacity, with truck levels remaining low relative to the same period last year. Equipment postings were up 4% month-over-month, but were down 10% compared to last May.
The equipment-to-load ratio increased slightly to 1.49 from 1.46 in April. However, year-over-year, May’s ratio still demonstrates a 46% improvement, TransCore reports.
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The spot rates are at the point that trucks that have been moth balled for the last # of years are going back on the road. Trucking companies and brokers are willing to help former owner-ops get back into trucks. Some companies are now paying $.48 cents per mile for company drivers or $1.26 per mile plus insurance and $.42 fuel surcharge or 80% to the tractor on $2.20 freight. Many of the large trucking companies are giving loads to smaller trucking with very small commissions like in 2006 and 2007.