TORONTO, Ont. – Loadlink Technologies has reported overall spot market load volumes increased 2% in October, with load postings up 18% year-over-year.
Freight volumes were similar to pre-pandemic levels recorded in the first quarter of this year, with volumes growing each month since April. Volumes saw an uptick at the end of the month.
Highlights included decent volumes at the end of the third quarter, followed by a 6% dip at the beginning of October, attributed to the Thanksgiving holiday. New Covid-19 cases are on the rise, particularly in Ontario and Quebec, altering usual freight flows in and out of those hardest hit regions. Loadlink reported an average of 15% less freight on the busy Ontario-Quebec corridor. Intra-provincial freight within Ontario and Quebec was down 3% and 9%, respectively.
Southbound loads to the U.S. were down 7%, with Ontario and Western Canada seeing a sharp 15% decline, while Quebec and Atlantic Canada saw a 13% increase in southbound loads.
Cross-border loads into Canada were up 8% overall, with Western Canada seeing a 15% rise, Quebec 8%, and Ontario up 6%.
Within Canada, loads were up 5% while equipment postings rose just 3%. Domestic loads were up 14% compared to last October, with Western Canada seeing a 30% increase in loads originating there and 16% arriving. Ontario saw a 13% increase in loads originating from the province, but had a 12% decline in loads coming in. Quebec, on the other hand, had 39% fewer outbound loads, while inbound loads increased 38%.
Capacity increased by 1% in October, with 3.28 trucks posted for every load, up from 3.24 trucks per load in September. October truck volumes hit an annual high, but the truck-to-load ratio was 20% lower compared to the 4.11 ratio last October.
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