TORONTO, Ont. – TransCore Link Logistics has reported spot market load volumes increased 5% in May, but were still 42% off May 2019 volumes.
With the overall uptick in load performance, “Carriers that performed better than this in May, are ahead of the market,” said Claudia Milicevic, senior director and general manager of Loadlink Technologies.
May’s increase in load volumes confirms TransCore’s theory that April represented the floor for freight during the Covid-19 pandemic. As the North American economy reopens, freight should improve, and early June numbers are confirming this. Volumes for the first two weeks of June were up 9% compared to the last two weeks of May.
The Vancouver-Toronto lane saw load volumes increase 332% in the first 10 days of June.
The biggest gainers in May were cross-border lanes, with Quebec and Alberta benefiting in particular.
The truck-to-load ratio reflected tightening capacity, down 7% to 5.27 trucks per load from 5.64 in April. But the truck-to-load ratio was 47% higher year-over-year, with 3.57 trucks per load in May 2019. TransCore says early data from June shows the ratio has fallen another 23%, to 4.05.
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