Lockdowns impact domestic spot market freight volumes
Domestic freight on Canada’s spot market declined in January due to provincial lockdown measures, but inbound cross-border freight was on the rise.
Loadlink Technologies reports there was little change to spot market volumes in January, with 2020 trends continuing. Cross-border freight accounted for nearly three quarters of all load postings on Loadlink’s network. Year-over-year, total loads were down 13% in January.
Load volumes were steady through most of January, but the third week of the month saw volumes falling 5% compared to the rest of the month.
For the fourth straight month, outbound cross-border load volumes were down, 33% from December 2020 and 31% compared to last January. Meanwhile, equipment postings were up 22% from December.
Inbound cross-border load activity grew 29% from December and was down 5% year-over-year. Inbound cross-border freight was u 37% in Ontario and 34% in Quebec, Loadlink reported.
But domestic load volumes suffered. Ontario saw 24% less outbound domestic freight, and 28% less inbound freight. Quebec intra-Canada loads were down 20% for inbound volumes and 22% for outbound loads.
Capacity on the spot market increased by 8% in January, with 2.97 trucks per load, up from 2.75 in December. Capacity was 11% greater year-over-year.
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