OTTAWA, Ont. — The number of for-hire carriers remained roughly the same this year as last, according to a recent report from Statistics Canada.
There were an estimated 2,887 for-hire trucking companies based in Canada with annual revenues of $1 million or more in the first quarter of 2003. There were an estimated 2,889 carriers in the second quarter of 2002.
Operating revenues totaled $5.30 billion, up 5.4 per cent from the second quarter of 2002, and operating expenses reached $4.94 billion, up 6.0 per cent. This increase in expenses was mainly driven by higher miscellaneous expenses (+14.2 per cent), purchased transportation (+13.3 per cent) and payments to owner/operators (+9.3 per cent).
On a year-over-year basis, average operating revenues increased 5.2 per cent to $1.83 million, while average expenses climbed 6.2 per cent to $1.71 million. The operating ratio (operating expenses divided by operating revenues) was unchanged from the second quarter of 2002 at 0.93. Any ratio under 1.00 represents an operating profit.
For-hire trucking transportation revenues from international movements increased 6.2 per cent to $1.93 billion from $1.81 billion in the second quarter of 2002. Revenues from outbound movements were up 8.7 per cent and revenues from inbound movements increased 3.9 per cent.
For more information, or to enquire about the concepts, methods or data quality of this release, contact Denis Pilon (613-951-2707; fax: 613-951-0579; email@example.com), Transportation Division of Statistics Canada.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News