Canadian Freight Index shows best July on record

TORONTO, Ont. — July was a month of ups and downs when it came to freight load volumes.

According to TransCore Link Logistics’ Canadian Freight Index, spot load volumes were 12% lower in July than they were in June—a drop which TransCore describes as a “traditional summer decline.”

TransCore Canadian Spot Market Index 2007-2014
TransCore Canadian Spot Market Index 2007-2014

When compared with data from July 2013, however, load volumes actually increased, as TransCore pegs this year’s figure at 25% higher than last year’s. In fact, last month’s volumes were the highest the Index ever recorded in the month of July.

Looking deeper into the numbers, cross-border load volumes accounted for 69% of July’s total volume. Loads entering Canada increased 18% and loads leaving the country for the US were 37% higher than comparable figures from July 2013. The breakdown for cross-border load destinations is as follows:

  • Ontario 57%
  • Western Canada 23%
  • Quebec 17%
  • Atlantic Canada 3%

Intra-Canada load volumes accounted for 25% of the month’s total load volumes, and were 30% higher than July 2013’s. Most loads (42%) originated in Western Canada, followed by 33% originating in Ontario, 17% in Quebec and 8% in Atlantic Canada. The majority (40%) of intra-Canada loads had Western Canada destinations, followed by Ontario (32%), Quebec (25%) and Atlantic Canada 3%).

TransCore Canadian Spot Market Truck Index 2007-2014
TransCore Canadian Spot Market Truck Index 2007-2014

Truck and equipment levels also demonstrated both ups and down. Equipment postings were 13% higher in July than they were in June, however they were 10% lower when compared year-over-year. The equipment-to-load ratio increased to 1.89 from June’s 1.47, but decreased from 2.62 in July 2013. This demonstrates a 39 percent improvement year-over-year.

Equipment coming into Canada was headed to:

  • Ontario 50%
  • Western Canada 26%
  • Quebec 21%
  • Atlantic Canada 3%

Dry vans made up 52% of the total equipment postings. Reefers were the next more common with 23% of the postings, followed by flatbeds with 18%. The remaining 7% were other types of equipment.

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.

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