TORONTO, Ont. — This year is shaping up to a be an impressive one, according to TransCore Link Logistics, as load volumes in March were the highest ever recorded since 2014.
According to the data, volumes were up 33% month-over-month and 51% year-over-year. The increase in load volumes were all-encompassing and reflected cross-border loads (both inbound and outbound) as well as inter-Canadian freight.
Intra-Canada loads represented 27% of the total volumes and jumped 50% from the same period last year.
Cross-border load postings averaged 71% of the total data submitted by Loadlink’s Canadian-based customers and was higher compared to last year; loads leaving Canada increased 30% and loads coming into Canada climbed 69% year-over-year.
Even though equipment capacity rose 11 % month-over-month, this increased availability was probably undetected by freight brokers due to the increase in their load postings. Despite this increase, for the first time in over two years, the truck-to-load ratio fell to under two trucks for every available load to 1.78 from 2.11 in February. Compared to last year, the truck-to-load ratio improved 42 percent; in March 2016, this ratio was 3.05, TransCore said. This increase in loads and capacity in March is encouraging news for brokers, and especially for carriers coming into the industry as there is more available work to be found and brokers are able to better fulfill shipping requirements with their customers.