Canadian Spot Freight Volumes Decline Again
TORONTO, ON – A measure of Canada’s spot freight market fell for the second consecutive month in November, according the latest reading of the TransCore Link Logistics Canadian Freight Index.
The eight percent decline from October follows a traditional drop this time of the year and is down 28 percent year-over-year after historic highs were set throughout 2014.
Cross-border loads leaving Canada decreased 12 percent, and loads coming into Canada declined 39 percent year-over-year. These volumes averaged 69 percent of the total data submitted by Loadlink’s Canadian-based customers.
Inbound cross border trucks increased 47 percent and outbound equipment availability increased 35 percent.
Of the cross-border loads coming into Canada, 61 percent were destined for Ontario, 19 percent for Quebec, 18 percent for the Western Provinces and two percent for the Atlantic provinces.
Intra-Canada load volumes represented 27 percent of the total spot freight volume and fell 22 percent year-over-year. Of these, 39 percent were destined for the Western Provinces, 37 percent for Ontario, 20 percent for Quebec and four percent for the Atlantic Provinces.
Overall equipment capacity fell slightly in November, down three percent month-over-month, but was up annually by 38 percent.
The equipment-to-load ratio increased to 3.84 from 3.67 in October. This represents a 91 percent increase, year-over-year, compared to November 2014 when the ratio was at 2.01.
TransCore’s Canadian Freight Index measures trends from roughly 5,500 of Canada’s trucking companies and freight brokers, and includes all domestic, cross-border and interstate data submitted by Loadlink’s customers.
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