TORONTO – TransCore Link Logistics’ Canadian spot market continued its upward trend with a significant 20% increase in daily freight availability in February compared to January.
Total truck volumes declined month–over-month, and average daily postings were relatively flat in February. The number of load postings on the last day of February were the highest Loadlink has recorded since July 2018.
Month-over-month, February’s load volumes finished 4% higher than January, although these numbers were down 35% year-over-year.
Intra-Canada loads accounted for 32% of the total volumes. Load postings within Canada increased 23% compared to January and were down just 4% year-over-year.
Cross-border load postings represented 67% of the data submitted by Loadlink users.
There was a slight decline in cross-border load postings in February, mainly due to fewer loads entering Ontario and Quebec from the United States.
Loads leaving Canada to the U.S. increased 21%, while loads entering Canada from the U.S. dropped 12%. Loads from the U.S. entering Ontario decreased 16%, while loads entering Quebec decreased 22%. Overall, cross-border load postings on Loadlink decreased 3% from January. This suggests the overall 4% increase in load postings was due to the significant increase in intra-Canadian activity.
February equipment numbers saw a 12% dip due to the shortened month; however, the daily average number of truck postings increased by one percentage point. Compared to February 2018, equipment volumes were up 65% year-over-year.
This disparity in growth between load and truck availability pushed capacity downwards by 16% from 2.54 to 2.14. Year-over-year, the average ratio increased 153% from 0.85 in February 2018.