OTTAWA, Ont. — According to Statistics Canada’s latest numbers, there were an estimated 2,860 for-hire Canadian trucking companies in the million-dollar club in the fourth quarter of 2001.
That’s up from about 2,700 carriers in the fourth quarter of 2000.
Operating revenues advanced 3.6 per cent to $5.15 billion and operating expenses increased 3.2 per cent to almost $4.78 billion in the fourth quarter of 2000.
Both average operating revenues and expenses fell a slight two points in the fourth quarter compared with the same time in 2000. Average expenses were at $1.67 million compared with $1.71 million in the same period in 2000. The decline was driven by lower salaries and wages combined with lower fuel cost and purchased transportation.
However, average costs per carrier were about five per cent higher for depreciation and other expenses — including a seven per cent jump in insurance and freight claim costs.
The operating ratio (operating expenses divided by operating revenues) remained at 0.93.
Following the events of Sept. 11 and the resulting border crossing slowdown, for-hire trucking transportation revenues from international movements declined almost 11 per cent to $1.59 billion from $1.78 billion one year ago. Revenues from inbound movements were down four per cent while revenues from outbound movements dropped 18 per cent.
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