OTTAWA, Ont. — Canadian for-hire carriers with annual revenues of $1 million or more appear to be on the decrease, according to the latest numbers from Statistics Canada.
An estimated 2,736 Canadian for-hire carriers made annual revenues of $1 million or more in the fourth quarter 2003, down from 2,855 carriers in the fourth quarter 2002, reports the agency.
Operating revenues totalled $5.31 billion and operating expenses reached $4.99 billion, up 3.1 per cent and 3.3 per cent respectively from the fourth quarter of 2002.
Both average operating revenues and expenses were up, 7.2 per cent for revenues and 7.7 per cent for expenses, in the fourth quarter compared with the same quarter of 2002. Average expenses were at $1.82 million compared with $1.69 million in the same period in 2002. The increase in expenses was driven by higher purchased transportation and other expenses combined with smaller increases in salaries and wages, as well as payments to owners and operators.
However, average costs per carrier were lower for depreciation (-16.6 per cent) and fuel (-4.5 per cent.
The operating ratio (operating expenses divided by operating revenues) was unchanged at 0.94 per cent.
For-hire trucking transportation revenues from domestic movements increased by 13.2 per cent to $3.44 billion from $3.04 billion one year ago. Revenues from international movements on the opposite were down by 13.2 per cent, with inbound movements down by almost 21per cent.
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