OTTAWA — The top 97 for-hire carriers generated operating revenue of $2.6 billion and operating expenses of $2.4 billion in the third quarter of 2008.
For these carriers, which earn $25 million or more annually, the year-over-year growth rates for operating revenues and for operating expenses were identical (+2.1% each) in the third quarter, reports Stats Canada.
This continues the steady but moderate year-over-year growth recorded in each of the first three quarters of 2008.
In the third quarter, the operating ratio (operating expenses divided by operating revenue) remained unchanged from the previous year at 0.95.
A decline is fuel prices more than likely kept ORs level, mitigating the reported drop in freight volume and rates in the latter half of 2008.
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