Spot Market Activity Flat from Month Before, Down from 2014
TORONTO – Activity on the Canadian spot freight market was virtually unchanged in August from the month before, but fell significantly compared to a year earlier, according to TransCore Link Logistics‘ Canadian Freight Index.
The index registered 196, its lowest level since February 2010 when it came in at 182. Compared to August 2014 it is down 26 percent, the biggest year-over-year drop so far in 2015.
Cross-border loads leaving Canada decreased 10 percent from a year earlier while loads coming into Canada fell 36 percent. These volumes averaged 67 percent of the total data submitted by Loadlink’s Canadian-based customers.
Inbound cross border trucks increased 43 percent and outbound equipment availability increased 22 percent.
The greatest percentage of cross-border loads, 61 percent, were destined for Ontario while 19 percent went to Quebec and 17 percent to the Western Provinces.
Intra-Canada load volumes represented 28 percent of the total volume and were down 22 percent year-over-year. Loads moved within Canada were four percent lower than last month.
Equipment capacity declined for August by seven percent month-over-month and increased 32 percent year-over-year.
The equipment-to-load ratio dipped to 3.47 from 3.71 in July. Year-over-year, this ratio increased from 1.89 in August 2014, representing a 78 percent change.
Dry vans had the biggest share of equipment postings in August, 51 percent, followed by reefers with 25 percent, flatbeds with 18 percent and others with 8 percent.
TransCore’s Canadian Freight Index measures trends from roughly 5,000 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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