TORONTO, Ont. – In a month that normally marks an increase in volumes, Canadian spot market load volumes declined 7% in June.
June volumes were down 39% year-over-year.
However, an even greater decline in truck postings caused truckload capacity to contract 7%, TransCore Link Logistics reports. Average van rates fell by 3%, while average intra-Canada flatbed and reefer rates both increased 5%.
TransCore reports Canada’s spot market cooled in the second quarter, following an unusually strong start to the year.
For the second quarter, spot market load volumes were down 15% compared to Q1, and down 38% year-over-year. Normally Q2 load volumes outperform the first quarter, TransCore noted.
Equipment postings in the second quarter were the strongest in Loadlink’s history, up 21% over Q1 and 53% year-over-year.
Load postings within Canada were down 10% compared to May and 26% year-over-year. Cross-border load postings were down 5% compared to May.
Truck capacity was up 40% in June, compared to June 2018, and it marked the highest capacity ever for the month of June. The truck-to-load ratio in June was 3.31, down from the 3.57 trucks that were chasing each load in May. Compared to the first quarter, the Q2 truck-to-load ratio was up 43%, to 3.55 trucks per load compared to 2.49.
In comparison, last June, there were only 1.45 trucks per load.