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Top for-hire motor carriers suffering financially

OTTAWA, Ont. -- Canadian motor carriers felt the impact of slower economic growth on both sides of the border at th...


OTTAWA, Ont. — Canadian motor carriers felt the impact of slower economic growth on both sides of the border at the end of 2002.

Statistics Canada records show that the nation’s top for-hire carriers saw their operating ratio (operating expenses divided by operating revenues) deteriorate to 0.95 in the fourth quarter from 0.94 in the fourth quarter of 2001. A ratio of greater than 1.00 represents an operating loss.

The top 82 for-hire motor carriers (Canada-based trucking companies earning $25 million or more annually) generated operating revenues of $1.8 billion and expenses of $1.7 billion in the fourth quarter. Average per-carrier revenue increased by a little more than 2% from the fourth quarter of 2001, reaching $21.9 million. Average per-carrier expenses increased 3% to 20.9 million.


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