TORONTO – Loadlink Technologies’ Canadian spot market began the last quarter of the year with slight improvements in overall freight activity. Outbound loads from Canada to the United States led to a gain of nine percent more loads, while inbound and intra-Canadian activity followed with some lesser but still positive gains of four and one percent, respectively. Despite load postings seeing minor improvements, the truck-to-load ratio remained stable from last month due to similar increases in equipment postings.
October Spot Freight Highlights
|
Origin City |
Origin State |
Destination City |
Destination State |
Vehicle |
Year-on-year (%) |
MoM (%) |
|
Laredo |
TX |
Montreal |
QC |
Reefer |
34 |
131 |
|
Mississauga |
ON |
Houston |
TX |
Van |
124 |
129 |
|
Montreal |
QC |
Atlanta |
GA |
Reefer |
106 |
89 |
|
Salinas |
CA |
Montreal |
QC |
Reefer |
79 |
76 |
|
Calgary |
AB |
Winnipeg |
MB |
Van |
55 |
67 |
|
Calgary |
AB |
Delta |
BC |
Van |
101 |
37 |
Outbound Cross-border Activity
Outbound loads from Canada to the United States once again saw the largest improvement month-over-month with nine percent more loads than in September, but volumes remained four percent lower than in October 2022. Equipment postings saw very little change with just one percent less volume in October compared to September, but was still up 13 percent from last year.
Inbound Cross-border Activity
Inbound loads entering Canada from the United States also saw some gains with four percent increased volumes from last month, while year-over-year, load volumes declined seven percent. Equipment postings saw similar gains on both a month-over-month and year-over-year basis, with eight and seven percent increases, respectively.
Intra-Canadian Activity
Canadian freight movement saw little change, with just one percent more load postings in October than in September. Year-over-year, intra-Canadian load postings were down nine percent. Equipment postings were up just four percent from last month, but, like outbound volumes, increased 13 percent year-over-year.
Average Truck-to-Load Ratios
The truck-to-load ratio in October was 4.33 trucks for every load posted on Loadlink. The ratio for last month was 4.34 available trucks for every load posted, which meant October’s ratio saw virtually no change from September’s value. Year-over-year, the truck-to-load ratio increased by 19 percent compared to a ratio of 3.64 in October 2022.
About Loadlink Indexes
Freight Index data provides insight into Canada’s economy at large and is a primary resource for the trucking community. The Freight Index accurately measures trends in the truckload freight spot market, as its components are comprised of roughly 7,750 Canadian carriers and freight brokers. This data includes all domestic and cross-border data submitted by Loadlink customers and thus is considered a real-time pulse of what’s happening in the North American freight industry.
Rate Index data is based on the average spot rates paid by freight brokers and shippers to carriers in the specific lanes where loads are hauled. This data also shows real-time and historically available capacity, as well as total truck-to-load ratios.
About Loadlink Technologies
Loadlink Technologies moves Canada’s freight by matching trucks with loads. With 30 years of freight matching experience, Loadlink delivers a reliable technology, data, and analytics ecosystem to keep Canadian freight moving. Loadlink is trusted by transportation companies and brokers of all shapes and sizes and is proudly the industry’s largest and most efficient digital freight network.