A Load Volume Rebound on Loadlink pushed Truckload Capacity Demands Lower in May
TransCore Link Logistics’ Canadian spot market in May saw some semblance of balance as freight volumes rose alongside a lesser increase in truck volumes following an expectedly weaker April.
Notable events in May could have caused some fluctuations from regular freight movement. The week following an announcement to end steel and aluminum tariffs between Canada and the United States, daily average load postings jumped nine percent.
Although there were two fewer shipping days to recognize both a Canadian and U.S. holiday, month-over-month, May’s load volumes finished 12 percent higher than April. These numbers were down 35 percent year-over-year.
Intra-Canada loads accounted for 32 percent of the total volumes. Load postings within Canada increased 11 percent compared to April and were down 28 percent year-over-year.
Loads entering Canada from all regions increased month-over-month:
Ontario-based loads increased 9 percent
Western Canada-based loads increased 3 percent
Quebec-based loads increased 19 percent
Atlantic Canada-based loads increased 31 percent
Loads leaving Canada to destinations within Canada month-over-month performance:
Ontario bound increased 12 percent
Western Canada increased 15 percent
Quebec bound increased 10 percent
Atlantic Canada decreased 20 percent
Cross-border load postings represented 66 percent of the data submitted by Loadlink users.
An overall increase of 12 percent in cross-border load postings was observed in May.
Loads leaving Canada to the United States decreased five percent; however, loads entering Canada from the U.S. surged 20 percent.
Loads from the U.S. entering Ontario, Quebec, and Atlantic Canada increased 28, 27 and 18 percent, respectively.
Loads from the U.S. entering Western Canada dropped eight percent.
May equipment numbers increased for the third consecutive month and reached a record high on Loadlink’s load matching system. Daily average number of truck postings were flat, increasing one percent compared to the overall increase of five percent for the month. This difference was due to reduced workdays from both Canadian and American holidays. Compared to May 2018, truck availability was up 52 percent year-over-year.
The truck-to-load ratio in May tightened to 3.57, a five percent decline from April’s ratio at 3.78. Year-over-year, the average ratio increased 134 percent from 1.52 in May 2018.
About TransCore Indexes
Truckload spot rates in specific areas can be accessed from TransCore’s Rate Index truckload rating tool, and real-time and historical data on total truck and load volumes, as well as ratios in specific areas can be accessed from TransCore’s Posting Index.
TransCore’s Canadian Freight Index accurately measures trends in the truckload freight spot market. The components of the Freight Index are comprised from roughly 6,400 of Canada’s trucking companies and freight brokers; this data includes all domestic, cross-border and interstate data submitted by Loadlink customers.
About TransCore Link Logistics
Looking for a better way to match available freight loads with trucks, TransCore Link Logistics in 1990 developed Loadlink, a load board connecting brokers, carriers, owner-operators and private fleets in Canada to a real-time database of 18 million loads, shipments and trucks – the largest in the industry. The monthly Canadian Freight Index now defines the freight movement spot market. The company also provides its customers with dispatch solutions, ACE/ACI eManifest, Posting Index, Rate Index, credit solutions, factoring, an online transportation job board, mileage software and more.