After topping records throughout the beginning of the year, load volumes are beginning to normalize.
TORONTO – Loadlink Technologies’ Canadian spot market contracted in June, falling 23 percent from May’s record, though volumes saw a 7 percent increase year-over-year.
JUNE SPOT FREIGHT HIGHLIGHTS
- June’s truck-to-load ratio was 2.53, just over 5 percent lower compared to the ratio of 2.68 in June 2021.
- Capacity has grown for a third straight month in June, diverging from the dramatic capacity strains seen over the past two years.
- While national averages trend downward, Loadlink’s Posting Index reveals that there are lanes still experiencing growth – like Alberta – Vancouver, BC, where outbound loads are up 30% this month.
Outbound Cross-border Activity
Truckloads shipping across the border from Canada to the United States fell by 53 percent from last month yet are still up 21 percent from this time last year. Equipment postings were down 2 percent year-over-year, up 60 percent from May.
Inbound Cross-border Activity
Inbound loads fell 34 percent compared to last month, and 6 percent compared to last June. Equipment postings decreased 2 percent year-over-year, though were up 40 percent from May.
Intra-Canadian Activity
Freight activity within Canada has seen a 21 percent dip from May, though loads within Canada are still 25 percent greater than what we saw this time last year.
Average Truck-to-Load Ratios
The truck-to-load ratio rose again in June, continuing to climb from the record-setting ratio lows seen in the pandemic. The ratio for June was a healthy 2.53 available trucks for every load posted. Year-over-year, June’s truck-to-load ratio was just over 5 percent lower compared to a ratio of 2.68 in June 2021.
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 from roughly 7,000 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 ecosystem of technology, data, and analytics 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.