Truck to load ratios rose above one and a half trucks available for every one load posted, the second straight month of capacity growth.
TORONTO – Loadlink Technologies’ Canadian spot market shrank further this May, though compared to years past is still in positive territory. So despite falling 15 percent from April, while looking at the data from last May, volumes saw a noteworthy 40 percent increase year-over-year.
MAY SPOT FREIGHT HIGHLIGHTS
- May’s truck-to-load ratio was 1.68, 32 percent lower compared to the ratio of 2.47 in May 2021.
- Capacity has grown for a second straight month in May, following the past two years of dramatic capacity strains.
Outbound Cross-border Activity
Truckloads shipping across the border from Canada to the United States fell by 30 percent from last month, yet are still up 82 percent from this time last year. Equipment postings were down 10 percent year-over-year, up 37 percent from April.
Inbound Cross-border Activity
Inbound loads fell 12 percent compared to last month, while still up 27 percent compared to last May. Equipment postings were unchanged year-over-year and up 20 percent from April.
Intra-Canadian Activity
Freight activity within Canada has seen a 5 percent dip from April, though loads within Canada are still 45 percent greater than what we saw in May of last year.
Average Truck-to-Load Ratios
The truck-to-load ratio rose in May, signifying the transitionary nature of the spot market in Canada, as we recover from the record-setting ratio lows seen in the pandemic. The ratio for May was 1.68 available trucks for every load posted, up 47.4 percent from 1.14 in April. Year-over-year, May’s truck-to-load ratio was 32 percent lower compared to a ratio of 2.47 in May 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.