The platform experienced a substantial increase in volume. While the largest gains were driven by the recent rail strike, early August still showed large gains in load volumes prior to rail disruptions.

Annual Volumes Soar

Most impressive are the year-over-year changes. Capacity was at an all-time high a year ago in August 2023. Posted equipment has declined by 20% from that period, while loads grew with a massive 32% YOY increase.

Market Mix

Cross-border load postings continued to dominate Loadlink’s load postings, accounting for 59% of all data submitted in August.Outbound cross-border trade grew significantly – 54% month-over-month, while inbound remained relatively flat month-over-month.Inter Canadian postings saw a surge in loads moving within Canada in the latter half of the month.

Equipment Trends

Dry Van trailers remained the most popular equipment type, accounting for 53% of all postings. Reefers and Flatbeds followed behind, with 26% and 17% respectively, and Other hit a standard 4%.

Key Highlights

  • Outbound Cross-Border: Loads from Canada to the United States jumped by 54% month-over-month.
  • Inbound Cross-Border: Inbound loads from the United States to Canada remained flat with a change of less than one percent. Equipment postings also saw minor decline of two percent from the previous month.
  • Intra-Canada: Loads within Canada grew by 34% both month-over-month and year-over-year.
  • Truck-to-Load Ratios: The truck-to-load ratio improved significantly to 3.07 in August from 4.06 in July 2024, indicating a greater number of load postings. Equipment postings, however, dipped by three percent month-over-month and 18 percent year-over-year, this can also be attributed to the rail strike creating greater equipment demand. Overall, August saw an improved market for carriers.

Conclusion

August 2024 was a very successful month for the Canadian freight industry due to record-breaking volumes and strong cross-border trade. We do expect to see a ramp up in the following months leading into the holiday season. Overall, Loadlink’s platform continues to be essential for connecting brokers and carriers, facilitating efficient freight transportation and supporting the growth of the Canadian freight industry.

 

 

Loadlink Technologies, with over 30 years of experience, continues to play a pivotal role in Canada’s freight movement by efficiently matching trucks with loads. Their reliable technology, data, and analytics ecosystem contribute to the industry’s largest and most efficient digital freight network.