TORONTO – Loadlink Technologies’ Canadian spot market started 2024 with impressive freight activity following a slight holiday slowdown in December. Total load postings on Loadlink’s freight matching network increased by 47 percent with more than double the volume of inbound cross-border load postings from last month, resulting in the highest monthly load volumes since March 2023. Truck volumes also saw a slight improvement of four percent more postings from December as equipment availability rebounded following the holidays. Following three consecutive quarters of truck-to-load ratios of over three available trucks per load posted on Loadlink’s spot market, the balance has tightened to a healthier level of just over two and a half trucks per one load.

Outbound Cross-border Activity

Out of all regions, outbound cross-border activity saw the lowest but still substantial improvement from December’s volumes. Load postings improved monthly with a 12 percent increase while equipment postings grew at a higher pace of 16 percent. Outbound cross-border activity comprised roughly half of all cross-border activity in December but was only a third of it in January. Year-over-year, outbound load volumes were down 20 percent still as early 2023 load activities were vastly superior, while outbound truck postings were up 15 percent.

Inbound Cross-border Activity

Inbound loads entering Canada from the United States saw the largest gains entering the new year with 110 percent more loads posted in January from December. Inbound activity usually improves in January (52 percent gain in 2023 compared to 2022) but 2024 showed standout performance even among past years despite early 2023 comparisons still holding strong in favour of 2023. Due to January’s strong inbound activity, inbound freight movement accounted for two thirds of cross-border activity compared to about half in December. Truck postings also saw a slight dip of six percent from December to January. Year-over-year comparisons are very similar to that of outbound activity as overall inbound load postings were down 20 percent, while truck postings were up 16 percent.

Intra-Canadian Activity

Month-over-month loads within Canada saw respectable gains with 20 percent more load postings against seven percent more truck postings compared to December 2023. Compared to January 2023, load postings decreased 25 percent while truck postings increased 18 percent.

Average Truck-to-Load Ratios

The truck-to-load ratio in January was 2.61 trucks for every one load posted on Loadlink. The ratio for December 2023 was 3.68 available trucks for every load posted, which meant January’s ratio tightened by 29 percent from December’s value. Year-over-year, truck-to-load ratio increased by 48 percent compared to a ratio of 1.76 in January 2023.

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 over 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 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.

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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.