Loadlink’s April Conditions Presented Opportunity for Brokers to Capitalize on Carrier Abundance
TORONTO – Carriers on TransCore Link Logistics’ Canadian spot market saw a new monthly record in highest ever truck postings, as reported on Loadlink’s load-matching system. Load postings took an expected seasonal fall compared to March; however, the last week of April saw a 14 percent boost in load volumes compared to the previous week and were up nine percent when compared to the first week of April.
Month-over-month, April’s load volumes finished 17 percent lower than March. These numbers were down 41 percent year-over-year. Although April is typically the lowest performing month in the second quarter, strengthening load volumes near the month’s end may provide some optimism for early May volumes.
Intra-Canada loads accounted for 33 percent of the total volumes. Load postings within Canada decreased three percent compared to March and were down 26 percent year-over-year.
Loads entering Canada from Ontario, Western and Atlantic Canada decreased 32, 12, and 12 percent, respectively.
Loads entering Canada from Quebec increased two percent.
Loads leaving all regions of Canada to destinations in Canada decreased.
Western Canada-bound loads decreased 22 percent.
Ontario-bound loads decreased 18 percent.
Quebec-bound loads decreased 16 percent.
Atlantic Canada-bound loads decreased 10 percent.
Cross-border load postings represented 65 percent of the data submitted by Loadlink users.
An overall decline of 16 percent in cross-border load postings was observed in April.
Loads leaving Canada to the United States decreased 31 percent; however, loads entering Canada from the U.S. slipped 14 percent.
Loads from the U.S. entering Ontario decreased 10 percent, while loads entering Western Canada decreased 26 percent.
Loads from the U.S. entering Quebec and Atlantic Canada only declined a slight two and six percent, respectively.
April equipment numbers, as well as the daily average number of truck postings, increased 13 percent. Compared to April 2018, capacity was up 68 percent year-over-year. Equipment numbers for the month was the highest for any month ever recorded in Loadlink’s database.
The truck-to-load ratio in April was 3.78, constituting a 36 percent increase over the March value of 2.79. New record high truck volumes combined with the seasonal dip of load volumes that normally occurs in April resulted in a very high ratio. Year-over-year, the average ratio increased 185 percent from 1.32 in April 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.