Truckload volumes hit a new all-time high in October, outperforming any other October in Loadlink history heading into the busy holiday season.
TORONTO – Loadlink Technologies’ Canadian spot market kick-started the fourth quarter as its network showed a fourth consecutive month of higher load volumes. Compared to the same month last year, volumes surged 32 percent year-over-year. Compared to the previous month, October’s loads were up five percent month-over-month. Even with one less business day due to the Canadian Thanksgiving holiday, average daily loads reached an all-time high for 2021.
Compared to September, loads were elevated on the system with average daily load volumes up five percent higher month-over-month.
For the first time in four months, loads within Canada saw the largest gain in load postings. Month-over-month, loads within Canada were up seven percent, while year-over-year, this number accelerated 41 percent higher than October 2020. Equipment postings were five percent lower than September and dipped one percent year-over-year.
Both Atlantic and Western Canada saw double-digit increases in domestic loads leaving these regions, increasing 27 percent and 17 percent respectively compared to September. Ontario and Quebec experienced an average 11 percent decline in domestic loads leaving these regions.
Outbound Cross-border Activity
Month-over-month, loads from Canada to the United States were up five percent, while year-over-year, this number had a notable increase of 52 percent compared to October 2020. Equipment postings fell eight percent from September and were 12 percent lower compared to October 2020.
Inbound Cross-border Activity
Loads coming into Canada also saw positive increases compared to the previous month. Inbound activity increased five percent month-over-month and was up 10 percent compared to October 2020. Equipment postings were lower by three percent from September and down two percent year-over-year.
Average Truck-to-Load Ratios
The truck-to-load ratio improved 10 percent to 2.39 available trucks for every load posted from 2.64 in September. Year-over-year, October’s truck-to-load ratio was 27 percent lower compared to a ratio of 3.28 in October 2020.