TransCore Link Logistics’ Canadian spot market saw an overall improvement in load volumes of four percent in October, but truck-to-load balance expanded due to an even greater bump of 10 percent in truck volumes. Cross-border freight postings contributed the most to higher load volumes, while truck postings increased at equal levels across both sides of the border.
As the 2019 year winds down, TransCore Link Logistics wants to note that year-over-year truck and load comparisons are diminishing as volumes are approaching relatively closer levels to those seen in late 2018. According to TransCore’s Freight and Truck Index, annual percentage changes hit its lowest levels in October 2019. Load volumes were down just 13 percent while truck volumes were up 11 percent compared to October 2018. The graph below demonstrates this decline as 2019 has progressed.
OCTOBER HIGHLIGHTS
Western Markets Lead Gains within Canada
Amidst the consistent intra-Canadian load volumes, markets in Western Canada saw large gains in volumes. Notable city-to-city line hauls with improved volumes included: Calgary (AB) to Surrey (BC), Edmonton (AB) to Surrey, Calgary to Langley (BC), and Regina (SK) to Calgary. These lanes saw monthly posting volumes go up an average of 104 percentage points while the Calgary and Edmonton to Surrey lanes saw their highest volumes so far in 2019.
Montreal Involved in Improved Cross-Border Performance
In terms of cross-border activity, the Montreal (QC) market played a large role for improved performance across several states. The Montreal to Chicago (IL) lane was up just seven percent from last month, but had its strongest showing in the year. The Montreal to Detroit (MI) lane had monthly volumes surge 275 percent and peaked for the year. Other Montreal lanes that demonstrated strong cross-border performance included Laredo (TX) to Montreal, Montreal to Miami (FL), and McAllen (TX) to Montreal. These lanes saw posting volumes jump an average of 75 percent from September.
EQUIPMENT PERFORMANCE
October equipment numbers increased 10 percent while the daily average number of truck postings did not change. Compared to October 2018, capacity was up 11 percent year-over-year. Similarly to every month this year since March, capacity for the month was the highest for any October ever recorded in Loadlink’s database.
TRUCK-TO-LOAD RATIO
The truck-to-load ratio expanded five percent from 3.90 in September to a value of 4.11 in October. Although load volumes improved from last month, a larger percentage increase in overall higher truck numbers caused the ratio to expand. Year-over-year, the average ratio for October increased 28 percent from 3.22 trucks for every load in October 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.
More information on TransCore Link Logistics can be found at www.transcore.ca, @loadlink on Twitter, on YouTube, on Facebook and on LinkedIn.