TORONTO - Three years after posting unprecedented load volumes for Loadlink customers in 2014, the year 2017 is shaping up to become just as impressive. March volumes were the highest ever recorded since the records were first broken in March 2014.
Performance of March Load Volumes
- Volumes were up 33 percent compared to last month,
- Volumes were up 51 percent compared to last year, and
- First Quarter volumes were up 31 percent compared to the fourth quarter of 2016, and were higher by 43 percent compared to the first quarter of 2016.
The increase in load volumes were all-encompassing and reflected cross-border loads (both inbound and outbound) as well as inter-Canadian freight.
Intra-Canada loads represented 27 percent of the total volumes and jumped 50 percent year-over-year.
Cross-border load postings averaged 71 percent of the total data submitted by Loadlink’s Canadian-based customers and was higher compared to last year:
- Loads leaving Canada increased 30 percent, and
- Loads coming into Canada climbed sharply 69 percent year-over-year.
Even though equipment capacity rose 11 percent compared to last month, this increased availability was probably undetected by freight brokers due to the increase in their load postings. Despite this increase, for the first time in over two years, the truck-to-load ratio fell to under two trucks for every available load to 1.78 from 2.11 in February. Compared to last year, the truck-to-load ratio improved 42 percent; in March 2016, this ratio was 3.05.
This increase in loads and capacity in March is encouraging news for brokers, and especially for carriers coming into the industry as there is more available work to be found and brokers are able to better fulfil shipping requirements with their customers.
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 5,500 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 15 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, online transportation job boards, mileage software and more.
TransCore Link Logistics is a unit of Roper Technologies, a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper designs and develops software (both software-as-a-service and licensed), and engineered products and solutions for healthcare, transportation, food, energy, water, education and academic research markets worldwide. Additional information about Roper is available on the company's website at www.ropertech.com.