TORONTO – Loadlink Technologies’ Canadian spot market softened again in July, falling 26 percent from June, and 11 percent year-over-year.
JULY SPOT FREIGHT HIGHLIGHTS
- July’s truck-to-load ratio was 3.51, just over 14 percent higher than the ratio of 3.08 in July 2021.
- Capacity has grown for a fourth straight month in July, continually recovering from the dramatic capacity strains brought about during the pandemic.
- While national averages trend downward, Loadlink’s Posting Index reveals that there are lanes still experiencing growth – like:
- Toronto, ON -> Calgary, AB | Reefer | +14% M-o-M | -9% Y-o-Y
- Montreal, QC -> Winnipeg, MB | Van | +16% M-o-M | -25% Y-o-Y
- Houston, TX -> Edmonton, AB | Flatbed | +246% M-o-M | +95% Y-o-Y
Outbound Cross-border Activity
Truckloads shipping across the border from Canada to the United States fell by 18 percent from last month, now culminating in a 20 percent decline from this time last year. Equipment postings were up 2 percent year-over-year, unchanged from June.
Inbound Cross-border Activity
Inbound loads fell 38 percent compared to last month and 17 percent compared to last July. Equipment postings were up by 2 percent year-over-year and 2 percent from June.
Intra-Canadian Activity
Freight activity within Canada has seen a 17 percent dip from June, though loads within Canada are still 5 percent greater than what we saw this time last year.
Average Truck-to-Load Ratios
The truck-to-load ratio rose again in July, the inverse effect of the record-setting ratio lows seen over the last two years. The ratio for July was 3.51 available trucks for every load posted. Year-over-year, July’s truck-to-load ratio was 14 percent higher than the ratio of 3.08 seen in July 2021.
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 from roughly 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 ecosystem of technology, data, and analytics 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.