TORONTO – Loadlink Technologies’ Canadian spot market saw a slight decline in load volumes, mostly attributed to lesser business days in February. As a result, overall Q1 performance to date has shown solid and consistent volumes. Year-over-year comparisons to early 2022 may show weakness but are largely exaggerated due to 2022’s record-high load volumes.
February SPOT FREIGHT HIGHLIGHTS
| Origin City | Origin State | Destination City | Destination State | Vehicle | YoY (%) | MoM (%) |
| Groveport | OH | Delta | BC | Reefer | 577 | 85 |
| Montreal | QC | Winnipeg | MB | Reefer | – | 62 |
| Toronto | ON | Winnipeg | MB | Van | -32 | 31 |
| McAllen | TX | Vancouver | BC | Reefer | 179 | 29 |
| Toronto | ON | Calgary | AB | Reefer | -31 | 17 |
| Montreal | QC | Mississauga | ON | Van | -35 | 15 |
Outbound Cross-border Activity
Outbound loads from Canada to the United States fell by just one percent from last month but were down 51 percent from this time last year. Equipment postings decreased by eight percent from January but were up 69 percent year-over-year.
Inbound Cross-border Activity
Inbound loads fell in February by 22 percent compared to January and were also down 53 percent on a year-over-year basis. Equipment postings were down just three percent from last month but up a hefty 80 percent from last February.
Intra-Canadian Activity
Freight activity within Canada rose slightly by four percent in February, but load postings decreased by 19 percent year-over-year. Equipment postings declined seven percent month-over-month but were up 44 percent year-over-year.
Average Truck-to-Load Ratios
The truck-to-load ratio in February of 1.82 was four percent higher than the 1.76 trucks for every load posted in January. Year-over-year, February’s truck-to-load ratio was 190 percent higher than the extremely low ratio of 0.63 in February 2022.
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 of roughly 7,750 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 technology, data, and analytics ecosystem 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.