TORONTO – Loadlink Technologies’ Canadian spot market started the second quarter with lower freight volumes across the board, but truck volumes remained high, continuing its strong performance from March. Year-over-year comparisons continue to look exaggerated as load volumes in early 2022 were at unprecedented record highs. On a month-over-month basis, load volumes fell 39 percent, and equipment volumes rose two percent. Compared to April 2022, load volumes decreased by 56 percent, while truck volumes were up 61 percent.
April Spot Freight Highlights
Some bright spots in the freight market stemmed from inbound cross-border activity, mainly from markets in Florida and Texas entering markets in Ontario and Quebec.
| Origin City | Origin State | Destination City | Destination State | Vehicle | YoY (%) | MoM (%) |
| Jacksonville | FL | Montreal | QC | Van | 279 | – |
| Miami | FL | Montreal | QC | Reefer | 42 | 176 |
| Victoria | TX | Brampton | ON | Reefer | – | 53 |
| Jacksonville | FL | Toronto | ON | Van | 58 | 46 |
| Surrey | BC | Winnipeg | MB | Van | 10 | 39 |
| Laredo | TX | Montreal | QC | Reefer | 13 | 11 |
Outbound Cross-border Activity
Outbound loads from Canada to the United States fell by 44 percent from last month but were down 69 percent from this time last year. Equipment postings increased by just six percent from March and were up 83 percent year-over-year.
Inbound Cross-border Activity
Inbound loads decreased by 35 percent in April compared to March and were down 54 percent year-over-year. Equipment postings were unchanged from last month but up 54 percent from last April.
Intra-Canadian Activity
Freight activity within Canada decreased by 41 percent in April, and load postings decreased by 47 percent year-over-year. Equipment postings remained consistent month-over-month but were up 53 percent year-over-year.
Average Truck-to-Load Ratios
The truck-to-load ratio in April was 4.18 trucks for every one load posted on Loadlink. The ratio for last month was 2.51 available trucks for every load posted, which meant April’s ratio expanded by 67 percent. Year-over-year, truck-to-load ratio increased by 266 percent compared to a ratio of 1.14 in April 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.