TORONTO – TransCore Link Logistics’ Canadian spot market reported relatively even load and truck availability, dipping slightly in November due the holidays and decreased driver availability. While load availability saw a noticeable increase as Black Friday approached, it dropped dramatically in the days just prior to the start of the shopping spree. By then, most last-minute loads were tendered.
November ended the month with strong load performance as upcoming winter festivities and holidays may ignite additional freight movement. More importantly, the conclusion of key economic discussions and agreement on a new North American trade agreement may also bring some short-term security and confidence to the Canadian spot market.
Month-over-month, November load volumes were down four percent from October. Year-over-year, November’s load volumes were down 31 percent. Last year’s impressive year-end performance overshadowed this year-over-year decline.
Intra-Canada loads accounted for 33 percent of the total volumes and were down 15 percent year-over-year.
Cross-border load postings represented 65 percent of the data submitted by Loadlink users.
Cross-border activity made up a large majority of load movement on Loadlink and the American Thanksgiving played a visible role in affecting freight movement.
- Loads leaving Canada to the United States decreased 41 percent year-over-year, and
- Loads entering Canada decreased 31 percent year-over-year.
Equipment Performance
November boasted a strong equipment performance despite a drop from October’s volumes. November’s equipment postings decreased five percent when compared to October 2018 and increased 38 percent when compared to November 2017.
Truck-to-Load Ratio
Month-over-month, there was an insignificant shift in the average truck-to-load ratio. November’s truck-to-load ratio was 3.20 compared to 3.22 in October. Year-over-year, the average ratio increased 99 percent from 1.61 in November 2017.
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 6,300 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.