2017 marked a rush of activity on Loadlink and sequentially higher load volumes throughout the second half of the year.
TORONTO –TransCore Link Logistics concluded its fourth quarter with Loadlink Canadian and cross-border load volumes breaking historical records when compared to any previous quarter. Fourth quarter load volumes were up 51 percent when compared to the fourth quarter of 2016 and up nine percent compared to the third quarter of 2017.
Even with two fewer shipping days as a result of the Christmas and Boxing Day statutory holidays, December had the highest daily average of load postings compared to any month since Loadlink began recording data.
2017 FREIGHT VOLUME RESULTS HIGHLIGHTED:
- The highest load volumes for the year were in December and the lowest were in February.
- December marked the second highest posted volumes on record for Loadlink.
- Since May, there were seven sequential months of record-breaking load volumes.
- August had an 80 percent increase year-over-year in posted loads entering Canada from the United States.
- The most significant month-over-month increase took place in March, which was 33 percent higher than February.
- The most significant year-over-year increases took place in October and December, both of which were 57 percent higher than those reported in 2016.
- Year-over-year, the total load volumes averaged a 45 percent increase compared to the total average volumes in 2016.
Equipment postings experienced more subtle variances when compared to load volumes for the first 11 months of the year and before a dramatic decline in December.
December’s equipment postings declined 27 percent when compared to November and 29 percent when compared to December 2016. A decrease in December’s equipment postings is very typical for the month. In fact, there is no year on record for Loadlink that did not see a December decrease in equipment postings. This trend is in direct correlation to many carriers wanting to be home with their families during the holiday season.
The highest equipment volumes were in May and the lowest equipment volumes were in December.
In December, capacity tightened to the most competitive truck-to-load ratio when compared to the previous 11 months. The year started out with a very competitive 2:1 ratio for trucks posted versus loads posted on Loadlink and remained close to this ratio until mid-year, before tightening capacity in the third and fourth quarters of 2017.
This tightened capacity was driven by the unprecedented growth in load volumes in 2017. Notably, December saw the number of trucks posted versus the number of loads posted reach a near one-to-one ratio, specifically reaching 1.14 trucks for every one available load on Loadlink. Year-over-year, this ratio tightened from 2.26 when compared to December 2016.
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.