Higher than average load volumes continue to dominate Loadlink’s freight matching network in February, setting the bar for the rest of the year
TORONTO –-The number of loads posted on Loadlink last month for Canadian and cross-border load volumes dipped by nine percent from historically high levels. However, even with this dip, February load volumes were the second highest ever recorded, which were set in January. Compared to last year, February load volumes rose an extraordinary 74 percent year-over-year.
Intra-Canada loads accounted for 22 percent of the total volumes and amounted to a 48 percent increase year-over-year.
Cross-border load postings represented 76 percent of the data submitted by Loadlink users:
- Loads leaving Canada to the United States increased 92 percent year-over-year, and
- Loads entering Canada increased 82 percent year-over-year.
Equipment postings continued its decline in 2018, dipping nine percent compared to January 2018 and down 30 percent compared to February of 2017.
The indicators for increasingly higher-than-usual demand for trucks were first noted on the Freight Index at the end of the third quarter of 2017, when the supply of loads were increasing at a higher rate than truck capacity. Legislative changes for carriers that came into effect in January 2018 exacerbated the tightening of the spot market demand and capacity.
There was no change in the truck-to-load ratio in February compared to January. The number of trucks posted versus the number of loads posted was 0.85 trucks available for every one load posted on Loadlink. Year-over-year, the ratio tightened from 2.11 in February 2017.
About TransCore Indexes
Truckload spot rates in specific areas can be accessed from TransCore’s Rate Index truckload rating tool 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 5,600 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 developed Loadlink in 1990. Loadlink is 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.