Canadian truckload spot market grew for the sixth consecutive month

October load volumes on Loadlink’s Canadian spot market increased two percent month-over-month, while freight demand surpassed October 2019 with a sizeable increase of 18 percent more load postings.

Freight volumes in October closed in on similarly strong numbers seen in the first quarter of 2020 prior to the novel coronavirus pandemic. A small, but gradual, improved average number of daily postings contributed to the positive monthly growth witnessed throughout each month since April.

As seen in some earlier months this year, a strong push in the last week of the month helped propel volumes into a positive territory to continue the trend of four consecutive months of positive year-over-year comparisons, and marking six consecutive months of increasing load volumes.

Although the overall spot market improved, Loadlink’s busiest corridor between Ontario and Quebec saw an average of 15 percent less freight regardless of inbound or outbound status. Intra-provincial freight within Ontario and Quebec also fell three and nine percent, respectively.

Outbound freight activity between Canada and the United States fell seven percentage points, and counteracted much of the overall cross-border improvement seen from inbound activity. Equipment travelling to the US remained flat with virtually no change. Ontario and Western Canada had an average of 15 percent less loads destined to the US, while both Quebec and Atlantic Canada actually saw 13 percent more loads entering the U.S.

Source: Loadlink

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