Following last month’s swell in truck capacity, TransCore Link Logistics Canadian Spot Market Truck Index saw another spike in July. The equipment capacity climbed sharply in July.
Trucks posted were up 10% month-over-month and jumped 33% year-over-year. The equipment-to-load ratio nearly doubled the ratio year-over-year to 3.71 from 1.89 in July 2014, representing a 96% change. Month-over-month, the ratio increased from 2.53, representing a 47% change.
The equipment to loads ratio is the highest reported since 2009. While load volumes in July fell to the lowest levels all year, load volumes do traditionally decline over the summer months. July also had two fewer shipping days for separate holidays observed in Canada and in the United States. Volumes decreased 25% month-over-month, and 32% year-over-year.
Cross-border loads leaving Canada declined 20%, and loads coming into Canada dropped 42% year-over-year. These volumes averaged 66 percent of the total data submitted by Loadlink’s Canadian-based customers, and were 5% lower than last month’s.
Loads moved within Canada increased 6% in July from the previous month. Intra-Canada load volumes represented 29% of the total volumes and were down 21% year-over-year.