The Canadian spot market reached all-time high load volumes for November – up 69% year over year, and up 32% from the previous month of October, reports Loadlink Technologies.
“These past few months have shown a clear sign that even through all of the uncertainty that the pandemic continues to cast, along with the bottlenecks within the supply chain, the spike in demand remains strong,” says Claudia Milicevic, president of Loadlink Technologies.
Loadlink reports there were fewer than two trucks posted for each available load. The truck-to-load ratio was 1.79, down 25% from October. Loadlink says this is the tightest capacity seen in the Canadian spot market since June 2018. Capacity was 40% tighter from last November.
Both domestic and cross-border freight demand increased in November. Loads to the U.S. were up 28% compared to October, and up 113% year over year. This, while equipment postings fell 9% putting pressure on capacity.
Inbound loads from the U.S. also increased 46%, both month over month and year over year, while domestic loads climbed 25% from October, and 66% year over year.