TORONTO, ON – Canadian freight volumes closed out 2017 in record-breaking fashion, reports TransCore Link Logistics.
The company says Canadian and cross-border freight volumes saw unprecedented growth in the last quarter of the year. Volumes were up by 51% year-over-year, and 9% compared to the previous quarter.
Even with Christmas and Boxing Day shutting down operations in many places, TransCore says December had the highest daily average load postings of any month since the company began recording data.
The year showed a significant increase overall, with 2017 posting an average monthly increase in volumes of 45% over 2016.
Capacity tightened for the last month of the year, with the most competitive truck-to-load ratio for 2017 at nearly one-to-one. TransCore says the tightened capacity was driven by the unprecedented growth in load volumes throughout the year.
Not every area of the industry posted gains for the last month of the year. December saw a dramatic decline in equipment postings with a 27% slip from November and 29% year-over-year.
TransCore says the decline in equipment postings is typical for the month, saying there is no year in their records without a slip in the area for December.
Other highlights for 2017 include an 80% year-over-year increase in posted loads entering Canada from the Untied States in August, and a significant month-over-month load volume increase in March, with a gain of 33% over February.