The Canadian freight sector experienced a strong performance in July despite a seasonal decline in load volumes, accoding to Loadlink Technologies. Overall freight volumes were significantly higher compared to the previous year, while the month-over-month decline from June narrowed.

Year-over-year load volumes grew by 12 percent, reflecting the broader strengthening seen in the industry. Month-over-month volumes did decline by 8 percent, but it's important to note that this was largely driven by the impact of Canada Day and the 4th of July holiday periods. July volumes have experienced declines of over 20 percent in recent years because of the seasonal summer holidays and economic conditions. The nominal 8 percent decline last month can be viewed as a positive sign for carriers.

Cross-border trade remained a key driver, accounting for 62 percent of all freight movements. Loads between Canada and the United States increased significantly, with inbound freight increasing 18 percent and outbound freight growing by 20 percent compared to the same period last year.

Domestic freight accounted for the remaining 38 percent of loads. While there was a modest month-to-month increase of 8 percent.

The truck-to-load ratio increased to 4.06 in July, but is down from the previous month, again accounting for the holidays. The year-over-year ratios had a very healthy improvement of 12 percent, indicating signs of better market conditions for carriers.

Source: Loadlink

 

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