Lighter Lockdown Restrictions Boosts Canadian Spot Market Freight

The lockdowns put down in Canada in response to the coronavirus pandemic have been hard on a lot of businesses, and logistic firms like Titan Transline are no exception. Thankfully, more and more people are getting vaccinated, and lockdown restrictions are being loosened up, which has resulted in things slowly going back to normal and businesses recovering.

Among the results of loosened restrictions was the boost of the Canadian spot market, which saw load volumes surging in the earlier months of 2021; February saw single-day levels that haven’t been since 2018.

Loadlink Technologies published their data on the matter, reporting that February saw a boost in load volumes on the latter half of the month, with Feb. 25 being the peak, with the highest single-day load volumes on record since July 2018. As for general average, February saw an increase of 19%.

Loadlink attributes this boost to loosening COVID-19 lockdown restrictions in a lot of parts of Ontario and Quebec. Domestic loads across Canada went up by 20%.

The firm says that this is a chance for carriers like Titan Transline, as well as brokers to prepare for a busier season, as data shows that March and onward will set high numbers, much like in February. Rising spot rates, Loadlink warns, however, might also be on the horizon, due to the increased demand for their services.

Outbound cross-border loads ended a 4-month long streak of drops with a huge 40% surge in February 2021. Granted, inbound cross-border loads only went up by 1% from January but went up by 14% from the same month in the prior year. Alberta recorded the best performance in February, with a 27% increase in cross-border freight, while most provinces in Canada saw a drop.

When it comes to domestic loads, Loadlink’s data shows that Quebec did the best, with a 41% upsurge in intra-Canada loads, followed by Ontario at 19%.

Loads increased, but capacity tightened by 12% for February 2020. The month had an average of 2.61 trucks per load compared to January’s 2.97. This, in turn, led to a year-on-year increase of 8% on truck-to-load ratio.