Canada’s Spot Freight Market Sees Strong Growth in January 2025
Rising Load Volumes and Tighter Truck Availability
Source : Loadlink
The January 2025 Freight Index shows significant growth in Canada’s spot freight market, with a notable increase in load volumes and a slight decline in truck availability. These trends indicate a strong demand for carriers, making it a carrier-favored market to start the year.
Load and Equipment Trends
Cross-Border Freight
Cross-border freight activity surged at the beginning of 2025, accounting for 72% of posted loads on Loadlink’s spot market:
•Outbound Loads (Canada to U.S.): +41% year-over-year, +12% month-over-month.
•Inbound Loads (U.S. to Canada): +4% year-over-year, but a significant 88% increase from December 2024.
However, truck availability for cross-border shipments has tightened:
•Inbound Truck Postings: -23% year-over-year, -20% month-over-month.
•Outbound Truck Postings: -34% year-over-year, -15% month-over-month.
Intra-Canada Freight
Domestic freight also maintained steady growth:
•Load Postings: +8% month-over-month, +4% year-over-year.
•Truck Postings: +5% month-over-month but down 31% year-over-year, signaling reduced truck availability within Canada.
Truck-to-Load Ratio and Equipment Trends
The truck-to-load ratio, a key market capacity indicator, continued its tightening trend:
•1.64 trucks per load, a 27% drop from December 2024 and 37% lower than January 2024.
The most common equipment types posted in January:
•Dry Vans: 57%
•Reefers: 28%
•Flatbeds: 13%
•Other equipment types: 2%
Why Are Load Volumes Increasing?
Several factors are driving this rise in load volumes:
•Seasonal Trends: Since 2015, January load volumes have always exceeded those of December.
•Economic Uncertainty: Political transitions and tariff negotiations may be pushing businesses to secure inventory early.
•Pre-Tariff Stockpiling: Anticipated tariff increases are causing businesses to accelerate shipments before potential regulatory changes.
Looking Ahead: Trade and Tariff Impacts
Trade policies and potential tariff adjustments will continue to shape freight demand in the coming months. Industry stakeholders should stay alert to market fluctuations.