William B. Cassidy, Senior Editor | Mar 28, 2012 4:35PM EDT
The Canadian spot market for truckload freight hits its second highest point in 11 years in February, according to TransCore’s Canadian Freight Index.
At the same time, transportation costs are climbing for Canadian shippers, according to the Canadian General Freight Index sponsored by Nulogx.
The TransCore spot market-based index climbed 1 percent last month from January, with equipment listings on Loadlink climbing 16 percent year-over-year.
TransCore’s index is based on its Loadlink freight-matching database, which the company says matches more than 13 million Canadian shipments and trucks a year.
Intra-Canada loads accounted for 28 percent of the February’s volume, TransCore said, with 42 percent originating in the energy-rich Western provinces.
The value of U.S.-Canada trade by truck increased 11.4 percent in 2011 to $330.7 billion, according to data from the Bureau of Transportation Statistics.
The Nulogx CGFI rose 0.8 percent in January from December, its 11th consecutive monthly increase. The CGFI is now 9.5 percent above February 2011.
The CGFI’s Base Rate Index, which excludes accessorial charges and fuel surcharges, rose 0.3 percent in January and is 3.8 percent higher than last February.
“Rising accessorial charges continue to be the primary driver of increasing freight costs for Canadian shippers,” said Doug Payne, president and COO of Nulogx.
Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc
