Loadlink reported strong load posting growth in August, buoyed in part by the short-lived rail strike and fears over supply chain disruptions, reports James Menzies in Trucknews.com.
Spot market rates in the U.S. remained weak in the most recent week, as did trailer orders.
Meanwhile, with trailer makers expected to soon open 2024 order books, analysts are watching closely to see if buyers will come back or instead direct limited cap-ex budgets to power units ahead of EPA27 emissions standards.
Trailer orders in August came in at 6,661 units according to FTR, which was down 30% year over year, but a 17% improvement from July numbers. FTR indicated it was the fifth weakest order month in the past four years, while cancellations remained above 30% as a percentage of total gross orders for the fourth straight month.
FTR blames stagnant freight fundamentals for the lack of new orders and notes manufacturers have trimmed production to levels 30%, lower than the average August build rate.
Loadlink, meanwhile, reports that August showed a big spike in spot market load postings, in part due to the short-lived rail strike and fears of related supply chain disruptions.
Posted loads jumped 32% year over year in August, while equipment postings were down 20% against year-ago levels. Cross-border load growth led the way, accounting for 59% of all loads.
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“August 2024 was a very successful month for the Canadian freight industry due to record-breaking volumes and strong cross-border trade,” Loadlink noted. “We do expect to see a ramp up in the following months leading into the holiday season.”
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