trucks per load in August 2026, versus 4.20 in August 2025
Canadian spot market, LoadlinkMarket brief · October 2026
Quebec transport: the market has turned.
Rates, capacity and transactions: what carrier owners need to know.
01
The market: capacity is tightening, rates are rising.
Canadian spot volumes in August 2026, year over year
LoadlinkCanada to US loads, August 2026 year over year
LoadlinkAverage US spot rate, US$ per mile
September 2025June 2026
Source: DAT Freight & Analytics, national averages.
A supply driven recovery
After the 2023 to 2025 trough, carriers left the market. Available capacity fell and pricing power is shifting back to the carriers that remain.
CTOA, Q3 2026 report
02
Typical transactions.
- About 850 freight transactions in North America since 2020, including 121 in Canada and 21 in Quebec.
- Buyers: about 78% strategic, 22% private equity and family offices.
- Specialized transport (flatbed, oversize, bulk, reefer): about 30 transactions per year.
| Buyer | Quebec company | Year |
|---|---|---|
| Canada Cartage | Laurentien Transport | 2022 |
| Express Mondor | W.J. Deans | 2022 |
| TFI International | Axsun | 2023 |
| Canada Cartage | The GTI Group | 2023 |
| Manitoulin | Martin Roy Transport | 2025 |
Source: Tribal Capital transaction database, 2020 to 2026; public announcements.
03
A deal recovery in sight.
- Globally, 274 transport and logistics transactions in Q1 2026, up 9.6% year over year, including 85 in North America.
- In Quebec, the business transfer rate in transport and warehousing is up 41% since 2015.
- Nearly six in ten owners in Quebec have no succession plan.
Our view
Rising rates improve carrier results, and better results support value. For an owner, this is the time to weigh the options: fund growth, prepare succession or acquire.
What buyers look at
Contracted revenue, specialized equipment, driver retention, fleet age and customer diversity.
Sources: R.L. Hulett and PitchBook, Q1 2026; Repreneuriat Québec and Desjardins, 2026.
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