Old Dominion increases LTL rates
Carrier pushes increase in line with competitors
By Dave Hannon -- Purchasing, 1/30/2008 4:30:00 PM
Less-than-truckload carrier Old Dominion Freight Line announced it will increase its base rates 5.4% on average, effective February 11. That’s a larger increase than the LTL carrier issued last year, which was 5.1%, but it is in line with the rate increases issued by other LTL carriers recently. In January UPS Freight issued a 5.4% rate increase and in December, FedEx Freight issued a 5.48% increase.
Other major LTL carriers, Con-way and YRC, have recently issued less-than-stellar fourth-quarter financial results with YRC reporting a fourth-quarter loss. In a statement, YRC President and CEO Bill Zollars said, "Looking forward, we expect the first quarter to also be difficult given it is seasonally the softest and we don't anticipate the economy improving in the near term. As the largest less-than- truckload provider, we are well positioned to benefit from economic recovery, when it occurs."
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