UPS Freight issues 5.4% LTL rate increase
LTL carrier says increase to go into effect Feb. 4.
By Dave Hannon -- Purchasing, 1/11/2008 3:52:00 PM
UPS Freight, the logistics giant’s less-than-truckload business, has issued a 5.4% rate increase to go into effect Feb. 4. The moves comes at a time when market analysts are reporting declining demand for trucking services and shippers are reporting increased leverage in negotiations.
While the move is in line with the December move by FedEx Corp.’s FedEx Freight LTL unit which announced a 5.48% general rate increase effective Jan. 14. But it may not be in line with what the market is willing to endure. (See Analysts say trucking rates will stay low). Freight buyers tell Purchasing.com that LTL carriers are more flexible now on rates and surcharges due to declining demand and increased competition in the LTL market specifically.
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