SMC³, Peachtree City, Ga., an LTL technology provider and rate bureau, announced its General Rate Committee has approved a 4.7% rate increase.
The increase is effective May 2, 2005.
At a public meeting on March 1, SMC³ presented the results of economic data collected from its carrier members and other sources. Following an open discussion, a motion was adopted to docket a proposal for increased rates and charges in all SMC³ tariffs applying to interstate and/or foreign commerce. After the public meeting, a hearing was held in Atlanta before carriers, shippers and other members of the transportation community. At that time the proposed increase was reduced to 4.7%.
GRC members at the hearing said higher costs for insurance, labor and security were key factors contributing to the rate increase. Other comments concerned legislative regulations such as the 2007 engine emissions requirements and changes to the way individual states handle toll increases. While fuel costs are also a burden to carriers, these costs were not considered at the hearing because they are addressed in a surcharge.
For more information, visit www.smc3.com.

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