Less-than-truckload carrier Old Dominion Freight Line will increase its base rates by an average of 4.3%, effective May 1.
The general increase will also provide for a nominal increase in minimum charges in intrastate, interstate or cross border lanes, according to the North Carolina-based company
“Our customers are asking for more capacity, and more value added products and services. In order to meet that demand and deliver on the promises we have made to our customers, we must continue to build our network and systems,” the company said. “Therefore, this increase is necessary to offset the rising cost of new equipment, escalating insurance costs, securing new service center capacity, continuing to develop state-of-the art technology, and providing for competitive wages and benefits.”
The move by ODLF follows the nation’s six largest LTL carriers; FedEx Freight, UPS Freight, YRC Freight, ABF Freight System, Con-way Freight and Saia, announcing rate hikes earlier this year.