FedEx Freight, Jevic, and the SMC3 group all announced rate increases this week.

The General Rate Committee of SMC3, which serves approximately 770 carrier and shipper members, approved an overall rate increase of 6.41%, to become effective on August 5, 2002.
"This increase is a matter of necessity for LTL carriers," Mark A. Levin, a trucking stock analyst for investment broker Davenport & Co., told SMC³. "Carriers who increase their rates are not going out on a limb - the increase will be replicated by others."
SMC3 cited drastically escalating costs, including insurance premiums, security measures, petroleum-related products, labor and other non-labor related expenses.
FedEx Freight will implement a 5.9 percent general rate increase effective July 22. The increase will cover the company's two independent operating units, FedEx Freight East and FedEx Freight West).
"This increase is necessary to support and improve our technology offerings, service centers, equipment, and safety and security programs," said Dennie C. Carey, FedEx Freight's senior vice president of marketing. "It will also be used to partially offset substantial increases in health care costs and insurance premiums in fiscal year 2003," said Carey. "In the last fiscal year we experienced double-digit increases in these categories. We expect substantial increases again in FY '03."