Old Dominion Boosting Rates an Average 4.4%
Old Dominion Freight Line said it will boost its base rates later this month by an average 4.4% in order to offset higher costs.
The tariffs affected by the Jan. 18 increase are the ODFL 559/555 and the 505 Canadian tariffs, the less-than-truckload carrier said late Friday.
The increase is necessary to offset higher costs as a result of new equipment, new service centers, technology, insurance and wages and benefits, Rick Keeler, ODFL’s senior vice president of pricing and strategic development, said in a statement.
“Although each customer will have a different financial impact based on the lanes and distance their shipments move, the overall impact of the increase is approximately 4.4%,” Keeler said, adding that additional increases will be taken on Alaska, Hawaii, Puerto Rico, the Caribbean and Mexico.
ODFL is ranked No. 20 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
