ABF Freight System Raising Rates Next Month

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BF Freight System Inc., the less-than-truckload unit of Arkansas Best Corp., said Wednesday it would raise its general freight rates on June 14.

The company said in a statement in most cases, rates would increase by 5.9%, but the exact amount would vary by lane and shipments.

Last month, rate bureau SMC3 recommended a 6.1% increase in general tariff rates for its 125 less-than-truckload carrier members to take effect June 7.

Arkansas Best is ranked No. 16 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. The company reported a net income for the first quarter of $4.5 million or 18 cents per share.

The company said in its earnings statement that ABF had become more active in the spot market for freight in an effort to increase capacity utilization and offset seasonally soft business levels.