Overnite to Raise Rates in August

July 21, 2000 9:34 AM, EDT

Overnite Transportation announced late Friday a 5.5% rate increase on non-contractual shipments, effective Aug. 14. The move follows the lead of fellow carrier giants Yellow Freight System and Consolidated Freightways.

The increase applies to minimum charge, less-than-truckload and truckload rates. Overnite officials said the increase was part of the company’s annual adjustment.

In the past week, Yellow and CF announced rate increases, of 5.9% and 5.85% respectively, starting Aug. 1. During this week’s run of second quarter earnings reports, some carriers blamed the spike in diesel fuel prices for less than expected revenue.