Come May 1, less-than-truckload carrier Old Dominion Freight Line will increase its base rates by an average of 4.3 percent, the company announced.
"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 stated.
The increase is necessary to make up for the rising cost of equipment, insurance costs as well as securing new service center capacity, continuing to develop state-of-the art technology, and to pay employees competitive wages and benefits.
The general increase will also cover a small increase in minimum charges in intrastate, interstate or cross border lanes.
The move by Old Dominion follows the six largest U.S. LTL carriers: FedEx Freight, UPS Freight, YRC Freight, ABF Freight System, Con-way Freight and Saia, which announced rate increases earlier this year.
