Old Dominion Freight Line will raise its base rates 4.9 percent Sept. 6, joining a growing field of less-than-truckload carriers in raising prices ahead of the fall shipping season but coming far lower than its competitors.
Unlike its competitors, North Carolina-based ODFL says won't hike non-contract rates across the board. Instead, the company will base price increases on length of haul. ODFL’s rate increase is lower than recent hikes made by LTL competitors FedEx Freight, 6.75 percent; and ABF Freight, Con-Way Freight and YRC, all 6.9 percent.
“The rate increase will also provide for a nominal increase in minimum charges in intrastate, interstate or cross border lanes,” said Todd Polen, the company’s vice president of pricing.