Con-way Freight will raise its less-than-truckload base rates 5.9 percent on average June 24, along with minimum charges and accessorial fees. The second-largest LTL carrier followed ABF Freight System, UPS Freight and market leader FedEx Freight, all of which announced general rate increases in recent weeks.
Like Con-way, ABF, the sixth-largest LTL carrier, and UPS Freight, the fourth-largest, have already raised base rates 5.9 percent on average. FedEx Freight, the largest LTL carrier ranked by revenue, will raise rates by an average 4.5 percent July 1.
Although Con-way's rate hikes will average 5.9 percent, actual increases will vary depending on geography, lane, product classification, weight and dimensions, the company said. Shippers will be able to view the new rates after June 24 on the freight tools and pricing section of the Con-way Web site.
Con-way Freight is the LTL division of logistics and trucking giant Con-way, at $3.9 billion the fifth-largest company on the Journal of Commerce/SJ Consulting list of the Top 50 Trucking Companies in the U.S.