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LTL carriers continue to issue general rate increases

Old Dominion announces a 4.9% GRI for March 1

Less-than-truckload carrier Old Dominion Freight Line (NASDAQ: ODFL) announced a 4.9% general rate increase Monday for freight carried under various general tariff codes. The increase will be effective March 1.

The rate bump follows similar announcements from LTL carriers in recent weeks. The majority of the increases are in the 5% to 6% range, likely indicative of tightening LTL capacity and a rate-disciplined environment.

Saia’s (NASDAQ: SAIA) 5.9% rate increase began on Jan. 18 and logistics provider ArcBest (NASDAQ: ARCB) installed a 5.95% GRI for LTL services starting Jan. 25.

Yellow, formerly YRC Worldwide (NASDAQ: YELL), implemented a 5.9% increase at the beginning of February. Asset-light LTL provider Forward Air (NASDAQ: FWRD) installed a 6% GRI at the same time.

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