Con-way Freight announces general rate increases
Move marks third hike of non-contract prices by an LTL carrier in the past month.
Con-way Freight, the less-than-truckload (LTL) unit of Con-way Inc., late yesterday announced a 6.9-percent general rate increase to all U.S. and Canadian non-contractual shipments.
The increase takes effect July 9, Con-way Freight said in a statement. The increase affects shipments moving within the United States and within Canada, as well as cross-border shipments between the U.S., Puerto Rico, and Canada, the company said.
Con-way Freight becomes the third LTL carrier to impose a 6.9-percent rate increase on non-contractual traffic. FedEx Freight, the LTL unit of FedEx Corp., and ABF Freight System Inc. both increased their rates earlier this month.
Most, if not all, LTL carriers are expected to follow suit as carriers reap the benefits of a moderate pickup in demand and—what the carriers have touted as—a more rational pricing strategy that favors higher margins over increased market share.More articles by Mark B. Solomon
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