Less-than-truckload (LTL) carrier Old Dominion Freight Line Inc. said yesterday it raised its tariff, or noncontractual, rates by 4.3 percent, effective May 1.
Thomasville, N.C.-based Old Dominion, considered by most to be the best-run LTL carrier, had raised tariff rates by 4.9 percent in each of the last three years.
The latest increase puts Old Dominion at the lower end of the spectrum of rate increases. The lowest among major LTL carriers is FedEx Freight, the unit of FedEx Corp., which raised rates by 3.9 percent.
The increase affects about one-fourth of Old Dominion's overall book of business.