Less-than-truckload (LTL) carrier Old Dominion Freight Line Inc. said today it will impose a 4.9 percent general rate increase on tariff shipments, effective June 4.
The increase is Old Dominion's first tariff price hike since last August, when it raised rates by 3.5 percent. In recent years, the Thomasville, N.C.-based company has generally kept its tariff rate increases below those of its competitors. About 70 percent of its business comes from customers it has under contract.
The tariff rate adjustment also provides for a "nominal increase" in Old Dominion's minimum charges, the carrier said.
Old Dominion, considered by many the nation's most successful trucking company, has an unmatched reputation for the ability to price its services so that it maximizes its yield on every shipment.