Rick Keeler, Senior Vice President of Pricing and Strategic Development and Jerry Neal, Director of National Account Pricing for Old Dominion Freight Line Inc., announced that the organization would be increasing its base rates effective Feb. 16.
“The general increase involves a restructure that provides for increases in our rates based on length of haul rather than the traditional across-the-board increases. The rate increase does not affect minimum charges in Intrastate, Interstate or cross border lanes. Although each customer will have a different financial impact based on the lanes and distance their shipments move, the overall impact of the increase is approximately 5.6 percent,” stated Keeler. “Smaller increases will be taken on Alaska, Hawaii, Puerto Rico, Caribbean, and Mexico.”
The tariffs affected by the Feb. 16 increase are the ODFL 559/555 and the 505 Canadian tariffs.
Keeler added, "The increase is necessary to offset higher costs as a result of new equipment, new service centers, state-of-the art technology, insurance costs as well as wages and benefits. We believe the increase is essential to continue to provide our customers with the value in technology and quality performance they have come to depend on."