Old Dominion announces general rate increase of 4.9%, effective December 4

Old Dominion Freight Line announced a general rate increase GRI of 4.9% applicable to rates established under the existing ODFL 559, 670, and 550 tariffs, effective December 4. Todd A. Polen, Old Dominion Freight Line’s Vice President – Pricing Services, commented, “In line with our economic forecast and expectations for the anticipated operating environment, OD is implementing a general rate increase to ensure the continued enhancement of our high-quality service network and systems. We remain committed to providing our premium value proposition of on-time, claims-free service at a fair price as well as exceeding customer expectations and delivering on their promises. This GRI, applicable to our class tariffs, aims to partially offset rising costs associated with new real estate and expansion projects, new equipment, technology investments, and competitive employee wage and benefit packages. The overall increase is anticipated to be approximately 4.9 %. While the GRI’s impact will vary based on individual shipment lanes and distances traveled, it aligns with our long-term yield management strategy. The GRI also includes nominal increases in minimum charges for intrastate, interstate, and cross-border lanes.”