Old Dominion Freight Line has announced a 4.9% general rate increase set to take effect Oct. 5, the Thomasville, North Carolina-based carrier said Monday. The adjustment applies to the company's existing 559 standard less-than-truckload tariff, its 670 cubic meter tariff, and its 550 fuel-related tariff, the same set of tariffs affected by the carrier's previous rate increase last fall.
Greg Lawrence, Old Dominion's vice president of pricing services, said the pricing change supports continued investment in the company's service network and technology systems as the carrier works to meet customer expectations. The increase also includes a modest bump to minimum charges across intrastate, interstate, and cross-border lanes, with the exact impact varying by shipper and lane.
The rate change follows a summer in which Old Dominion raised its projected 2026 capital spending by roughly $115 million, a 43% increase, bringing total planned capital expenditures for the year to about $380 million. The company has been directing funds toward real estate, equipment, technology, and employee wages and benefits.
Old Dominion is not the only major carrier adjusting prices this year. ArcBest implemented a 5.9% general rate increase for its ABF Freight unit on June 22, with executives telling investors in late July that the higher pricing was intended to preserve revenue quality and had been holding up well in the market.
Source: Trucking Dive -- https://www.truckingdive.com/news/old-dominion-announces-49-general-rate-increase/830871/