Old Dominion announces 4.9 percent general rate increase

Old Dominion Freight Line announced this week a 4.9 percent general freight increase, scheduled to take effect Sept. 26.

Todd Polen, ODFL’s vice president of pricing, said the increase will affect the company’s class tariffs and is meant to help “offset the rising costs of new equipment, real estate, technology investments and competitive employee wage and benefit packages.”

The tariffs affected by the increase are the ODFL 559, 670 and 550 tariffs. Polen added the increase also allows for a nominal increase in minimum charges in intrastate, interstate and cross-border lanes.