Base rate increase likely to be first of many in LTL trucking market
FedEx Freight, the nation’s largest stand-alone less-than-truckload carrier, is first out of the gate to raise pricing this summer with a 6.9 percent rate hike to take effect on July 9.
The industrial freight arm of FedEx also will adjust absolute minimum charges and accessorial rates and charges, but said its fuel surcharge will remain unchanged. The general rate increase only affects base tariff rates, not contract rates negotiated with individual shippers, and comes as carriers say higher rates are needed.
LTL and truckload carriers at recent shipping events said higher operating costs, especially for labor and equipment, make higher rates and cost-cutting necessary.
The 6.9 percent rate increase also matches GRIs issued by most publicly owned LTL carriers last summer, though it’s higher than most GRIs in previous years.
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