Con-way Freight to Up Rates
Con-way Freight, the nationwide less-than-truckload carrier of Con-way Inc., announced it will implement a general rate increase averaging 4.9% for noncontractual business, effective Oct. 19.
It will affect general LTL rates, minimum charges, accessorial and other supplemental fees applicable to LTL shipments moving within the United States and Canada, cross-border shipments moving among the United States, Puerto Rico and Canada, and the domestic U.S. portion of shipments into Mexico, the carrier said in a release.
Con-way ranks No. 4 on the Transport Topics Top 100 list of the largest for-hire carriers in the United States and Canada. In September, XPO Logistics Inc. took a leap into the LTL market and agreed to purchase Con-way for $3 billion, the highest price ever paid for a U.S. trucking company.
Con-way said in the release the rate increase is intended to help offset rising costs of doing business, which include contending with the nationwide shortage of qualified truck drivers, increased regulatory compliance, higher fleet operations and revenue equipment costs, and technology upgrades that enable the company’s premium service product.
Last month, Fedex Freight, the LTL operation of FedEx Corp., announced it will increase base rates by 4.9% as of Jan. 4.
