YRC Freight plans to raise base rates 6.9 percent on average, matching rate increases announced by several competitors, YRC Worldwide CEO James Welch said Friday.
“Rates still aren’t where they need to be,” Welch said in an interview. “The industry as a whole needs to improve its returns so companies can recapitalize their fleets.”
FedEx Freight and Con-way Freight will take 6.9 percent general rate increases July 9 and ABF Freight System implemented a 6.9 percent increase June 25.
YRC’s regional carriers — Holland, New Penn Motor Express and Reddaway — may impose a slightly smaller GRI, in the 6.5 percent range, Welch said.
General rate increases only cover non-contract freight, typically a smaller portion of a less-than-truckload carrier’s overall business. But they send a signal. Full Story........
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