Forward Air will raise its rates 5.9% on shipments beginning Feb. 5, the carrier announced last week.
The Greeneville, Tennessee-based carrier said the general rate increase is necessary to raise additional capital to improve service as well as accommodate economic inflation and increased costs in real estate, equipment and cost per mile. The increase matches its 5.9% 2023 rate hike implemented on Feb. 6 but lower than its 2022 general rate increase of 7.9%.
The action by Forward Air follows previously announced rate increases by other carriers.
FedEx Freight announced a rate increase of between 5.9% and 6.9%, effective Jan. 1.
Old Dominion Freight Line raised rates twice this year. A 4.9% increase happened in January, which was followed by another 4.9% increase, which became effective Dec. 4.
Saia LTL Freight in October announced it would implement a general rate increase by an average of 7.5%, which took effect Dec. 4.
