Wednesday, June 27, 2012

Trucking Group YRC Freight Joins Rivals in Road Haulage Rate Hike

Big Four Have Now Announced Identical Tariff Rises This Month
Shipping News Feature

US – Trucking group YRC Freight joined its main road haulage competitors when it confirmed officially yesterday that it was instituting a general rate increase averaging 6.9%, matching several of its major rivals. In the past few weeks there has been an uncanny similarity between competitors following the ABF Freight System increases which took effect yesterday with FedEx Freight and Con-way Freight both increasing by an average of 6.9% and both taking effect on the same day as the YRC hike.

The YRC rate adjustments will also be charged from the 9thJuly and apply to minimum charges, LTL rates and accessorial charges where the carrier is not bound by an existing contract and will affect US, Mexican and Canadian shipments with the only exception being Canadian domestic traffic which is unaffected. ABF was the first of the LTL carriers in announcing their own 6.9% increase on the 11th June and the others have been quick to follow.

All the companies say that the extra revenue is to maintain standards by investing in new equipment and infrastructure. YRC in particular have had a troubled history of late, rebranding (again) in February but the company management has worked hard with its employees to maintain momentum.

For a history of the groups recent lows and highs check out the Guide Archive by typing YRC into the News Search box at the head of any page.