Old Dominion Freight Line intends to raise rates by 4.9%.

Old Dominion Freight Line will implement a 4.9% general rate increase effective November 3, 2023, to help offset rising costs such as real estate, new equipment, and employee wages. This adjustment affects their existing tariffs and will vary by lane. It marks the company's first increase since December and comes amid favorable operating conditions, with recent reductions in diesel prices. Despite current soft market conditions, projections suggest minimal impact from such increases on shippers over the next year.