The following carriers have issued rate increases:
- UPS announced a +5.4% GRI which is effective today February 22nd
- FedEx GRI ranges from +4.9-5.9%
- YRC Worldwide +5.9% beginning of February
- Saia +5.9% effective back in January
- ArcBest announced a +5.95% that went effective on January 25th
- Forward Air +6% in February
- Old Dominion +4.9% effective March 1st
- Estes Express Lines +4.6% at the start of February
Most carriers use annual GRIs for noncontractual freight to cover expenses such as driver recruitment, driver and dockworker pay increases, equipment upgrades, and inflation. Fuel costs have been rising as well however the fuel surcharge is broken out separately due to its volatile nature.
If you would like TLI to aid you in exploring how to get your LTL program protected in a strategic custom contract please email the TLI sales team at: firstname.lastname@example.org
Similarly on the truckload front we are seeing demand and rates rise as the temperature fell. Rates had stabilized in January and February, however spot rates have again moved higher as shippers and carriers tackle the Winter Storms Uri & Viola.
- Spot Loads have increased +15.6% week/week
- Spot Truck Posts (trucks available) have decreased -3.4% week/week
- Dry Van Load to Truck ratio climbed +29.1% week/week
- Van Spot rates rose +2% week/week