The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Old Dominion Freight Line is the latest less-than-truckload carrier to announce an increase in rates for this year. Plus, SONAR data shows a freight market moving sideways, and Forward Air reaffirms its direction in spite of activist shareholder pressure.
Parade of rate increases
Following in the path of others, Old Dominion Freight Line (NASDAQ: ODFL) has issued a general rate increase, effective March 1.
Todd Maiden has a look at who else is raising rates: LTL carriers continue to issue general rate increases
Parsing the data
SONAR’s Outbound Tender Volume Index (OTVI) contracted slightly again last week, down 1.2% to 13,647. On a rejection-adjusted basis, volumes are up 19% year-over-year, a slight acceleration from last week’s 18% growth rate.
Seth Holm explores the latest SONAR data: Outbound tender volumes trending sideways for the past month
Staying the course
Following scrutiny from an activist investor group, Forward Air (NASDAQ: FWRD) doubled down on its approach to the business during its fourth-quarter call with analysts Friday.
Todd Maiden has more: Forward Air doubles down amid heightened interest from activists
HOS waiver extended
Federal regulators issued a fourth extension of a rare 50-state exemption of hours-of-service rules due to ongoing health risks caused by COVID-19.
John Gallagher has more on the extension: FMCSA extends national HOS waiver through May 31
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Did you miss this?
Truckload carrier C.R. England, the company that court records suggest paid out the greatest amount of money in the Louisiana staged-accident scandal, is fighting back with a lawsuit in federal court.
John Kingston has details on the case: C.R. England slaps attorneys for staged-accident participants in Louisiana with RICO suit
Hammer down, everyone,