Less-than-truckload carrier Roadrunner announced Monday a blanket rate hike for the first time since 2021. A 6.9% general rate increase across multiple tariff codes will go into effect Wednesday.
The Downers Grove, Illinois-based company said the GRI will impact select lanes across its direct metro-to-metro long-haul network. The headline percentage increase is the expected average change to base rates and will affect customers differently depending on shipment distances.
Roadrunner (OTC: RRTS) also said it was implementing numerous accessorial charges in its Roadrunner 100 Rules Tariff.
The rate increases are in line with similar adjustments made by other carriers in recent months, and reflect the service enhancements Roadrunner has made to its network. As with other carriers, the rate actions are needed to address higher operating costs and to fund incremental service-related investments.
“After three years without an across-the-board rate adjustment, this increase is a necessary step to ensure we can continue to meet the evolving needs of our customers while delivering the highest levels of service and operational excellence,” said Thu Vu, director of pricing, in a news release. “As part of Roadrunner’s commitment to long-term, sustainable growth, this adjustment will enable us to enhance our capabilities, maintain industry-leading service levels, and continue investing in our award-winning network.”
ABF Freight, a subsidiary of ArcBest (NASDAQ: ARCB), implemented a 5.9% GRI on Sept. 9 as did FedEx Freight (NYSE: FDX) on Jan. 6. Saia’s (NASDAQ: SAIA) 7.9% GRI went into effect on Oct. 21, and Old Dominion Freight Line’s (NASDAQ: ODFL) 4.9% increase took hold Dec. 2.
Roadrunner sold a majority stake to Prospero Staff Capital, a private equity firm backed by Roadrunner CEO Chris Jamroz, in November. The deal included an undisclosed amount of fresh capital, which will be used to fund growth initiatives and acquisitions.
The investments will also allow it to continue to improve on-time delivery across its national network serving more than 40 major metro markets.
