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Softer economy impacts LTL carriers different than truckload, industry executives say

January 23, 2023


Rough start to 2023 for dry bulk, tThe softness in the U.S. economy impacts truckload carriers more severely than their LTL brethren because truckload capacity is greater and there are fewer barriers to entry, industry executives said Monday.

At the same time, appearing on a panel at the SMC3 annual winter meeting in Atlanta, Todd Polen, vice president of pricing at LTL carrier Old Dominion Freight Line Inc. (NASDAQ: ODFL), said it would not be wise for carriers to impose multiple annual general rate increases (GRIs) — tariff rates that have tended to stick — because end industrial demand does not support that step.

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