LTL carrier Central Transport International of Warren, MI, plans to institute a 5.67% general rate increase on February 23, primarily to cover costs associated with increased delays at the U.S.-Canadian border.
Central Transport vp-marketing Jovan Jovanovski said the LTL trucking segment experienced significant cost increases due to border-crossing delays, inspections of trailer contents and other requirements relating to heightened security. Insurance premiums also continued to increase dramatically, which is why the carrier is increasing its rates.
Rate increases will apply to all U.S. domestic and U.S.-Canadian international rates in Tariffs 555, 585 and 595 series. This will equate to a general rate increase of approximately 5.67% for U.S. customers. The company said that this percentage would vary somewhat regionally and according to freight characteristics.