New Penn Announces General Rate IncreaseFebruary 13, 2018 Technology
Lebanon, Pa., February 13, 2018
We value our customer’s trust and work constantly to maintain the reliable services across our broad portfolio of transportation options. To continue operating at these high standards, it is occasionally necessary to increase our rates.
Effective February 19, 2018, New Penn will take a general rate increase (GRI) of 5.9 percent on non-contractual base rates for shipments in the United States, Canada, and Puerto Rico.
This general rate increase is necessary to offset the economic impact of rising expenses across the transportation industry and support the on-going improvements to our services. We continue to invest in several key areas that keep our network performing at the level you deserve:
- Capacity – The LTL market continues to grow and capacity is tight across the industry. Our investments in capacity are necessary to grow with the needs of our customers and provide consistent service.
- Driver hiring and training – New Penn is investing more to attract quality drivers, and is committed to actively recruit and train new drivers.
- Regulatory Compliance – New Electronic Logging Device requirements went into effect in December of 2017. Along with Hours of Service rules, these regulations are expected to significantly affect capacity across the industry by as much as 10%.
- New Equipment – New Penn has invested in new equipment, including 80 new trailers in 2017, resulting in 25% of New Penn’s fleet will be three years old or newer.
- Service – Our investments in technology and capacity will improve our service offering for customers.
- New equipment and increased driver hiring will relieve congestion in our network. This will result in a more consistent, reliable experience for customers.
- We continue to invest in safety technology, as well as logistics planning and route optimization solutions that will increase capacity, efficiency, and service. New customer service systems will reduce hold times and provide increased self-service options.
At New Penn, our goal is to provide top-level service every time we handle a shipment for you.
Please contact your New Penn Account Executive if you have any questions about the new rates or how to obtain them for your internal rating systems. The new rates will be available for download on 2/19/18.
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