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The Daily
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Announcement
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Old Dominion accelerates 4.9% rate hike as LTL pricing power holds
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4.9%
Old Dominion’s GRI, effective Oct. 5
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7.1%
Saia’s GRI on July 6, the largest of this cycle
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54.6
Manufacturing PMI in August, 8th straight month of expansion
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Old Dominion Freight Line is pulling its next rate increase forward again, the latest sign that less-than-truckload carriers aren’t waiting for soft freight conditions to catch up with them.
The carrier’s 4.9% general rate increase takes effect Oct. 5, applied across various tariff codes — the same size hike as last year, but implemented roughly a month earlier, according to Todd Maiden’s reporting. Greg Lawrence, Old Dominion’s vice president of pricing services, said the timing reflects continued investment in network strength and efficiency needed to meet the commitments the carrier makes to customers.
Old Dominion isn’t alone in moving up the calendar. ArcBest implemented a 5.9% GRI on June 22, about six weeks ahead of its usual one-year cadence. Saia moved even faster, deploying a 7.1% increase on July 6 — 120 basis points higher and three months earlier than the year before. All three carriers are leaning into pricing power while the Manufacturing PMI holds in expansion territory for an eighth straight month, at 54.6 in August with new orders at 53.7, even as carriers manage rising real estate, equipment and wage costs.
Shippers negotiating LTL contracts into the fourth quarter are working against a market where three of the sector’s largest carriers all felt comfortable raising prices ahead of schedule — a sign LTL pricing still has room to run before demand softens enough to slow it down.
Diesel benchmark hits record even as futures point to relief
The DOE/EIA benchmark diesel price jumped 24.4 cents to a record $6.529 a gallon this week, effective Monday and published Tuesday, according to John Kingston’s reporting. The benchmark has climbed $1.951 a gallon since a $4.578 reading on July 6. But the futures market is telling a different story: ULSD on the CME fell 37.25 cents from its Sept. 15 record high of $5.262 to settle Monday at $4.8895, then slid another 9.56 cents to $4.7939 by 9:25 a.m. Tuesday. U.S. ULSD exports have risen to an average 1.566 million barrels a day since the Iran conflict began, up from 1.267 million b/d a year earlier. "For the first time since the start of the Iran conflict, we don’t have a baseline view," J.P. Morgan’s commodities team said. Arne Lohmann Rasmussen of A/S Global Risk Management said "the worst pressure on crude may be easing," citing Saudi pipeline repairs and higher Hormuz flow estimates. Louisiana Gov. Jeff Landry has proposed a 90-day diesel export ban; Dallas Fed economist Garrett Golding warned that curbing exports would ultimately cut refinery output and push gasoline and jet fuel prices higher.
The benchmark price carriers pay is still catching up to a spike futures markets are already unwinding — if the futures move holds, relief at the pump could arrive within weeks even as this week’s benchmark reads like the worst of the crisis.
Super Ego’s Mimic wins partial dismissal as settlement talks advance
A federal judge dismissed several counts against Aleksandar Mimic, chief of trucking company Super Ego, in a lawsuit drivers first filed in 2022 over the company’s lease-purchase program. Judge Martha Pacold of the U.S. District Court for the Northern District of Illinois tossed four counts without prejudice, meaning drivers can refile them, while dismissing a Truth in Leasing Act count with prejudice, according to John Kingston’s reporting. The dismissal came a day after an all-day settlement conference; court filings note "significant progress toward settlement, although work remains." The case against nine other defendants — including Super Ego Holding, Floyd Inc., Kordun Express and Rocket Expediting, described in filings as an affiliated network of carriers, leasing companies and holding companies — remains active. Drivers allege the lease-purchase structure was designed to lure them to the company’s Illinois headquarters using their own money, with claims spanning breach of contract, fraud, civil conspiracy and wage-law violations.
The settlement progress noted in court filings suggests Super Ego may resolve its own exposure before trial, but the case against nine other affiliated entities keeps the broader lease-purchase model under scrutiny.
16 trucking companies file for bankruptcy in under a month
At least 16 trucking, delivery and transportation companies filed for bankruptcy between late August and Sept. 21, spanning Texas, Illinois, Florida, Arizona, Louisiana, Kansas and California, according to Noi Mahoney’s reporting. The filings cut across general freight, last-mile, agricultural and specialized hauling, and range from single-truck owner-operators to fleets that once ran more than 100 power units. Chapter 11 filings include Globemaster Inc. of Bolingbrook, Illinois, with 51 power units and $1 million to $10 million in liabilities; Xoco Transport of Hidalgo, Texas, with more than 40 tractors and 65 drivers; and CLJ Transporting, an Amazon Delivery Service Partner in Auburndale, Florida, running 18 trucks and 30 drivers. Truckload LLC, operating as Expedite Express, once ran 114 power units and faces authority suspension Sept. 30. Pacer Transport of Arnaudville, Louisiana, listed less than $50,000 in assets against $1 million to $10 million in liabilities, the widest gap among the filings. Several smaller carriers, including single-truck operations in Texas and California, filed Chapter 7 liquidations.
Sixteen filings in under a month, spanning fleets from one truck to more than 100, shows the financial strain from high operating costs and thin freight margins isn’t confined to small owner-operators anymore — it’s reaching carriers with real scale.
PrePass, Kodiak link driverless trucks to weigh station bypass
PrePass and Kodiak AI launched a system routing safety inspection records from autonomous trucks directly into state roadside enforcement, starting Sept. 21 in Texas and Louisiana, according to Thomas Wasson’s reporting. The system feeds CVSA Enhanced Inspection clearances through PrePass’s 581-site weigh station network, letting state enforcement personnel verify and authorize bypasses for driverless trucks with no one in the cab. Kodiak, which trades as Nasdaq: KDK, plans to launch full driverless commercial operations on public highways by the end of 2026; its customer list includes Werner Enterprises, C.R. England, Roehl Transport, Atlas Energy Solutions, Bridgestone, General Dynamics Land Systems and IKEA. "The next barrier to scaling driverless trucking isn’t inside the truck. It’s the infrastructure around it," said Chas Wurster, PrePass’s chief technology officer. Kodiak founder and CEO Don Burnette said launching driverless service "requires building a solution that works in the real world."
Weigh station infrastructure has been one of the quieter obstacles to driverless scale — clearing it in two states gives Kodiak a concrete marker to point to as it races toward its full-driverless deadline.
Brought to you by Samsara — built with operators, for operators. Blind spots cause some of fleets’ costliest, most complex collisions. Learn how AI-powered 360-degree visibility helps you spot risks in real time and protect drivers, pedestrians and cyclists.
| Time | Guest | Topic |
|---|---|---|
| 12pm | Andy Sharpe | Founder & CEO, MeshVI |
| 12:30pm | Corey Klujsza | VP of Pricing and Procurement Strategy, RXO |
| 1pm | John Kingston | FreightWaves Editor at Large |
| 1:30pm | Sean Dehan | Chief Operating & Strategy Officer, Truckstop |
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Diesel Supply Down 8%: What Trucking Faces NextFreightWaves breaks down what an 8% drop in diesel supply means for fuel costs and capacity as carriers head into the fourth quarter. |
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Yard Automation Is Here — What’s Blocking Adoption?A look at why yard automation technology is available but still slow to spread across trucking operations. |
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Site Selection Shift: Cost Is Out, Resilience Is InFreightWaves examines how supply chain site selection criteria are shifting from lowest cost toward network resilience. |
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Whether more LTL carriers move up their rate hikesOld Dominion, ArcBest and Saia have all pulled their general rate increases earlier this cycle. Watch whether the rest of the LTL sector follows while the Manufacturing PMI keeps expanding. |
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Whether diesel futures relief reaches the pumpULSD futures have fallen more than 37 cents from their Sept. 15 record even as this week’s DOE/EIA benchmark hit a new high. Watch whether that futures move shows up in retail diesel prices in the coming weeks. |
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Whether the Super Ego settlement closes before trialCourt filings cite "significant progress" after an all-day settlement conference, even as the case against nine other affiliated entities stays active. Watch whether a deal resolves Mimic’s exposure fully. |
