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Old Dominion Freight Line posts 12pc volume growth in Feb
NORTH Carolina's Old Dominion Freight Line, a less-than-truckload (LTL) motor carrier providing national service, has reported an 11.7 per cent increase in its LTL tons per day for February compared with the same month a year earlier.
The result followed year-on-year growth of 10.1 per cent in January.
Based on these results and its outlook for March, the company has raised its expectations for growth in the first quarter in terms of LTL tons per day to a range of 11 per cent to 11.5 per cent from the previously reported range of ten to 11 per cent over the prior-year comparable quarter.
The company also affirmed its expectations for growth in LTL revenue per hundredweight, excluding fuel surcharges, to be in the range of two per cent to 2.5 per cent for the first quarter of 2014, a company statement said.
President and chief executive officer David Congdon said, "Old Dominion has continued to produce double-digit growth in LTL tons per day in a period of weak economic growth and significant adverse weather conditions, primarily through on-going gains in market share.
"We believe the combination of substantial growth in tons with sustained yield improvement demonstrates the demand for our value proposition of superior service at a fair and equitable price."
The result followed year-on-year growth of 10.1 per cent in January.
Based on these results and its outlook for March, the company has raised its expectations for growth in the first quarter in terms of LTL tons per day to a range of 11 per cent to 11.5 per cent from the previously reported range of ten to 11 per cent over the prior-year comparable quarter.
The company also affirmed its expectations for growth in LTL revenue per hundredweight, excluding fuel surcharges, to be in the range of two per cent to 2.5 per cent for the first quarter of 2014, a company statement said.
President and chief executive officer David Congdon said, "Old Dominion has continued to produce double-digit growth in LTL tons per day in a period of weak economic growth and significant adverse weather conditions, primarily through on-going gains in market share.
"We believe the combination of substantial growth in tons with sustained yield improvement demonstrates the demand for our value proposition of superior service at a fair and equitable price."
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