he 4.7% increase is based on climbing costs for carriers. “The sole purpose of this general rate increase,” says Jack E. Middleton, president and CEO of SMC3, “as always, is for the carriers to more nearly meet their revenue needs so they can work toward a healthy operating ratio and attract capital.” Economic data examined at the GRC meeting had been collected from SMC3 carrier members, the Less Than Truckload (LTL) industry and a variety of other sources.
As outlined by those speaking at SMC3 public hearings, major challenges facing carriers include increasing insurance rates, needing to meet labor and security requirements. Additionally, due to governmental regulations, conversions are necessary to meet tough 2007 engine emissions requirements.
SMC3’s summer meeting, “Intermodal. International. Interdependence Transportation’s Collaborative Future,” will examine how the economics of transportation are changing the business-to-business relationship. It will be held in Savannah, June 22-24. For details on the meeting or for more information, visit the web site, www.smc3.com, phone 800-845-8090 or e-mail, [email protected].