FAF Announces Rate Increase for Independent Contractors

Forward Air Corporation (NASDAQ:FWRD) has announced that its wholly owned subsidiary, FAF, Inc., is increasing rates for its independent contractor owner-operators, effective October 1, 2017, the company said.

Under the new rate package, FAF owner-operators providing services to the Corporation´s Truckload Premium Services segment (“TLS”) will receive a ten cent per loaded mile increase, while FAF owner-operators providing services to the Corporation´s Expedited LTL segment will receive a three cent per loaded mile increase.

FAF also offers additional incentives to its owner-operators, including but not limited to, incentives for length of service, new equipment and license endorsements.

Forward Air keeps your business moving forward by providing services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Premium Services (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region).