American Shipper

FedEx announces 2008 rate hikes

FedEx announces 2008 rate hikes

FedEx Corp. said Friday its Express unit will increase the average shipping rate 4.9 percent, based on a 6.9 percent standard rate increase minus a 2 percent reduction in fuel surcharge.

   The new rates will go into effect Jan. 7 and apply to domestic and export express package and freight shipments.

   Memphis, Tenn.-based FedEx said it will announce rate increases for its Ground package unit in the near future.

   FedEx Express is also introducing U.S. dollar rates for domestic customers importing international goods to eliminate the uncertainty caused by currency fluctuations and make rates more clear.

   Package carriers normally announce rate increases at this time of year for the upcoming season. FedEx Express this year raised its net average rate 3.5 percent and FedEx Ground shipments rose 4.9 percent.

The FREIGHTWAVES TOP 500 For-Hire Carriers list includes FedEx (No. 1).