FedEx Express package and freight standard list rates for U.S., U.S. export and U.S. import services, and FedEx Ground standard list rates will increase an average of 5.9% as of Jan. 1. The Sept. 7 release of the General Rate Increase marks the earliest announcement in company history. While it’s impossible to analyze every 2024 change, here are some important takeaways for shippers to note and assess.
Days before its third quarter earnings report, UPS matched rival FedEx by announcing a general rate increase of 6.9% for 2023, an unprecedented figure for both major carriers set as a benchmark for pricing shipper contract rates. FedEx took heat last month in announcing its rate increase last month, as it reported a painful quarter.
With the new year underway, you may be feeling the burden of the latest round of carrier rate and surcharge increases hitting parcel costs. In order to understand and mitigate their business impact, you need to arm yourself with information. How can you measure the net impact of these changes? It all starts with good, accurate data.
Less than three weeks before the new prices take effect the day after Christmas, UPS announced its 2019 rate schedule, including an overall increase of 4.9% for its ground, air and international services, leaving shippers scrambling to adapt at the busiest time of year. See what charges went up and what it means.
FedEx announced a 4.9% general rate increase (GRI), matching increases from both itself and UPS in recent years. As each carrier will target different increases in their rates between services, weights and zones to net the overall average increase, here’s a deep dive look at how the FedEx GRI breaks down among its shipping services.
Effective December 28, UPS Ground rates and accessorial charges will increase by an average net 4.9%, and UPS Air and International services and accessorials, including UPS Air Freight rates within and between the U.S., Canada and Puerto Rico, will increase an average net 5.2%.