FedEx unveils January 7 rate hike for US express shipments

FEDEX Corporation has announced plans to raise the net average shipping rate for FedEx Express by 4.9 per cent, which is composed of a 6.9 per cent increase in standard list rates, offset by a 2 per cent reduction in the fuel surcharge.

The new rates will be introduced from January 7 and will apply to US and US export express package and freight shipments.

 Rates and surcharges for FedEx Ground also will increase for 2008, the company said.

 "FedEx continues to provide market leading express services," said Michael Glenn, FedEx executive vice president, market development and corporate communications in a company statement. "These rate adjustments will allow FedEx to continue making the necessary investments in our business so we can continue to give our customers a superior shipping experience."

 In 2008, FedEx Express customers importing goods to the US will be required to pay US dollar rates. Increases in rates for shipments inbound to the US from certain international locations will also take effect January 7, a company statement added.