FedEx 2008 Ground Shipping Rates to Rise 4.9 Percent (Update2)

douglas9

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Sat Dec-01-07 05:45 AM
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FedEx 2008 Ground Shipping Rates to Rise 4.9 Percent (Update2)

Source: Bloomberg News

Nov. 30 (Bloomberg) -- FedEx Corp., the second-largest U.S. package shipping company, will increase 2008 rates for FedEx Ground and Home Delivery by an average of 4.9 percent.

The change, announced today by Memphis, Tennessee-based FedEx in a statement, matches the 2008 rate boosts planned by United Parcel Service Inc. and DHL Express, a unit of Germany's Deutsche Post AG. The FedEx rates take effect Jan. 7.

The ground rate increases at FedEx and UPS match those for 2007, which were the biggest since 1998. The identical increases among the carriers suggest they won't engage in a price war.

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FedEx said earlier it will boost prices at its FedEx Express air-shipping unit by 6.9 percent, while lowering the fuel surcharge 2 percentage points, for a net increase of 4.9 percent. UPS and DHL announced the same rate changes.

Read more: http://www.bloomberg.com/apps/news?pid=20601103&sid=aGCNKQK966dI&refer=us

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