The rates will climb 4.9% and are formulated by the carrier as a 6.9% boost in standard list rates with a 2% reduction in fuel surcharges. Rates for US-inbound from a number of countries will also go into effect on January 7. In order to provide a consolidated set of US import rates, those customers importing freight into the country will pay US dollar rates. The hope is they will be able to avoid the uncertainties associated with fluctuations in currency rates.
Stay tuned since FedEx Ground rates and surcharges will also be increased for 2008, although percentages have not yet been announced. To keep current on the rates, visit www.fedex.com/us/rates2008.
In commenting on the rate increases T. Michael Glenn, FedEx executive vice president, Market Development and Corporate Communications, said, "FedEx continues to provide market leading express services. 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."
Overall FedEx Corp. has been enjoying good revenues. Its most recent quarterly report showed revenues of $9.20 billion, up 8.0% from last year’s $8.55 billion. Net income, as well, was up 4% from last year’s $475 million, at $494 million.