Inflated shipping charges will soon be upon us despite the slowed economy. Package delivery company FedEx Corp is adamant about having its employees make safety and efficient delivery their top priorities. Now employees are being told to also make shipping rate changes a major priority in the coming weeks.
FedEx Freight, a subsidiary of Memphis-based FedEx Corp., announced Friday that a 6.9 percent shipping rate increase will take place starting from July 9. This change applied to areas within the United States and Canada. Shipping beyond these points, such as shipment between the U.S and Mexico, will see similar increases, but for only the U.S part of the shipping.
According to FedEx Frieght, the increase in rates also applies to shipping covered by series based rates such as FXF 1000 and FXF 501.
Some other changes that the company will apply are absolute minimum charges and accessorial rates and fees. One component about FedEx Freight that will not face a change is the FedEx Freight fuel charge.
The changed rates and information will be available for employees and customers to reference at the company's website on July 9.
Similar changes to shipping rates occurred on Jan. 2. Rate increases were applied to both FedEx Express and FedEx Ground.
The company provides customers with various business services, e-commerce options, and package transportation services.
FedEx's shares rose by 0.78 percent to $86.77 on Friday. Throughout the year, the company's shares have increased by close to 3 percent.
