FedEx to increase shipping rates across units in 2020
(Reuters) - U.S. package delivery company FedEx Corp (NYSE: FDX) said on Monday shipping rates at its express unit, which delivers packages using planes, will increase by an average of 4.9% for domestic, export and import services starting Jan. 6 next year.
There will be a similar increase for its ground and home delivery units as well, the company said in a statement.
Shipping rates at FedEx's freight unit will increase by an average of 5.9% for shipments within the U.S. and between U.S. and Canada.
The company said it would not apply additional residential surcharges during the holiday season, except for certain shipments, following a similar move by rival United Parcel Service Inc (NYSE: UPS) last month.
(Reporting by Debroop Roy in Bengaluru; Editing by Shounak Dasgupta)