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)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• FedEx (FDX) PT Lowered to $425 at Barclays
• Zuckerberg says Meta made 'mistakes' in AI workforce shift
• South African president seeks to stop impeachment probe over 'Farmgate' scandal