FedEx Express to Increase Net Average Shipping Rates 3.5 Percent in 2007.MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn. -- FedEx Corp. (NYSE NYSE See: New York Stock Exchange : FDX See full-duplex. fdx - full-duplex ) will increase the net average shipping rate for FedEx Express FedEx Express, based in Memphis, Tennessee, USA, is the world's largest cargo airline. It is a subsidiary of the FedEx Corporation and delivers packages and freight to more than 220 countries each day[1]. by 3.5 percent, which is composed of a 5.5 percent average increase in standard list rates, offset by a 2.0 percentage point reduction in its fuel surcharge. The new rates will be effective Jan. 1, 2007 and apply to U.S. domestic and U.S. export express package and freight shipments. The fuel surcharge also now will be levied on some transportation-based surcharges such as Residential and Delivery Area surcharge for all domestic shipments and for those U.S. export and U.S. import FedEx Express shipments paid by U.S. payers. Additional changes will be made to other FedEx Express surcharges effective Jan. 1, 2007. The details of these surcharges will be available on fedex.com by Nov. 10, 2006. FedEx also will add a new dimensional weight Dimensional weight, used in shipping and freight, is a billing technique which takes into account the volume of a package. Significance Shipping costs have historically been calculated on the basis of gross weight in kilograms or pounds. system for oversized o·ver·size n. 1. A size that is larger than usual. 2. An oversize article or object. adj. o·ver·size also o·ver·sized Larger in size than usual or necessary. , large FedEx Ground FedEx Ground is a shipping company headquartered in Moon Township, Pennsylvania, a suburb of Pittsburgh. Originally a small regional package shipping company called Roadway Package System (RPS), it was created to be a discount competitor to UPS. shipments. If the dimensional weight is greater than the actual weight, dimensional weight will apply to FedEx Ground shipments that are three cubic feet (5,184 cubic inches) or greater. A FedEx Ground dimensional weight customer aid will be available on fedex.com to assist customers. This will be effective Feb. 5, 2007. FedEx Ground rates also will increase for 2007. These changes will be announced later this year. "These rate adjustments from FedEx Express and FedEx Ground allow us to enhance our operations and services so we can continue to deliver a superior customer experience," said T. Michael Glenn, FedEx executive vice president, Market Development and Corporate Communications. About FedEx FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $33 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brands. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 275,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit www.fedex.com. |
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