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Shipping News UPS Set to Increase Rates
November 8, 2002
UPS announced on November 8, 2002, that they will be increasing their shipping rates in early 2003. This increase is similar in scope and time as it was in the past. Usually the rate increases took effect in early February, but this year UPS moved up the rate increase by a month. The new rates for shipping will take effect on Jan. 6, 2003. UPS will be increasing rates on just about all their services, including a 3.2 percent increase on UPS Next Day Air® shipments and a 2.9 percent increase on UPS Worldwide Express® shipments. Rates for UPS' U.S. commercial ground services, which is their largest service utilized by businesses, will increase 3.9 percent with the residential surcharge changing from $1.10 to $1.15. UPS also applies an index-based fuel surcharge to its shipments that is adjusted monthly. Within the next three to four weeks, look for FedEx to announce similar rate increases for FedEx® Express and FedEx® Ground shipments for 2003. Historically, FedEx Ground (formerly RPS) has closely matched UPS' ground rate increase. The matching of the rate increases and the overall rates by FedEx makes for an easy comparison on costs and service between the two parcel giants. The 2003 UPS rates will be available on UPS' Web site www.UPS.com, or by calling 1-800-PICKUPS, on Dec. 6, 2002. |
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