September 16, 2019 / 8:55 PM / 3 months ago

FedEx to increase shipping rates across units in 2020

FILE PHOTO: A FedEx Office logo is pictured in Times Square in the Manhattan borough of New York, New York, U.S. April 2, 2017. REUTERS/Carlo Allegri

(Reuters) - U.S. package delivery company FedEx Corp (FDX.N) 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 (UPS.N) last month.

Reporting by Debroop Roy in Bengaluru; Editing by Shounak Dasgupta

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