FedEx Corp. to Raise Rates in 2003

FedEx Corp. said Wednesday that it was preparing to raise its rates in 2003 by as much as 3.9%.

The Memphis-based package delivery carrier said that rates at its FedEx Express unit will jump as much as 3.5%. Several surcharges at the division will also be increasing, the company said.

The company’s delivery-area surcharge will be going up to $1.75 from $1.50. FedEx Express’ charge for Saturday pickup or delivery is increasing by 25% to $12.50 from $10.

FedEx Ground rates will be increasing 3.9% next year, according to the company’s release.

The company is also relaunching its U.S.-to-Puerto Rico FedEx International Priority Freight service with a one-day delivery guarantee. FedEx will also guarantee three-day delivery to Puerto Rico.

Earlier this month, FedEx’s main competitor – United Parcel Service Inc. – said that it was raising its rates by as much as 3.9% (Click here for related coverage.).

FedEx is ranked No. 2 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada.

(Click here for the full press release.)