DOW JONES NEWSWIRES
United Parcel Service Inc.’s (UPS) freight division will raise average noncontractual shipping rates in North America by 6.9% starting next month, as the industry copes with rapidly rising fuel costs.
The move follows a 5.9% rate increase in October by its UPS Freight unit, the fourth largest less-than-full-truckload carrier in the U.S. Rival FedEx Corp. (FDX) also has been raising its rates to cope with high fuel prices.
The package shipper said the higher rates in the U.S., Canada and Mexico apply to minimum charges, less-than-full-truckload rates and supplemental charges.
The company in April trimmed its global and U.S. economic growth forecast but said it expects freight volume to gain pace despite the “cloudier” outlook. UPS reported a 66% rise in first-quarter profit as higher prices, productivity gains and a shift by customers toward more premium products countered rising fuel costs.
Shares were up 25 cents at $73.18 in early trading. The stock is up 26% in the past year.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com
Weâ€™d like to take a moment and welcome you to the Mostly-New United Package Smashers website! Of course, you can still visit the United Package Smashers Forums that you have come to know and love.
For the past two weeks, we have been quite busy implementing changes across the site. You may have noticed this as well, since there were lots of annoying intermittent errors and broken features. And while the look of the forums has not changed too much, there have been alot of under the hood changes and obviously, for the first time in several years, we have an actual website again instead of just a forum.
For the most part, we are done with the outages. The move to faster and more reliable servers has been completed. The changes have been implemented. For the most part, weâ€™re done messing with the forums and the site layout in general. Now our focus is on building you a site that will keep you informed of every aspect of the package smashing that goes on at our favorite small parcel delivery company. Many of the pages on this site are still blank, but now we are working on fixing that as well. After all, if a package is smashed and no one hears about it, did the package really get smashed?
Welcome to The New United Package Smashers. We hope you enjoy your stay.