Economy
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The 2:00 Minute Warning
Lately we've been talking about how a number of factors in the transportation industry are creating a perfect storm and raising rates for shippers. But there is one other thing that should be on your radar screen.
Lately we've been talking about how a number of factors in the transportation industry are creating a perfect storm and raising rates for shippers. But there is one other thing that should be on your radar screen. And that one thing is the General Rate Increases by UPS (effective December 24) and the FedEx increase (effective January 1, 2018) that will result in higher costs for shippers.
While you may have heard that rates for both FedEx and UPS are increasing by an average of 4.9%, in this week's Two Minute Warning we highlight some of the details of UPS's announcement. Suffice it to say, some shippers could find themselves facing much higher increases of 8%, 10% or even more. Watch this week's video to hear more details about a few highlights of the rate increase, such as the:
- Dimensional weight divisor for packages less than one cubic foot
- Large package surcharge
- Additional handling charge
- Over maximum limits surcharge
If you need help gauging the financial impact of these changes, we have a parcel toolbox reporting tool that can help you plan ahead. Simply send us an email or give us a call at 630-833-0890 and we'll tell you more. We're on your team, we're here to help, and we're passionate about seeing you be successful.