SCD: UPS, FedEx fuel surcharge hikes to heat up delivery prices
SUPPLY CHAIN DIVE reports: FedEx and UPS’ index-based fuel surcharges are adjusted weekly based on prices ...
Fred Smith, chairman of FedEx, has written to shareholders about the “challenge and change” at the company – and has outlined why FedEx broke with Amazon.
“It was the correct decision to end these contracts — which were not long-term in nature and were declining in profitability — and train our eye on the larger e-commerce market,” Mr Smith wrote. “While the Amazon volume represented only a small portion of FedEx revenue, the last bit of volume has significant flow-through to the bottom line. FedEx was adversely affected; however, we have closed additional business to replace this volume and have taken out costs related to Amazon’s requirements.”
The letter also outlines the Covid challenges the company faces, and the plans it will undertake this year.
'I'm scared', says Boeing whistleblower, after two others suffer mysterious deaths
DSV could face $16m bill after helicopter is written off in haulage accident
Déjà vu as major ocean carriers scramble for tonnage and containers
FAK rate hikes holding, with strong demand into peak season predicted
Indian trade disrupted as port congestion forces liner services to skip calls
Shipper frustration as spot rates rise alongside demand, and cargo is rolled
Don't get too confident for Q2, market risks haven't disappeared, warns Yang Ming chief
Comment on this article