International air express fuel surcharges stable as oil prices sink
DHL, FedEx, UPS and TNT are keeping their fuel surcharges for air express shipments generally stable in September against a background of falling oil prices, CEP-Research analysis shows. In recent months, fuel surcharges had risen rapidly to the constantly increasing fuel prices.
However, fuel costs are now sinking again due to the weakening demand for oil products over the past four weeks, the news agency Reuters reported. The decreasing demand for oil products is reported to be due to rising concerns about the continuously worsening economy.
The four leading express carriers calculate their fuel surcharges based on indexes showing the previous month’s oil price level and announce them in advance for the following month. The surcharges thus reflect the oil prices of two months ago and do not fully reflect the current sharp downward trend in oil prices.
DHL Express surcharges for its US air express and international shipments remain the same in September as in August at 36.5pct for the 1 September – 4 October period. In Europe, DHL has slightly increased its air express surcharge to 20.5pct in September from 20pct in August. In Asia Pacific, DHL’s fuel surcharge stays the same with 27pct.
The FedEx Express fuel surcharge for US domestic, import and export shipments is the same as in August at 34.5pct for the 1 September-5 October period. In Europe, Middle East, India and Africa (EMEA), the FedEx fuel surcharge also remains the same with 20pct.
In Asia, where FedEx’s surcharges vary by country, the September export fuel surcharge remains at 25.5pct and the import fuel surcharge at 27.5pct in Singapore. In Hong Kong, the FedEx fuel surcharge for exports and imports remains at the same level with 25.5pct in September as it was in August.
Following the current trend, UPS fuel surcharges for its US domestic and international air express shipments remained unchanged at 34.5pct effective 1 September. In Europe, UPS slightly increased its fuel surcharge for express and expedited shipments by 0.5pct to 21.5pct from 1 September onwards from the previous level of 21pct in August. In Asia, however, the UPS package service fuel surcharge did not change for September remaining at 27.5pct.
TNT Express held its European fuel surcharge stable at 23pct for 1-28 September while the separate UK surcharge remained at 14.5pct. In the rest of the world (excluding the Americas), the TNT surcharge is the same for September as it was in August at 27pct.
