DHL's freight rates will increase by 7.9% in 2023, exceeding UPS and FedEx!

It is learned that DHL, the international express giant, announced that it will increase freight rates in the US market by 7.9% on January 1, 2023. This means that DHL's annual price increase exceeds the average increase that UPS and FedEx are about to implement.

“A limited number of optional services and surcharges will also be adjusted,” DHL Express said, when it will publish its 2023 rate guide.

The 7.9% freight rate increase in 2023 is higher than the 4.9% increase in 2021 and the 5.9% increase in 2022. It also exceeds the average increase of 6.9% that UPS and FedEx are about to implement.

DHL Express said that annual price increases factor in inflation, currency dynamics and administrative costs related to regulatory and security measures. Price adjustments vary by country.

The price increase comes as DHL Airlines struggles to cope with slowing demand this year. In the first half of 2022, DHL Express' international time-definite business volume fell 6% year-on-year, and domestic business volume in the United States fell 14.6% year-on-year. Although revenue still grew, profits fell.

Editor ✎Estella/

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