Fuel surcharges for international air express shipments have mostly increased slightly this monthfollowing an upward trend in October and September due to rising oil prices, CEP-Research analysis
shows.The higher surcharges reflect the rise in oil prices that started in late June and continuedthrough July and August into September. Prices have eased back slightly over the last 6-8 weeks,however, indicating a slight fall in surcharges later this year.
In Europe, TNT Express’s European surcharge has remained at 20.5 per cent for November whileDHL and FedEx’s surcharge levels are stable at 18 per cent. UPS’s surcharge, however, rose slightlyto 17.5 per cent this month from 17 per cent in October.
In the USA, FedEx, UPS and DHL all raised their surcharges to 14 per cent from 13.5 per centin October.
In Asia Pacific, DHL raised its surcharge slightly to 24.5 percent from 24 per cent inOctober while TNT Express’s surcharge for Asia Pacific, Middle East and Africa rose to 20.5 percent from 20 per cent last month. UPS has increased its Asia surcharge to 21.5 per cent forNovember from 21 per cent in October while FedEx’s surcharge increased to 18.5 per cent from 18 percent last month.
The air express fuel surcharges for November reflect the oil price level two months ago. Thefour integrators calculate their surcharges based on indices showing the previous month’s oil pricelevel and announce them in advance for the following month. This results in a two-month time lagbetween the fuel price and surcharge change.
Oil prices were largely stable today as traders worried about the looming threat of the US ‘fiscal cliff’ in January 2013 when a combination of spending cuts and higher taxes could hit US GDPgrowth significantly but these fears were partly offset by Chinese demand figures. Brent crude oilfutures in London remained above $109 today while on the New York Mercantile Exchange, WTI crudeoil was trading just over $86 a barrel.
