Fuel surcharges for international air express shipments dropped this month in USA and Asia aftera rise last month but mostly remained at the same level in Europe, CEP-Research analysis shows.
In April, the European surcharges for DHL, FedEx and UPS remained on the same level while theTNT surcharge slightly dropped. UPS and FedEx surcharges maintained the same figure of 13% whileDHL remained at 12.5% for March and April. The TNT Express European surcharge showed a slight fallin April to 16% from 16.5% in March while its separate UK surcharge remains the same at 8%.
In the USA, FedEx Express, UPS and DHL Express have all reduced their April surcharges fordomestic and international air express shipments to 7% from 7.5% last month.
In Asia, surcharges for all the four integrators have decreased in April compared to last month.The UPS surcharge fell from 16% in March to 15.5% in April while DHL went down from 16.5% in Marchto 16% this month. The TNT surcharge dropped from 13.5% in March to 13% in April. FedEx, whosesurcharges vary by country in Asia, also decreased its export and import fuel surcharges in bothSingapore and in Hong Kong from 11% for March to 10.5% in April.
The air express fuel surcharges for April reflect the oil price level two months ago. The fourleading express carriers calculate their surcharges based on indexes showing the previous month’soil price level and announce them in advance for the following month. This results in a two-monthtime lag between prices and the surcharge level.
Compared to early March, when prices soared to an eight-week high surpassing $80, oil rosefurther topping $85 a barrel today (Monday) due to a weaker US dollar and data showing Chinesecrude imports jumping to their second-highest monthly level in March. Today, prices settled at$85.45 a barrel a barrel on the New York Mercantile Exchange while the Brent crude oil price inLondon was slightly higher with $85.53 a barrel.
After euro-zone finance ministers approved a €30 billion emergency aid for Greece on Sunday, theeuro reached its highest levels in nearly a month in Asian trade, while the dollar index fell 0.8%against a basket of currencies on Monday. A weaker dollar can bolster oil prices, makingcommodities denominated in dollars cheaper for other currency holders, according to theinternational news agency Reuters.
