This week in parcel, FedEx announces international fuel charges and makes an interesting international shipment, and shippers turn to AI to improve cross-border trade.
FedEx announces international fuel surcharge increases
FedEx announced that international fuel surcharge increases will go into effect on November 20. The new surcharges will raise prices for imports and exports by approximately 7%.
FedEx had a price advantage over UPS since April of this year, but the new increases close the surcharge gap.
If fuel is between $2.59 and $2.63, there will be a 20% surcharge on exports and a 23.75% surcharge on imports. However, if fuel is between $3.07 and $3.11, there will be a 23% surcharge on exports and a 26.75% surcharge on imports.
Find the full chart here.
AI could make cross-border trade faster and more cost-efficient
AI is everywhere, and companies are using it to improve cross-border trade.
As the number of international shipments has grown, so has the complexity of compliance requirements, leaving more data for humans to sift through.
With AI, however, shippers can review data accuracy and manage the increase in information quickly. Using this information can avoid inaccuracies that lead to fines and seizures, while saving time and money.
Shippers can use AI to automate code assignments that meet the unique requirements of a specific country’s customs authorities nearly instantaneously.
AI can also assist businesses in optimizing delivery routes that reduce emissions and lead to more sustainable practices.
Our take: Cross-border trade is a growing market for many online sellers. Utilizing AI to streamline shipments might become a necessity to keep up with competitors.
Read more here.
Giant pandas take a trip on FedEx Panda Express
On Saturday, November 9, the Smithsonian’s National Zoo in Washington, D.C., returned the three giant pandas to China aboard a FedEx Express Boeing 777F. Mei Xiang and Tian Tian had been at the National Zoo since FedEx delivered the pair in 2000, while Xiao Qi Ji was born at the zoo.
FedEx has worked with the Chinese government for decades to ship giant pandas in and out of China. The carrier also provided transportation from the zoo to the airport. It has now transported 15 pandas on ten flights.
Our take: Shipments don’t always need to be in corrugated boxes. Sometimes, shippers can get creative with their shipments.
Read more here.