On Thursday July 23rd UPS made an update announcement back tracking on the decreases they made a month earlier.
This announcement increases the surcharge amount for shipments from China up to what it was before the June 23 announcement. It also increased the surcharge on shipments from Hong Kong SAR to match that of China.
The previous UPS peak surcharge update was a positive for shippers. This new increase, however, shows the volatility with the carriers and their international capacity.
From the UPS website:
Effective July 26, 2020 until further notice, the amount of the Peak Surcharge applied to shipments from China Mainland and Hong Kong SAR to the U.S. will increase, as market conditions have continued to evolve with the ongoing coronavirus situation. All other previously announced Peak Surcharges will continue to apply as set forth below and the amounts of those Peak Surcharges remain unchanged.
Read The full announcement here: https://www.ups.com/assets/resources/media/en_US/2020_UPS_Peak_Surcharges.pdf
Contact us at email@example.com to receive a custom analysis of what the GRI, and all the recent Peak Season Surcharges, will mean to your company. Your personalized report will detail the cost impact TO YOU of all the current fees and surcharges from both the UPS GRI and FedEx GRI.