UPS Raise Freight Rates - And Add More Hybrid Electric Trucks To Fleet

US – UPS Freight, part of the United Parcel Service (UPS) group have followed the example of FedEx who last week raised freight rates, with their own set of increases. From the 18th October the ‘over the road’ heavy freight division will increase its North American, Canadian and Mexican tariff by an average 5.9% and applies to minimum charge, less than truckload (LTL) services and accessorial charges. Stocks in the group fell 25 cents upon release of the news.

In their last financial press release in July the company announced a 71% jump in earnings for the second quarter this year against the same period in 2009 plus a 57% increase in operating profit to $1.4 billion, third quarter figures are expected shortly.

In other news UPS have continued to add to their hybrid electric vehicle (HEV) fleet with an extra 130 trucks being drafted in through California and New York/New Jersey. The company claim the fuel saving and emission reduction is equivalent to 128 passenger cars being taken off the road. The UPS HEV fleet features two different sizes of vehicles from the Freightliner Custom Chassis Corporation and a hybrid drive system from Eaton Corporation.

UPS already operates one of the largest private fleets of alternatively fuelled vehicles in the world with over 2000 worldwide. The company says it has invested more than $25 million in non conventional hybrid powered vehicles along with others using fuels such as compressed natural gas, liquefied natural gas, propane and all-electric.