FedEx to Boost Freight Rates as Costs Rise

FedEx Corp., the world’s largest overnight shipping company, will increase freight charges in North America by 5.9% because of higher costs to expand and operate its fleet.

The higher rates take effect June 14, FedEx said. They apply to cargo shipped within the U.S. and between the U.S. and Mexico and Canada, and don’t apply to consumer package shipments.

Shares of Memphis, Tenn.-based FedEx rose $1.26 to $71.90 on the New York Stock Exchange.