SingPost to raise international postage rates by S$0.05 in 2024
SINGAPORE Post (SingPost) will be introducing a S$0.05 rate hike for most international airmail letters, printed papers, aerogrammes and postcards from Jan 1, 2024.
Exceptions include rates for aerogrammes to Malaysia and Brunei, which will remain at S$0.80 per piece, as well as mail charges for additional weightage.
The new rate for aerogrammes to all countries except Malaysia and Brunei will be S$0.85, up from S$0.80 currently.
On Thursday (Dec 7), the postal services provider said that its upcoming rate hike was the result of annual fee revisions made by the Universal Postal Union, which in turn led to a progressive increase of international postal settlement rates over the years.
This settlement fee is payable to postal organisations of destination countries for mail delivery.
SingPost’s S$0.05 rate increase applies to zone 1 (Malaysia and Brunei), zone 2 (countries in Asia and The Pacific except Australia, Japan, and New Zealand) and zone 3 (Australia, Japan, New Zealand and the rest of the world).
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
For mail – comprising letters and printed papers – to zone 1, the new rate will be raised to S$0.85 from S$0.80 for items weighing up to 20 g; S$1.05 for up to 50 g (from S$1); and S$1.45 for mail up to 100 g (from S$1.40).
The rate for every additional 100 g of mail to zone 1 will remain unchanged at S$1.10. Postcards to this zone will be charged at S$0.75 apiece compared to S$0.70 previously.
Rates for mail going to zone 2 will be raised to S$0.95 from S$0.90 for the first 20 g, with charges for every additional 10 g to remain unchanged at S$0.25.
Postcards going to zone 2 will be charged S$0.85 per piece as opposed to S$0.80 previously.
A rate of S$1.55 for the first 20 g of mail will apply to zone 3 destinations, compared to S$1.50 previously, with no change to the S$0.35 charged for every additional 10 g. A higher S$0.85 rate will apply to postcards per piece to this zone, compared to S$0.80.
Weight limits stated for mail rates to all three zones are capped at 2 kg.
In late 2022, SingPost announced that it would raise its postage, package and doorstep parcel delivery rates from Jan 1, 2023 in line with earlier goods and services tax (GST) hikes.
From Oct 9 this year the group increased its standard regular mail rates by S$0.20 or 65 per cent to S$0.51, from S$0.31.
This marked the first significant rate increment introduced by SingPost since 2014.
Shares of SingPost : S08 0% ended Wednesday flat at S$0.45.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US Fed officials suggest interest rates should stay high for longer
Oil up after US economic data strengthens rate cut expectations
Europe: Shares snap nine-day winning streak as Siemens weighs
US: Stocks dip after Dow tops 40,000 for first time
Top HSBC shareholder Ping An exploring ways to cut US$13 billion stake
Gazelle Ventures’ cash offer for No Signboard closes with 0.5022% valid acceptances