Shipping Templates

After you have gone to the Shipping tab in My Products and created a new template and given it a name, either go in to a single product and choose the new template name in the shipping section, or to apply the same template to multiple products, select them all then click the Bulk edit dropdown and choose Shipping, then choose the new template.

If you then want to apply that new shipping to active live listings, you need to tick the box that says update current listings to select products, voila.