Glossary

GRI (General Rate Increase)

Tags: 

A GRI is a general rate increase that carriers can apply to their ocean freight rates.

Ready to Get Started?

Flexport makes shipping your cargo transparent, reliable, and affordable

What is a GRI?

The GRI is a general rate increase that all ocean carriers may choose to apply. U.S. regulation requires that carriers must announce any GRI at least 30 days in advance. Therefore, U.S. carriers tend to announce a GRI on the 1st of a given month, to take effect the 1st of the following month.

The GRI may vary significantly from month to month. The GRI may also vary between different carriers and trade lanes.

How long does a GRI last?

Even though carriers must announce a GRI 30 days in advance, they are free to lower rates at any time. As a result, freight rates tend to lower from week to week over the course of a given month, and then jump back up in the next month as a new GRI takes effect. At other times, the GRI may hold throughout the month, so it’s not always possible to predict how rates will change.

Subscribe to Flexport’s Freight Market Updates to stay up to date on any applicable GRIs.

Example of GRI Implementation

Carrier’s rate for July: $1000/40’

On July 1, carrier announces August 1 GRI of $500/40’

On August 1, the new rate will be: $1500/40’ ($1000 + $500 GRI)


Learn More

Related Help Articles

How Does Flexport Incorporate GRI and PSS?

Why Does My Shipment Need to be Re-quoted?

Related Glossary Terms

PSS (Peak Season Surcharge)

Share the Article

More From Flexport

arrowImagearrowImage

Ready to Get Started?

Sign up for a Flexport account or ask to see our platform in action.

Sign Up for Freight Market Updates

Get weekly insights into all things freight, delivered right to your inbox.

I agree to the storing and processing of my personal data by Flexport as described in the Terms of Service and Privacy Policy.
LEGAL

Customs brokerage services are provided by Flexport’s wholly-owned subsidiary, Flexport Customs LLC, a licensed customs brokerage with a national permit. International ocean freight forwarding services are provided by Flexport International LLC, a licensed Ocean Transportation Intermediary FMC# 025219NF. U.S. trucking services are provided by Flexport International, LLC, a FMCSA licensed property broker USDOT #2594279 and MC #906604-B. All transactions are subject to Flexport’s standard terms and conditions, available at www.flexport.com/terms 沪ICP备16041494号

Copyright © 2020 Flexport Inc.

Terms of Use/Privacy Policy