What is a GRI (general rate increase)?
Carriers announce a GRI as a fixed amount per container, for example per 20-foot and per 40-foot box, on a given trade, with notice before it takes effect. On trades to and from the United States, carriers must publish tariff rate increases at least 30 days in advance. GRIs are most common when demand is strong, often in the run-up to the peak season.
A GRI raises the base rate itself, while surcharges such as BAF or a peak season surcharge (PSS) sit on top and come and go with fuel prices or demand. An announced GRI is not always fully applied: in a weak market, competition can wear it away within weeks. Contract rates are often protected for their term, depending on the contract wording.
Many tariffs apply the rate in force on the date the cargo is received or the vessel sails, not the date it was booked, so a shipment booked before a GRI can still be charged it. When a GRI is announced, forwarders should check every open quote that will ship after the effective date and tell customers early, with the new figure and the date it applies.