GRI
General Rate Increase
A GRI is a freight rate increase that carriers announce for a future date and apply across a whole trade lane.
In plain words
Carriers announce a GRI some time before it starts. It usually applies per container to all shipments on a trade lane, for example from Asia to the Mediterranean, from a given date.
An announced GRI does not always stick. Depending on the market, it may be applied in full, in part, or postponed. Quotes and contracts often say whether future GRIs are included, so read this line before you sign.
Example from real shipping
A forwarder tells a client that carriers have announced a GRI on their trade lane from the first day of next month. The client’s cargo is ready, so they book a ship that sails before that date and keep the current rate.
Related terms
- PSSPSS is a temporary surcharge that carriers add when demand for space is high, for example before major holidays or in the busiest shipping months.
- BAFBAF is a surcharge on sea freight that covers changes in the price of ship fuel (called bunker).
- Landed costLanded cost is the total cost of getting a product to your door: the price of the goods plus freight, insurance, duties, taxes, and all other fees on the way.
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Request a QuoteThis glossary is general information, not legal or customs advice. Rules, fees, and practice can differ by carrier, port, and country.