General Rate Increase (GRI)
The General Rate Increase (GRI) is a scheduled, industry-wide rise in base ocean freight rates imposed by carriers. GRIs are often announced and applied to certain trade routes to accommodate changes in market variables such as fuel prices, capacity imbalances, or increased operational expenses. These increases are not limited to any one contract but apply to all deliveries booked on or after the date of effect.
CargoWise allows freight forwarders to monitor and manage GRIs using automated rate update tools. GRIs play an important role in carrier profitability, particularly during high demand or when supply chain restrictions limit capacity. For logistics providers, precisely tracking GRIs ensures that rate quotes are current and invoicing is consistent with carrier expectations. Using digital tools within CargoWise allows businesses to stay current on impending changes and implement them methodically across relevant shipments.