GRI Planned For Asia Ocean Freight Imports
Killick Martin have received several notifications that ocean freight carriers are implementing a General Rate Increase (GRI) on Asia imports from 1st May 2024.
The rate increase is due to be implemented on both Asia to North Europe and Asia to Mediterranean services, and the levels will vary by route and from carrier to carrier.
As we have witnessed in the past, carrier GRI’s have a history of being adjusted, or sometimes even cancelled, right up to the planned implementation date. However, with the current uncertainty in the market, we suggest that customers be prepared for an increase in costs.
The conflict in the Middle East still continues to impact ocean freight and disrupt carrier networks and schedules. The recent attack on Israel, and the seizure of the MSC Aries by Iranian troops, has only added to the volatility within the shipping industry.
The team at Killck Martin will be monitoring developments very closely.
