Planned GRI For Asia Ocean Imports From November 1st

Carriers are currently planning to introduce a General Rate Increase (GRI) for ocean freight shipments moving from Asia on November 1st, despite current market conditions.

The past few weeks have seen demand softening and freight levels receding for the first time this year, which would ordinarily suggest that an increase was not on the cards.

However, we have recently witnessed several notices of blanked sailings being introduced during the next few weeks, which are seemingly being initiated to support an increase in ocean freight rates.

Blanked sailings (or cancelled voyages) will reduce capacity and effectively create artificial demand levels that may assist in pushing a GRI through. The level of the increases vary from carrier to carrier, but some are indicating up to $2000 per forty foot container.

That said, there is no certainty that these levels, or the GRI itself, will be applied. However, it is important for customers to be aware of carrier intentions and to plan for the worst, that freight increases may be coming from next month.

What we do know for sure, is that there will be some gaps in schedules during the next few weeks. For more information, please do not hesitate to contact your Croft Cargo team.

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