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From May 1st, Many Shipping Companies Will Collect GRI Fees

Views: 17     Author: Site Editor     Publish Time: 2022-04-21      Origin: Site

Recently, a number of shipping companies announced that from May 1, the "General Rate Surcharge" (GRI) on the Asia-US trans-Pacific route will be increased.


For this price adjustment, a surcharge ranging from USD 1,000 to USD 2,000 will be levied per FEU (40-foot standard container), which is roughly equivalent to 10% to 20% based on the increase in freight rates. Including COSCO, ONE, Evergreen, Yang Ming, HMM and other shipping companies are among the list of price increases.

GRI Fees


Affected by factors such as the global epidemic and port congestion, the latest SCFI freight index fell for 13 consecutive weeks, and the freight rates of most ocean routes fell, down 0.82% from the previous period; however, although the basic freight rates did not rise, the market demand remained basically stable , The shipping industry has again reported price increases, and many shipping companies have announced that GRI surcharges will be raised again from May 1.


Several leading container carriers serving trans-Pacific routes have recently updated their respective rates, including a new combined rate increase effective April 15, 2022, according to a news flash from the Beacon DPI Information Platform in Oakland, California, USA. Surcharge (GRI), which includes COSCO, Evergreen, Ocean Network Express (ONE) and ZIM. (The April 15 GRI is the ninth adjustment to the East Asia-US trade route in 2022)


According to information, Evergreen will charge an additional US$1,000-2,000 per 40-foot container; HMM will charge an additional US$1,000-2,000 per 40-foot container; ONE will increase by US$1,000 per 40-foot container; Yangming will charge an additional US$1,000-2,000 per 40-foot container ; ZIM increased by $1,000 per 40-foot container.


The specific GRI adjustment per FEU (40-foot container) is shown in the table below; the GRI of all other size containers is converted according to the formula.
GRI Fees_2

Note 1: COSCO GRI only applies to all goods shipped under a service contract. The GRI, which was previously in force on February 15, 2022, has been delayed until March 15, 2022, and subsequently until April 15, 2022.


Note 2: Evergreen GRI is priced at $1,000 per 40-foot dry container and $2,000 per refrigerated container. The GRI of all other sizes of containers is converted according to the formula.



GRI Fees_3


A number of operators have also updated their rates, including the new General Rate Increase Surcharge (GRI) effective May 1, 2022, including Evergreen, HMM, Ocean Network Express (ONE), Yang Ming and ZIM .

The GRI adjustment for each 40-foot container is shown in the table below; the GRI for all other size containers is converted according to the formula. (The May 1 GRI will be the ninth adjustment to the East Asia-US trade route in 2022)
GRI Fees_4

Note 1: Evergreen GRI is priced at $1,000 per 40-foot dry container and $2,000 per refrigerated container. The GRI of all other sizes of containers is converted according to the formula.


Note 2: HMM GRI is USD 1,000 per 40-foot container for goods shipped to USWC, USEC East, and US Gulf Coast destinations, and USD 2,000 per 40-foot container for goods shipped to IPI, MLB, and RIPI destinations . The GRI of all other sizes of containers is converted according to the formula.


Note 3: Yang Ming GRI charges USD 1,000 per 40-foot container for destinations shipped to USWC, USEC East, and US Gulf Coast, and USD 2,000 per 40-foot container for IPI, MLB, and RIPI destinations. The GRI of all other sizes of containers is converted according to the formula.



Although the freight index fell for 13 consecutive weeks, the volume and price of the global container shipping market in the first quarter were better than market expectations, and many shipping companies achieved new highs in the first quarter revenue. The long-term contract for the U.S. route took effect on May 1, and the negotiation went well this year. The average freight rate has doubled compared with last year, reflecting that long-term contract customers are optimistic about the market, which may become the driving force for the growth of shipping companies' revenue and profit in the second quarter. .


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