Ocean carriers are proposing a General Rate Increase (GRI) on cargo bound to all points in the US and Canada from Far East and Indian origins. In the US/Canada, a previous GRI which was scheduled to take effect on April 1, 2016, was postponed until April 15, 2016. In addition, steamship lines have announced their intention to assess an additional GRI on May 1, 2016.

Published GRI levels effective April 15, 2016

For Shipments to all US/Canadian destinations:
20′ Standard Containers: USD $540
40′ Standard Containers: USD $600
40′ High-Cube Containers: USD $675
45′ Standard Containers: USD $760
LCL: USD $12 per CBM, min USD $12

Published GRI levels effective May 1, 2016

For Shipments to all US/Canadian destinations:
20′ Standard Containers: USD $1080
40′ Standard Containers: USD $1200
40′ High-Cube Containers: USD $1350
45′ Standard Containers: USD $1520
LCL: USD $24 per CBM, min USD $24

Along with our overseas partners, Deringer will try to mitigate the upcoming rate increases.  Ultimately, the market will determine carriers’ flexibility. However, as a result of global economic uncertainties and a decline in spot-market rates on containerized shipments from Asia to the US/Canada, rate volatility is possible and there is potential for rates to be at, or close to, the published GRI levels.

Deringer will continue monitoring GRI announcements and will work to mitigate additional fees when possible. Please send an email to Deringer’s Marketing Department with any questions.