As June approaches, the logistics industry is bracing for another General Rate Increase (GRI) set to take effect on June 1st. In addition to this upcoming rate hike, the current landscape is characterized by equipment shortages, blank sailings, and potential rail strikes in Canada, all of which have made space availability, rather than rates, the primary concern for shippers. Equipment Shortage: The ongoing global shortage … Read More
Major Carriers Announce Significant General Rate Increase for February
Commencing February 1st, 2024, the shipping industry is poised for a notable shift as major carriers announce a General Rate Increase (GRI) on ocean freight, with Transpacific FEU cost set to rise well above the five-thousand-dollar mark. This development holds implications for global supply chains, businesses, and consumers, emphasizing the interconnectedness of the world’s economies. Understanding GRI in Ocean Freight A General Rate Increase (GRI) … Read More