GRI (General Rate Increase)
A rate adjustment implemented by ocean carriers to compensate for rising operational costs fuel prices or increased demand.
Definition
A rate adjustment implemented by ocean carriers to compensate for rising operational costs fuel prices or increased demand. GRIs are common in the shipping industry and are typically announced with advance notice giving shippers time to plan accordingly
Related Terms
Gateway
A major port airport or border crossing that serves as the primary entry or exit point for cargo moving between countries.
General Average
A maritime law principle that requires all cargo owners to proportionally share the costs of damages or losses incurred during a voyage when an intentional sacrifice was made to save the ship or other cargo.
General Cargo
Goods that are packaged and shipped as individual units rather than in bulk.
Gross Tonnage (GT)
A measurement of a ship's total internal volume.
Groupage
A freight service in which multiple small shipments from different shippers are consolidated into a single container for international shipping.
Ground Handling
The physical handling of cargo baggage and aircraft services at airports.
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