GRI (General Rate Increase) Update IV:
The October GRI of $300 - $450 dollars that the Ocean Carriers attempted to implement on Exports was in general reduced to close to $100. With that development, we are facing a second potential GRI going that may go into effect on Nov. 1 2016. At this moment the Carriers to do not have full numbers on what to expect on the GRI’s for Nov 1st, but we will be sending out updates to the rates if there are changes before the end of the month.
Please be advised there are Equipment Shortages happening on most inland rail hubs as well as port hubs. This is a result of multiple issues in the industry Hanjin Bankruptcy, Hurricane Matthew, and mandates for cost reductions with the majority of the ocean carriers. Be prepared to plan ahead for the next few months to ship during the upcoming holiday season.