HMM Expects to Improve Profitability through GRI

January 2014

HMM expects to improve profitability through GRI (General Rate Increase) which is a freight increase conducted annually at the end of the year.

HMM raised its freight charge for the American line by $200 per FEU (Forty-foot Equivalent Unit) on December 20th, and for the European line by $1,100 per FEU on December 16th.

“We implemented GRI because the demand for vessels increases at the end of the year,” remarked an HMM official. “Typically container traffic surges before long holidays like the Lunar New Year. This year’s Lunar New Year falls at the end of January, so the company is expecting an increase in traffic volume and freight rate from mid-January.”


Image by Hyundai Merchant Marine Co. Ltd.

Hyundai Merchant Marine Co. Ltd, press release