Container Freight Rates Set to Rise; Yang Ming Notifies GRI Increase on May 15
Driven by rising fuel costs due to the Middle East war, container shipping rates are rising. Yang Ming informed customers of a $2,000 GRI increase per 40-foot container for North American routes starting May 15.
📋 Article Processing Timeline
- 📰 Published: April 23, 2026 at 13:34
- 🔍 Collected: April 23, 2026 at 14:01 (27 min after Published)
- 🤖 AI Analyzed: April 23, 2026 at 16:13 (2h 11m after Collected)
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Central News Agency
(CNA Reporter Chiang Ming-yen, Taipei, 23rd) War in the Middle East has pushed up oil costs, leading to calls for price hikes in the container shipping market. Yang Ming Marine Transport has notified its customers that it will increase the General Rate Increase (GRI) starting May 15, adding $2,000 per 40-foot equivalent unit (FEU) on routes from the Far East to North America. Wan Hai Lines stated that freight rates across its routes are gradually reflecting costs, with two waves of increases already implemented on intra-Asia routes in April.
Yang Ming has notified clients that, effective May 15, it will increase the GRI, adding $1,800 per 20-foot equivalent unit (TEU) and $2,000 per 40-foot equivalent unit (FEU) for routes from the Far East to North America.
Logistics professionals analyzed that May is a critical period for signing annual long-term contracts for container ships. The recent frequent increases in freight rates and surcharges will help raise long-term contract prices and reduce a wait-and-see attitude among shippers. However, the GRI concept only represents a price hike ceiling; whether the final price increase on May 15 is successful will still depend on the final agreements between shippers and carriers.
Logistics experts stated that current freight rates on North American routes are steady while capacity is tight, primarily due to carriers flexibly reducing capacity and blanking sailings. Influenced by rising oil prices, long-term contract prices this year will be higher than last year.
Geopolitical tensions have caused severe fluctuations in international oil prices, and fuel costs have increased operational pressure. Moreover, due to obstructed passage through the Strait of Hormuz, carriers have successively adjusted route configurations for navigational safety to maintain cargo flow in the Persian Gulf region, raising the risk of congestion at alternative ports and indirectly absorbing global container supply capacity.
Wan Hai previously pointed out that while the ongoing Middle East conflict has a direct impact of less than 5% on cargo volume and revenue, the war has led to rising international oil prices. Accompanied by related costs like route detours, fuel, and insurance, overall operational costs have increased significantly. To maintain route service stability and operational quality, freight rates across Wan Hai's routes are gradually reflecting the increased costs. Among them, two waves of increases were implemented on intra-Asia routes in April.
Following Wan Hai and Yang Ming's rate hikes on near-sea and North American routes, Evergreen Marine will hold an earnings call on the 24th, and the market is paying close attention to its outlook and views on freight rates. (Editor: Chang Chun-mao) 1150423
Central News Agency
(CNA Reporter Chiang Ming-yen, Taipei, 23rd) War in the Middle East has pushed up oil costs, leading to calls for price hikes in the container shipping market. Yang Ming Marine Transport has notified its customers that it will increase the General Rate Increase (GRI) starting May 15, adding $2,000 per 40-foot equivalent unit (FEU) on routes from the Far East to North America. Wan Hai Lines stated that freight rates across its routes are gradually reflecting costs, with two waves of increases already implemented on intra-Asia routes in April.
Yang Ming has notified clients that, effective May 15, it will increase the GRI, adding $1,800 per 20-foot equivalent unit (TEU) and $2,000 per 40-foot equivalent unit (FEU) for routes from the Far East to North America.
Logistics professionals analyzed that May is a critical period for signing annual long-term contracts for container ships. The recent frequent increases in freight rates and surcharges will help raise long-term contract prices and reduce a wait-and-see attitude among shippers. However, the GRI concept only represents a price hike ceiling; whether the final price increase on May 15 is successful will still depend on the final agreements between shippers and carriers.
Logistics experts stated that current freight rates on North American routes are steady while capacity is tight, primarily due to carriers flexibly reducing capacity and blanking sailings. Influenced by rising oil prices, long-term contract prices this year will be higher than last year.
Geopolitical tensions have caused severe fluctuations in international oil prices, and fuel costs have increased operational pressure. Moreover, due to obstructed passage through the Strait of Hormuz, carriers have successively adjusted route configurations for navigational safety to maintain cargo flow in the Persian Gulf region, raising the risk of congestion at alternative ports and indirectly absorbing global container supply capacity.
Wan Hai previously pointed out that while the ongoing Middle East conflict has a direct impact of less than 5% on cargo volume and revenue, the war has led to rising international oil prices. Accompanied by related costs like route detours, fuel, and insurance, overall operational costs have increased significantly. To maintain route service stability and operational quality, freight rates across Wan Hai's routes are gradually reflecting the increased costs. Among them, two waves of increases were implemented on intra-Asia routes in April.
Following Wan Hai and Yang Ming's rate hikes on near-sea and North American routes, Evergreen Marine will hold an earnings call on the 24th, and the market is paying close attention to its outlook and views on freight rates. (Editor: Chang Chun-mao) 1150423