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Freight rate. A freight rate (historically and in ship chartering simply freight[ 1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport ( truck, ship, train, aircraft ), the weight of the cargo, and the distance to the delivery destination.
The term "cost, insurance, freight" or "c.i.f." predates the introduction of Incoterms. Craighall noted in a 1919 article that in "earlier times" the initials were usually written "C. F. & I.": he quotes the phrase "C. F. & I. by steamer to N.Y." used in a shipping contract addressed in the New York State case of Mee v. McNider (1886).
The Freightos International Freight Index was first launched as a weekly freight index in early 2017. [7] The Freightos Baltic Index has been in wide use since 2018. [8] It is currently the only freight rate index that is issued daily, and is also the only IOSCO-compliant freight index that is currently regulated by the EU (in particular, the European Securities and Markets Authority).
The United Nations Conference on Trade and Development [UNCTAD], tracks in its 2010 Review of Maritime Trade two aspects of container shipping prices: [105] The first one is a chartering price, specifically the price to time-charter a 1 TEU slot for 14 tonnes of cargo on a container ship. [60] The other is the freight rate; or comprehensive ...
Freight transport, also referred as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. [1] The term shipping originally referred to transport by sea but in American English , it has been extended to refer to transport by land or air (International English: "carriage") as well.
Cargo ship. Cargo ship at Puerto Cortés in Honduras. A cargo ship or freighter is a merchant ship that carries cargo, goods, and materials from one port to another. Thousands of cargo carriers ply the world's seas and oceans each year, handling the bulk of international trade.
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