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This map of shipping routes illustrates the relative density of commercial shipping in the world's oceans. Freight transport , also referred as freight forwarding , is the physical process of transporting commodities and merchandise goods and cargo . [1]
The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law.
Maritime transport accounts for roughly 80% of international trade, according to UNCTAD in 2020. Maritime transport can be realized over any distance by boat, ship, sailboat or barge, over oceans and lakes, through canals or along rivers. Shipping may be for commerce, recreation, or military purposes.
FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
These standards allow for more consistent loading, transporting, and unloading of goods in ports throughout the world, thus saving time and resources. The International Convention for Safe Containers (CSC) is a 1972 regulation by the Inter-governmental Maritime Consultative Organization on the safe handling and transport of containers. It ...
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A time charter is the hiring of a vessel for a specific period of time. The owner supplies the vessel and crew, but the charterer selects the ports, route and vessel speed, the last being a significant determinant of carbon dioxide emissions.