Quick Reference

1. The transport of goods by sea (sea freight) or air (air freight).

2. The goods so transported.

3. The cost of shipping goods for a particular voyage by sea or by air. Freight is charged on the basis of weight (see deadweight cargo) or the volume occupied, described as weight or measurement. Usually the rate is quoted per tonne or per cubic metre, the freight paid being whichever is the greater amount. Air freights are usually quoted on the basis of per kilo or per 7000 cubic centimetres, whichever is the greater. Certain cargoes are charged on an ad valorem basis, expressed as a percentage of the Free On Board (FOB) value. Freight is normally paid when the goods are delivered for shipment but in some cases it is paid at the destination (freight forward).

Subjects: Business and Management — Maritime History.

Reference entries

See all related reference entries in Oxford Index »