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Maritime freight refers to the transportation of goods via sea. It is a critical component of international trade, involving the movement of cargo in bulk using various types of vessels.
The cost of maritime freight, also known as sea freight, depends on several factors including the weight and dimensions of the cargo, the distance between the origin and destination ports, and the type of goods being transported.
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Various agreements exist regarding who is responsible for loading, unloading, and stowage of cargo, such as Free In and Out (FIO), Free In Out and Stowed (FIOS), and Free In/Liner Out.
Importance in Global Trade:
Maritime transport accounts for a significant portion of international trade, with some estimates indicating that it handles roughly 80% of global trade, according to UNCTAD in 2020.
Challenges and Trends:
Maritime transport faces challenges like congestion, supply chain disruptions, and concerns about safety and environmental impact. There is a growing trend towards regional trade, shorter routes, and greener supply chains.
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