Okuzeka
Maritime & Shipping vocabulary · Chartering & Shipping Documents

Freight

Meaning in maritime & shipping, with examples

/freɪt/nounCommon term

In maritime & shipping, freight means: The money paid to the carrier for transporting goods by sea. In general English it can also mean the goods themselves.

In Turkish: navlun, yük

How it is used

In chartering, freight is quoted per tonne or as a lump sum: 'freight USD 25 per metric tonne'. Bills of lading are marked 'freight prepaid' or 'freight collect'. Under a time charter the payment is called 'hire', not freight.

Example sentences

  1. Freight is payable within five banking days after the bills of lading are signed.

  2. Freight rates in the dry bulk market can change sharply in a single week.

Common collocations

  • freight rate
  • freight prepaid
  • freight collect
  • lump sum freight
  • freight market
  • charter partyThe contract between a shipowner and a charterer for hiring a ship, either for a voyage or for a period of time. It sets out the freight or hire, the cargo, the ports and the laytime.
  • bill of ladingA document issued by the carrier when goods are loaded. It acts as a receipt for the cargo, as evidence of the contract of carriage and as a document of title that can be transferred.
  • chartererThe person or company that hires a ship from the shipowner under a charter party, either to carry its own cargo or to trade the ship.
  • demurrageMoney that the charterer pays the shipowner when loading or discharging takes longer than the laytime agreed in the charter party. It is usually a fixed daily rate.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Chartering & Shipping Documents

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: