This represents an impressive 1.5 tons per person based on the current global population. “Some 11 billion tons of goods are transported by ship each year. If you just look at shipping, i.e., goods and livestock transported by ship, the global market was worth $14 trillion in 2019.Īccording to the International Chamber of Shipping: In the UK, for example, I can buy strawberries in the winter from South Africa or Israel, while a consumer can walk into a Walmart store in Mexico City and buy Canadian blackberries. In today’s economy, consumers purchase goods and services from all over the world. The transportation of goods and livestock both domestically and international is a multibillion dollar business. The Cambridge Dictionary has the following definition of freight: “Goods, but not passengers, that are carried from one place to another, by ship, aircraft, train, or truck, or the system of transporting these goods.” A massive sector of the economy The noun freighter usually means a cargo ship, but it may also refer to a cargo plane, truck, or train. The same applies to a freight plane or cargo plane. We sometimes use the term as an adjective.įor example, a freight train is one that transports goods rather than passengers. When freight is an adjective or root word Image created by Market Business News. This means that transportation charges are $60. If my supplier quotes me a price of $1,000 for something I need to buy, I might ask: “And what about freight?” The supplier may answer: “$60 freight must be added to the $1,000.” Logistics refers to the process of managing how goods and other resources are purchased, brought to your company, stored, and delivered to their final destination. In the world of business, especially logistics, we can also use the word freight when talking about transportation or delivery charges. Delivery costs or shipping costs Image created by Market Business News. The Spanish word FLETE, French FRET, and Portuguese FRETE also come from Middle Low German. At the time, freight just meant “transportation of goods and passengers by water.” It was a variant of the Middle Dutch word FRAGHT and Middle Low German VRACHT. Etymology of Freight Image created by Market Business News.Įtymology is the study of the origins or words, i.e., where they came from, as well as how their meaning evolved or developed over time.Īs a noun, the term freight first appeared in the English language in the 15th century. It can be transported domestically or internationally by land, air or sea,” says FedEx. “Freight shipping is the transportation of goods, commodities and cargo in bulk by ship, aircraft, truck or intermodal via train and road. More than a certain weightįedEx defines freight as any shipment that weighs more than 150 lbs (68 kg). However, there is a lot of overlap today and you might see and hear the two terms – cargo and freight – used interchangeably in virtually all situations.
Ships and planes have generally been called cargo planes or cargo ships. Historically, freight has referred to transportation by land, unlike cargo which is for sea or air transportation. Once freight arrives on land, it is transported to its destination by drayage carriers. That is why the terms freight train or freight truck are much more common than cargo trucks or trains. However, unlike freight, we cannot use cargo as a verb. In this context, the term cargo means the same as freight. In other words, we can carry freight by air, sea, or land. Freight refers to products, goods, or merchandise that are transported in a ship, train, airplane, truck, or van.
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