Sea freight
Cost of transporting goods by sea, the main mode of transport for international trade.
Sea freight
Sea freight refers to the cost of transporting goods by sea. Sea transport carries approximately 90% of global trade by volume, making it the mainstay of international logistics.
Cost components
The total cost of ocean freight includes the base freight rate (ocean freight), surcharges (BAF, THC, CIF, ISPS, etc.), port and terminal fees and documentation fees.
Pricing methods
- FCL (Full Container Load): pricing per container (20', 40', 40'HC)
- LCL (Less than Container Load): pricing per paid unit (the higher of the weight in tonnes and the volume in m³)
- Bulk: pricing per ton or package depending on the type of ship
Factors influencing rates
Capacity supply and demand, fuel price (bunker), distance, seasonality (3rd quarter peak), maritime alliances (2M, Ocean Alliance, THE Alliance) and geopolitical events.
Benchmarks
The Shanghai Containerized Freight Index (SCFI), Freightos Baltic Index (FBX) and Drewry World Container Index are the main indices tracking containerized freight rates.
Impact on customs value
In the EU, sea freight is included in the customs value (CIF basis). Its amount directly impacts customs duties and import VAT.