The rise of maritime facilitation has greatly benefited exporters and importers around the world. This growth was primarily driven by ocean freight transport. Almost 90% of world trade today is by sea and ocean freight. Sea freight is a method of transporting goods by sea. Following this practice, many goods are packed in containers and shipped overseas by sea. It is one of the most common modes of transport used by exporters and importers worldwide. Ocean shipping is definitely not cheap for small shipments and scale. For larger shipments, the overall cost is better. That is why it has become an important part of international trade. Nonetheless, sea shipments are much slower as most shipments typically take 40 to 60 days to arrive.
Sea transport offers a number of important advantages in international trade.
1. One of the main advantages of this practice is the ability to handle bulky or heavy cargo such as vehicles, furniture, equipment, etc. Containers available in different sizes (20ft, 40ft, etc.) depending on the product size and shipping.
2. Ocean shipping offers more economical fares compared to other modes of transportation such as air shipping.
Finally, transport is also environmentally friendly. The CO2 emission or carbon footprint of this method is much less than other modes of transportation.
For container shipping, there are basically two types of shipping services: LCL or FCL.
LCL stands for Low Container Load and FCL stands for Full Container Load.
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Morgan King