Freight Rate
Freight rate refers to the price charged by a carrier for the transportation of goods from one place to another. It is the amount paid by the shipper or consignee to the carrier for the carriage of goods. Freight rates are determined by various factors such as the type of cargo, the distance to be covered, the mode of transportation, the size and weight of the cargo, and the market demand. The freight rate can be fixed or negotiated between the shipper and the carrier. It is an important factor in the shipping industry as it affects the profitability of the carrier and the cost of goods for the shipper or consignee.
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