Commodity

What does commodity mean in shipping?

In shipping, a commodity refers to raw materials or goods that are transported in large volumes. Commodities are often standardized and interchangeable products, such as agricultural goods, minerals, or fuels, traded internationally. The transportation of commodities is a key part of global trade, as these goods are essential inputs for manufacturing and production processes across various industries. Shipping plays a vital role in moving commodities efficiently across borders.

Types of commodity in shipping

There are various types of commodities shipped globally, generally classified into bulk commodities and containerized commodities. Bulk commodities include products like coal, oil, grain, and ores, which are shipped in large quantities without packaging. Containerized commodities, on the other hand, are smaller items that are loaded into containers for transport, such as electronics, textiles, and food products. Both categories of commodities are crucial to international supply chains.

What is a commodity class in shipping?

A commodity class in shipping refers to a category used to classify goods based on their characteristics, such as weight, size, density, or value. These classes help determine shipping rates and handling requirements. Commonly used in freight shipping, commodity classes allow carriers to apply standardized rates based on how easy or difficult the goods are to transport. For example, higher-value or fragile items might fall into a different class than bulk goods or industrial materials.

What is the most shipped commodity in the world?

The most shipped commodity in the world is crude oil. It is essential for producing energy, fuel, and a variety of industrial products, making it the cornerstone of global trade. Other top commodities include iron ore, coal, and agricultural products like grains. Due to the high demand for energy and raw materials across industries, these commodities dominate international shipping volumes.