The commonly used trade terms for sea freight are:
CIF: Cost, Insurance and Freight, consisting of three components - cost, insurance, and freight;
CNF (also known as CFR): Cost and Freight, excluding insurance, consisting of two components - cost and freight;
FOB: Free on Board, delivery to the vessel at the port of shipment;
The corresponding air freight trade terms are:
CIP: Carriage and Insurance Paid to, which means the seller delivers the goods to the named airport of destination and buys the insurance from the place of departure to the named airport of destination. This is similar to CIF.
CPT: Carriage Paid To, excluding insurance, which means the seller delivers the goods to the named airport of destination. After delivery, the buyer bears all other costs and risks, similar to CNF.
FCA: Free Carrier, where the seller delivers the goods to the carrier or another person nominated by the buyer at the named place and clears the goods for export.
However, many exporting companies still use the sea freight trade terms in place of the specialized international trade terms.