I surfed the internet and found countless definitions for these terms and they are "kinda" representative of what you'd find on the internet:
Freight: Freight refers to the goods or commodities that are transported by various modes of transportation, such as trucks, trains, ships, and airplanes. It's a broad term that encompasses any type of goods being transported, whether they are raw materials, finished products, equipment, or any other items. "Freight" is often used in the context of the charges or fees associated with transporting these goods, known as "freight charges."
Cargo: Cargo also refers to the goods being transported, but it's often used in the context of goods carried by ships, airplanes, or other large transport vessels. "Cargo" tends to be used when referring to the actual items being carried by a specific mode of transportation. For example, you might hear about "ship's cargo" or "airplane cargo" when discussing goods being moved by sea or air.
Shipment: A shipment refers to a specific load or quantity of goods that are shipped together as a single unit from one location to another. It can include one or more items, packages, or containers. A shipment can consist of cargo or freight, depending on the context. When you prepare items to be transported, package them together, and send them off, you're creating a shipment.
P.S. People across the internet and my industry (I am new to freight brokerage) use these words so interchangeably, that it's hard to differentiate. You'll find different definitions on every page you open (when I mean different, I mean different connotations).
