航运 refers to the transportation of goods or passengers by sea or waterways. It combines two characters: 航 (háng), meaning 'to navigate' or 'to sail', and 运 (yùn), meaning 'to transport' or 'to carry'. Together, they literally mean 'sailing transport', emphasizing movement across maritime routes rather than land or air. This term is commonly used in business, logistics, and government contexts to describe commercial shipping operations, port activities, and international trade infrastructure.

The word is formal and technical—it rarely appears in casual daily conversation but is frequent in news reports, economic analyses, and official documents about trade, ports, or supply chains. It often collocates with words like 公司 (company), 港口 (port), 贸易 (trade), or 国际 (international). While it primarily denotes sea-based transport, it can sometimes include inland waterway shipping (e.g., rivers and canals) when discussed in broader logistical frameworks.