What does the term "draft" refer to in nautical terms?

The term "draft" in nautical terminology specifically refers to the vertical distance between the waterline and the lowest part of the hull, typically the keel. This measurement is crucial because it indicates how deep a vessel sits in the water, which can affect its stability, maneuverability, and seaworthiness. A deeper draft often allows for better stability in rough seas, but it can also limit the vessel's ability to navigate in shallow waters. Understanding the draft of a vessel helps mariners make informed decisions regarding loading, navigation in various water depths, and compliance with harbor regulations.