Round complexity is an extensively studied metric of distributed algorithms. In contrast, our knowledge of the \emph{message complexity} of distributed computing problems and its relationship (if any) with round complexity is still quite limited. To illustrate, for many fundamental distributed graph optimization problems such as (exact) diameter computation, All-Pairs Shortest Paths (APSP), Maximum Matching etc., while (near) round-optimal algorithms are known, message-optimal algorithms are hitherto unknown. More importantly, the existing round-optimal algorithms are not message-optimal. This raises two important questions: (1) Can we design message-optimal algorithms for these problems? (2) Can we give message-time tradeoffs for these problems in case the message-optimal algorithms are not round-optimal? In this work, we focus on a fundamental graph optimization problem, \emph{All Pairs Shortest Path (APSP)}, whose message complexity is still unresolved. We present two main results in the CONGEST model: (1) We give a message-optimal (up to logarithmic factors) algorithm that solves weighted APSP, using $\tilde{O}(n^2)$ messages. This algorithm takes $\tilde{O}(n^2)$ rounds. (2) For any $0 \leq \varepsilon \le 1$, we show how to solve unweighted APSP in $\tilde{O}(n^{2-\varepsilon })$ rounds and $\tilde{O}(n^{2+\varepsilon })$ messages. At one end of this smooth trade-off, we obtain a (nearly) message-optimal algorithm using $\tilde{O}(n^2)$ messages (for $\varepsilon = 0$), whereas at the other end we get a (nearly) round-optimal algorithm using $\tilde{O}(n)$ rounds (for $\varepsilon = 1$). This is the first such message-time trade-off result known.