affreightment

(redirected from Contract of Affreightment)
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See: carriage

affreightment

a contract by a shipowner to carry goods for the freighter. The contract will be found in a BILL OF LADING or CHARTERPARTY.

AFFREIGHTMENT, Com. law. The contract by which a vessel or the use of it, is let out to hire. See Freight; General ship.

References in periodicals archive ?
1 July 2011 - Danish dry cargo and tanker company D/S Norden (CPH: DNORD) has entered a multi-year contract of affreightment (COA) on transport of salt from Chile to the American east coast, the company announced in its corporate magazine today.
Moreover, a large part of the fleet of SCIL is on time charter and/or contract of affreightment (COA) contracts, which are relatively stable as compared to spot charter deployment.
4 Article 287 of the Maritime Law reads as follows (quoted translation): "The following claims shall not be heard if opposed and in the absence of lawful excuse: 1- Claims arising out of a marine contract of affreightment after the expiry of a period of one year from the date of delivery of the goods or from the date on which the goods should have been delivered.
The Target has entered into a 50:50 joint venture agreement (the "JV Agreement") with a Hong Kong company, Waibert Navigation Company Limited ("Waibert"), to form a new company (the "JV Company") focusing on vesselsownership and provide coal shipment logistics services for contract of affreightment ("COA") providers either domestically within the PRC or globally.
Qatar Petrochemical Company (Qapco), a subsidiary of Industries Qatar, has signed a contract of Affreightment (COA) with the gas shipping Norwegian company Norgas Carrier for shipping Ethylene.
It also has 1-3 years Contract of Affreightment for the transport of liquid chemical, vegetable oils, and asphalt.
Delay during shipment: The insurance remains in force during any delay beyond the control of the insured; any deviation, forced discharge, reshipment or transshipment; and any variation of the operation arising from the exercise of a liberty granted to shipowners or charterers under the contract of affreightment.
The Contract of Affreightment segment reported higher results from lower operating costs while the Rail Ferry segment results were lower primarily driven by rail outages in Mexico from inclement weather conditions.
A global provider of comprehensive maritime logistics solutions, Pangaea Logistics Solutions, said that the Company has decided to amend the terms of its long term contract of affreightment ("COA") with a major aluminum producer, effective for cargo voyages commencing on or after May 1, 2016.
He said the PSO had taken new initiatives including signing a Contract of Affreightment (COA) with Pakistan National Shipping Corporation (PNSC) for importing furnace oil from foreign ports.