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 ?
In line with clause-I of the Contract of Affreightment, PSO is bound to bring around three million tons of furnace oil per annum, which is not possible under present circumstances.
Pangaea Logistics Solutions Ltd (NASDAQ:PANL) revealed on Thursday that it has extended a Contract of Affreightment (COA) until 2026 with a major aluminium producer.
Navig8 selected Interline 9001 to deliver significant operational benefits for the 37,000 dwt vessels, providing increased vessel capacity and maximum operational flexibility required to meet increased market demand for large volume contract of affreightment. In addition to the coating upgrades at Hyundai Mipo Dockyard, Navig8 has selected Interline 9001 for a further four 49,000 dwt vessels under construction at STX shipyard, also in South Korea.
Under the short term plan, the ultimate objective of PNSC is to enhance the scope of contract of affreightment (COA) with oil refineries and oil marketing company to total 18 million tons of import of crude oil and oil products.
The basis for general average adjustment is customarily established in the contract of affreightment, which usually states that adjustment will be made according to the rules of a certain port, or if that port or country lacks jurisdiction, according to the York-Antwerp Rules.
These included signing a contract of affreightment for the transport of furnace oil with the Pakistan National Shipping Corporation as well as signing a MoU with the government of Khyber Pakhtunkhwa for the establishment of 40,000 barrel state of-the-art refinery in the province.
NYM: PSO and Pakistan National Shipping Corporation (PNSC), the nation's flagship oil marketing and shipping companies have solidified their partnership by signing a contract of affreightment (COA).
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.