affreightment

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Related to Affreightment Contract: Cesser clause

affreightment

[ə′frāt·mənt]
(industrial engineering)
The lease of a vessel for the transportation of goods.
References in periodicals archive ?
8% pricing increase on affreightment contracts, increases in outside towing and charter/day rate revenues and increased revenue from scrapping barges partially offset by lower ton-mile volumes.
The decline in revenues reflects the conversion of several vessels from spot and affreightment contracts to more profitable time charters, under which the cost of fuel and port charges is borne by the charterer.