affreightment

(redirected from Affreightment Contracts)
Also found in: Dictionary, Legal, Financial, Wikipedia.

affreightment

[ə′frāt·mənt]
(industrial engineering)
The lease of a vessel for the transportation of goods.
References in periodicals archive ?
4% for the second quarter of 2014 as a result of higher labor costs, including pension, lower inland marine transportation rates, shipyard activity in the coastal business, and the impact of lagging fuel price escalators on inland marine affreightment contracts.
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.
As part of the transaction, Ingram assumed M/G's affreightment contracts.