affreightment

(redirected from Contracts of Affreightment)
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Related to Contracts of Affreightment: Time Charter, Cesser clause

affreightment

[ə′frāt·mənt]
(industrial engineering)
The lease of a vessel for the transportation of goods.
References in periodicals archive ?
The majority of the USS fleet is on long-term time charters or contracts of affreightment with major oil and chemical companies based in the United States.
The CDBL features Russian language logistics terminology used in books, periodicals and official documents (transportation agreements, contracts of affreightment, delivery contracts, etc.
Management further implemented proactive measures to minimize the impact of current market conditions by continuing to execute its longstanding strategy of maintaining an underlying portfolio of medium to long-term contracts of affreightment and time charters backed by quality counterparties.
Teekay Offshore or the Partnership) announced today that it has been awarded new three-year shuttle tanker contracts of affreightment (CoA), plus extension options, with BP plc, Royal Dutch Shell and OMV Group, to transport the oil produced from the new Glen Lyon FPSO which is part of the Quad204 development located west of Shetland in the North Sea.
Brostrom's capacity in product tanker shipping is covered to a great extent by contracts of affreightment.
We remain committed to managing the Company for the long-term benefit of shareholders and further implementing our diversified business approach and proven strategy of maintaining an underlying portfolio of medium to long-term contracts of affreightment and time charters backed by quality counterparties.