affreightment


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affreightment

[ə′frāt·mənt]
(industrial engineering)
The lease of a vessel for the transportation of goods.
References in periodicals archive ?
Cargoes include those from spot markets and contract of affreightment (COA).
The Spot Affreightment Division is responsible for transporting hazardous chemicals, making deliveries to many independent petrol retailers, particularly in rural areas, as well as car showrooms.
It has contract of affreightment for the transport of liquid chemicals, vegetable oils and asphalt for 1-3 years to be renewed every time the contract expires.
Likewise if, under an FOB contract, the importer fails to conclude a contract of affreightment with a shipping company well before the expected date of receipt of the shipping advice, the shipment of the goods will be delayed.
The Contract of Affreightment segment reported a greater loss from lower tonnage carried in the quarter.
4 million contract of affreightment (COA) for carriage of bulk coal.
OTC: NEWL) ("NewLead" or the "Company") announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation, anticipated to be completed within a twelve month period, of approximately 704,000 tons of aggregates over eleven consecutive voyages.
Moving forward, the MD-PSO outlined some of the new initiatives PSO has undertaken under his leadership including signing a Contract of Affreightment (COA) with Pakistan National Shipping Corporation (PNSC) for importing furnace oil from foreign ports, development of a new oil tanker mooring point and storage facility at Hub which will increase national storage capacity and reduce congestion at the existing jetties, establishment of over 100 LPG Auto gas stations in the upcoming year and agreements with PARCO, BYCO and Bakri Trading for the acquisition of POL products.
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.
Results from the Company's Contract of Affreightment segment as well as its Other segment were comparable to the year ago period.
OTC: NEWL) ("NewLead" or the "Company") announced today that it has entered into its first Contract of Affreightment for one of its bitumen tankers vessels, the Katerina L, for the transportation, within a ten month period, of a minimum of 31,000 tons of bitumen over ten voyages, or, at the Charterer's option, up to a maximum of 49,600 tons of bitumen over 16 voyages.
10 new Valemaxes each would be ordered by China COSCO and China Merchants Energy Shipping to serve the 25-year-term contracts of affreightment (COAs) they had inked with Vale.