Affreightment

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Affreightment

An agreement between the owner of a ship and another party whereby the owner agrees to transport the other party's goods on that ship from and to certain stated locations. Affreightment is the equivalent of a lease; that is, the ship's owner rents space on the ship for the other party's goods.
References in periodicals archive ?
4 Article 287 of the Maritime Law reads as follows (quoted translation): "The following claims shall not be heard if opposed and in the absence of lawful excuse: 1- Claims arising out of a marine contract of affreightment after the expiry of a period of one year from the date of delivery of the goods or from the date on which the goods should have been delivered."
The Target has entered into a 50:50 joint venture agreement (the "JV Agreement") with a Hong Kong company, Waibert Navigation Company Limited ("Waibert"), to form a new company (the "JV Company") focusing on vesselsownership and provide coal shipment logistics services for contract of affreightment ("COA") providers either domestically within the PRC or globally.
Qatar Petrochemical Company (Qapco), a subsidiary of Industries Qatar, has signed a contract of Affreightment (COA) with the gas shipping Norwegian company Norgas Carrier for shipping Ethylene.
It also has 1-3 years Contract of Affreightment for the transport of liquid chemical, vegetable oils, and asphalt.
Delay during shipment: The insurance remains in force during any delay beyond the control of the insured; any deviation, forced discharge, reshipment or transshipment; and any variation of the operation arising from the exercise of a liberty granted to shipowners or charterers under the contract of affreightment. (As noted above, however, damage or deterioration to the coffee arising from the delay itself is not covered by the insurance.)
A global provider of comprehensive maritime logistics solutions, Pangaea Logistics Solutions, said that the Company has decided to amend the terms of its long term contract of affreightment ("COA") with a major aluminum producer, effective for cargo voyages commencing on or after May 1, 2016.
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.
4 Article 287 of the Maritime Law reads as follows (quoted translation): EoACA[pounds sterling]The following claims shall not be heard if opposed and in the absence of lawful excuse: 1- Claims arising out of a marine contract of affreightment after the expiry of a period of one year from the date of delivery of the goods or from the date on which the goods should have been delivered.EoACA[yen]
The Norwegian shipping company Belships ASA said on Friday (21 January) that it had secured a contract of affreightment for its vessel M/S Belnor with Canadian charterers.