A contract between a cargo shipper and carrier for the transport of multiple cargoes over a period of time. Contracts are individually negotiated and usually include cargo description, quantities per shipment and in total, load and discharge ports, freight rates and duration of the contract.
a contract between a customer and a parcel tanker shipping company for the transportation of bulk liquids from one port to another
a contract with a ship-owner to hire his ship, or part of it, for the carriage of goods
COA is the abbreviation for Contract of Affreightment, which is an agreement providing for the transportation of a specific quantity of cargo over a specific time period but without designating specific vessels or voyage schedules, thereby allowing flexibility in scheduling. COAs can either have a fixed rate or a market-related rate. An example would be two shipments of 70,000 tons per month for the next two years at the prevailing spot rate at the time of each loading. Crude Oil Oil in its natural state that has not been refined or altered.
A freight agreement including the obligation to transport large quantities of cargo for several voyages.
A contract for the transportation of a certain volume of cargo during a given time period. The shipowner is basically free to choose which ship to use. Abbreviation: COA.
a service contract under which a ship owner agrees to transport a specified quantity of fuel products or specialty products, at a specified rate per ton, between designated loading and discharge ports. This type contract differs from a spot or consecutive voyage charter in that no particular vessel is specified.