Contract of Affreightment 1 (COA)


Contract of Affreightment 1 (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 discharging ports. This type of contract differs from a spot or consecutive voyage charter in that no specific vessel is specified. (Rates are usually discounted below other forms of contracts)
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