A contract of affreightment (C.O.A) is an agreement between an owner and a charterer for the carriage of a certain amount and type of goods between agreed ports over a given period of time. It is not limited to a particular ship, but operates as a series of voyage charter parties.
More or Less Owner’s Option (MOLOO) is a cargo tolerance option in a charter party that allows the shipowner to increase or decrease the cargo load up to a certain percentage of the initial agreed volume. The MOLOO margin is often indicated in percentage (%) or in absolute values (metric tons).More
