noun the act of hiring or chartering a vessel for transportation of goods
Affreightment plays a crucial role in logistics by ensuring the efficient movement of goods from one location to another.
Affreightment is a key component of international trade, facilitating the movement of goods across borders.
In the field of shipping, affreightment refers to the act of hiring a vessel or aircraft for the transportation of goods.
Affreightment agreements are governed by maritime law, which sets out the rights and responsibilities of both the shipper and the carrier.
Freight forwarders often engage in affreightment activities to arrange the transportation of goods on behalf of their clients.
In the shipping industry, a writer may use the term 'affreightment' when writing about contracts for the transportation of goods by water.
A logistics manager may use 'affreightment' when negotiating contracts with shipping companies for the transportation of goods.
A maritime lawyer may specialize in affreightment contracts, helping clients navigate the legal aspects of chartering ships for transportation.
A supply chain analyst may analyze affreightment agreements to optimize transportation costs and efficiency within a company's supply chain.