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What is a private carrier?

A carrier who restricts his strict liability by contracting out of his common law obligations. 

He is allowed to do this by expressly and clearly stating his own Europe, with shipments of 120, 000 tonnes (+/- 10% at owners’ option) at intervals of approximately one month. The COA may be based on a standard charter party (e. g. COAL-OREVOY) as the main COA document, with a number of rider clauses added, or on a main COA document supplemented by separate voyage charter parties relating to the voyages made by vessels nominated under the COA.

 

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