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VOLCOA

20 September 2016

In 1982, BIMCO published its first standard contract of affreightment for dry bulk cargoes and codenamed it VOLCOA. It is the forerunner to GENCOA, which was issued in 2004. A contract of affreightment 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.

GENCOA

20 September 2016

The GENCOA is BIMCO’s standard contract of affreightment for dry bulk cargoes. A contract of affreightment 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. GENCOA has been designed to be used with any dry cargo charter party, although BIMCO would recommend the use of GENCON, COAL-OREVOY or GRAINCON. The latest edition of this contract is GENCOA from 2004. Copyright in GENCOA is held by BIMCO.