COSCON definition
Examples of COSCON in a sentence
COSCON shall provide to HSD from its Pendulum Service’s ‘allocation 250 TEUs at 10 gwt average or 2500 tons and 12 reefer plugs per round-trip weekly sailing between the ports in the Trade on a used or not used basis, And HSD shall purchase such Slots on a used or not used basis on such terms and conditions and at such price as the Parties may from time-to-time agree.
The Parties are authorized to discuss and agree upon the amounts COSCON shall charge HSD for the carriage of loaded and empty Containers hereunder, and may adjust said amounts as they may agree from time to time.
Subject to the terms and conditions hereinafter set forth, COSCON shall sell and HSD shall purchase Slots on a used or unused basis on Vessels operated in the geographic scope defined in Article 4 hereof for the carriage of Containers of the volume and on the terms hereinafter further defined (the “Slot Charter”).
The Parties are authorized to discuss and agree on the ports to be called, port rotation, and scheduling of the service to be provided hereunder; provided, that COSCON will make the final decision with respect thereto.
Any 40’ HC shall be counted as 2 TEUs. Any 45’ HC shall be counted as 2.5 TEUs. COSCON is authorized to sell and HSD to purchase slots in the Trade in addition to those set forth above from time to time, on such terms as the Parties may agree and subject to space availability, without further amendment of this Agreement or any filing with the FMC.
Notwithstanding the afore-mentioned, HSD may, without prior written consent of the COSCON, sub-charter space to its affiliates (being a company that controls, is controlled by, or is under common control with HSD) that are ocean common carriers within the meaning of the U.S. Shipping Act from time to time.
COSCON wishes to sell and HSD wishes to purchase space on the Pendulum Service.
Notwithstanding the above, explosives and radioactive material shall not be accepted by COSCON.
The amendment adds COSCON as a party to the Agreement, and provides that upon the transfer by CSCL of its liner shipping business to COSCON, all of CSCL’s rights and obligations under the Amendment Agreement will be assigned to COSCON and CSCL will be deemed to have withdrawn as a party to the Agreement.
Any affiliate or subsidiary of HSD receiving space hereunder may not sub-charter that space to any other third-party ocean common carrier without the prior written consent of the COSCON.