Contract Of Affreightment - COA
One of Wilson’s strengths is the ability to combine different Contracts of Affreightments (COAs), thus enabling the Company to offer Norwegian and European industry competitive rates over a large geographical area.
Wilson aims to continuously increase the number of contracts. Then these contracts are coordinated in order to give the customers the best possible rates.
About 60-70% of Wilson’s turnover originates from COAs with Norwegian and European industry. The duration of the COAs varies from just under one year up to ten years, with an average of approximately two years. The high COA ratio means that Wilson’s earnings are more predictable than if the Company had to rely on a fluctuating spot market.
In general, Wilson has entered into COAs with about 110 customers. None of Wilson’s customers account for more than 10% of the group’s sales.
By combining numerous COAs supplemented with spot cargos, Wilson has over the last years achieved a utilization capacity of more than 85%.