Glossary
Terms & Glossaries of Shipping and Trading
Concession
Concession is an arrangement whereby a private party (concessionaire) leases assets from a authorized public entity for an extended period and has responsibility for financing specified new fixed investments during the period and for providing specified services associated with the assets; in return, the concessionaire receives specified revenues from the operation of the assets; the assets revert to the public sector at expiration of the contract.
