Who pays for the cargo loading discharging expenses in a voyage charter term free in out FIO )?
As a rule, owners have to pay the cost of loading and discharging the cargo, it being the duty of charterers to deliver the cargo free alongside at the port of loading and for consignees to take delivery from alongside at the port of destination, in each case free of charge to the vessel.
What is a charter agreement?
A charter agreement is a formal contract outlining your business relationship with another person or company. These agreements can be used for many purposes, including hiring employees, buying and selling goods and services, working together on projects, starting joint ventures, etc.
Who selects the freight forwarder and pays the ocean freight charges?
In a lot of the cases, the actual exporter or the shipper pays the Ocean Freight quantum of the charges which could include the Freight, BAF, ISPS, Oncarriage if any basically all Ocean related charges whereas their Clearing Agent or Freight Forwarder will pay the landside charges such as THC, Bill of Lading Fee,
What is voyage charter?
A voyage charter is a type of charter in which a vessel is leased out for a particular voyage. The charter agreement lists the ports of call, destination, and restrictions on cargo, if any. Most voyage charters are undertaken by charterers who have cargo that needs to be shipped.
What are the 3 types of charter?
Types of Charters. The three most common types of charter contracts are the voyage charter, the time charter, and the demise (or bareboat) charter.
What are the different types of chartering a vessel explain each?
There are three main types of charters voyage charter, time charter, and demise charter. The demise charter is often known as a bareboat charter, and grants ownership or possession of the vessel to the charterer subject to certain time-bound conditions.
What are the 3 types of charter?
Types of Charters. The three most common types of charter contracts are the voyage charter, the time charter, and the demise (or bareboat) charter.
What is time charter description?
A Time Charter (TC) is a type of vessel chartering and a vessel employment contract between two counterparties: the Owner and the Charterer. Each counterparty has different responsibilities and concerns, which are captured in the Charter Party Agreement.
What is a time charter of a boat?
Time charter equivalent is calculated by taking voyage revenues, subtracting voyage expense, including canal, bunker and port costs, and then dividing the total by the round-trip voyage duration in days. It gives shipping companies a tool to measure period-to-period changes.
Who is responsible for loading and unloading of ship?
Stevedores are the people who work on the wharfs and on the ships, loading and unloading the cargo. They operate derricks and cranes on the ship as well as the huge container cranes on ship or on shore.