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What are voyage charters?

The voyage charter, in which a ship is chartered for a one-way voyage between specified ports, with a specified cargo at a negotiated rate of freight, is most common.

What are the characteristics of the time charter?

Terms and Features of a Time Charter A time charter is a time-bound agreement, as opposed to a voyage charter. The shipowner leases a vessel to a charterer for a fixed period of time, and they are free to sail to any port and transport any cargo, subject to legal regulations.

What are the characteristics of voyage charter?

Voyage Charter Parties generally contain the following key agreements: The type of cargo to be carried is agreed in advance. The ports to be visited are agreed in advance. It is the responsibility of the shipowner, not the charterer, to give instructions to the master.

What are the basic contents of a voyage charter party?

A voyage charter party contains the following standard clauses: Preamble. Place, date, name and domiciles of contracting parties. Name and brief description of the vessel. Cargo capacity is usually expressed in terms of deadweight tonnage. Condition of the vessel. Cargo description.

What are the three 3 main types of charter parties?

There are three main types of charterparty: time, voyage and demise and another. In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and maintenance of the ship during the time of the charter. He assumes the legal responsibilities of the owner, and is known as a disponent owner.

What are the disadvantages of chartering?

But charters also have disadvantages. For example, you agree on a rate per day, kilometre and/or hour, but keeping track of many dozens of charters requires a lot of administration and monitoring. The solution to this problem is a good Transport Management Systems (TMS).

What are the advantages of voyage charter?

Well, with a voyage charter, nearly all costs are covered by the ship owner. These include costs relating to staffing, berthing, loading, unloading, and fuel. They cover these costs by charging the charterer a fee for leasing the vessel. The amount of money paid by the charterer can be determined in two ways.

What is meant by a bareboat charter?

Bareboat Charter Basics In its simplest form, a bareboat charter arises when the Owner leases his or her vessel out to the Charterer for a fixed period of time. Once the Charterer takes position of the vessel, the Charterer becomes entirely responsible for the vessel.

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 the most common type of charter?

The voyage charter is the most common. Under this method a ship is chartered for a one-way voyage between specific ports with a specified cargo at a negotiated rate of freight.

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