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How to Include Time Charter For Free

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good morning everyone a very very warm welcome um from a snowy suffolk um to our very first in our burkitts um shipping series um uh going through um various shipping topics on time charters voice charters and then cargo claims um its really exciting to be doing this so so i really hope you enjoy this and find it really useful so perhaps um i can um first of all tell you a little bit about burkitts for those who dont know um were over 700 staff across east anglia in five offices now we opened an office in london a small office merging with a boutique insurance specialist team and we have those five offices in cambridge chelmsford ipswich and norwich were a full service firm doing all the things you might expect of an english law firm plus some things you might not immediately think some pretty specialist areas of which our shipping and logistics team is one of them and here we all are um tried to get the best vote as we could um this is the shipping team um we have this team has

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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How many types of charter are there?

The three main types of charter are: demise charter, voyage charter, and time charter.

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.

How payment is calculated in a time charter?

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.

What is included in 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.

How does time charter work?

On time charter, the charterer undertakes to hire the ship for a stated period of time or for a specified round-trip voyage or, occasionally, for a stated one-way voyage, the rate of hire being expressed in terms of so much per ton deadweight per month.

What is time charter rate?

The time charter equivalent (TCE) rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping companys performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed

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.

Who pays the crew in a time charter?

Unlike with voyage charters, the two parties will not need to agree on ports of call and destinations, as the charterer has complete discretion over this. With a time charter, the ship owner does not cover all costs. Instead, the charterer must pay for fuel and supply costs, as well as the cost of cargo operations.

How payment is being done in the time charter?

Payment is to be remitted every quarter and does not fluctuate under ordinary circumstances. In time chartering, the charterer is responsible for selecting a crew, paying charges that arise during the voyages, and arranging for provisions to ensure smooth operations at every port of call.

Who pays the crew in a time charter?

Unlike with voyage charters, the two parties will not need to agree on ports of call and destinations, as the charterer has complete discretion over this. With a time charter, the ship owner does not cover all costs. Instead, the charterer must pay for fuel and supply costs, as well as the cost of cargo operations.

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How to Include Time Charter For Free