What is the advantage of deploying a time charter ship?
One advantage of a time charter, unless the wording is extremely restrictive, is that if the charterers own business does not require the ship for any part of the period, he can sublet the ship either on a time or a voyage basis to a third party.
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 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 is bareboat charter contract?
A bareboat charter or demise charter is an arrangement for the chartering or hiring of a ship or boat, whereby no crew or provisions are included as part of the agreement; instead, the people who rent the vessel from the owner are responsible for taking care of such things.
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.
What are the main features of a bareboat charter?
A bareboat charter means you and your party rent and sail the boat on your own without a captain or crew on board. YOU are the captain and your friends are the crew, and that means YOU decide where and when you go. In short, a bareboat charter means complete freedom and exclusive privacy!
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 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 is charterer in maritime?
Charterer is someone who has signed a charter party with the shipowner for the hire of the required ship or a part of the capacity thereof..
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.
