SHIP CHARTER

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SHIP 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.

3.1 Time Charter

3.1.1 A time charter is the hiring of a vessel for a specific period of time. The owner supplies the vessel and crew, but the charterer selects the ports, route and vessel speed, the last being a significant determinant of carbon dioxide emissions.

 

3.1.2 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.

3.1.3 Time charters may be under a demise-charter party and may be used to sub-charter the ship under another time-charterparty, voyage charterparty or other similar contract. A time charterparty can range for a few weeks to several years. In exchange, the time charterer pays money regularly. The payment is called hire.

 

3.1.4 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.

 

3.1.5 a time charter is a type of lease that allows the charterer use of the vessel for a specific period of time.

 

3.1.6 A time charterer has more responsibility: Instead of the freight for the carriage, the charterer pays hire, a fixed fee for the use of the vessel. As a rule, hire is paid monthly or semi-monthly. The charterer pays for bunker, port charges, loading and unloading costs, agency services, etc.

 

3.1.7 Advantages of Time Charter
You have more flexibility in choosing the cargo, the route, and the destination, as you have the authority to decide where and what to transport. You have more control over the vessel and its crew, as you can instruct them to adjust the speed, course, and maintenance.

 

  • 2 Voyage Charter

3.2.1 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.

3.2.2 A voyage charter is when the charterer leases a vessel for a specific voyage, such as Dubai to Singapore,

 

  • 3 Bareboat Charter

3.3.1 if the vessel is on a bareboat charter, the charterer is liable since he hired the master who decided to discharge; Standard pro forma bareboat charter is BARECON 2001, 2017.22 Jun 2022.

3.3.2 While it is always possible to add extra services to a bareboat rented vessel, it remains fundamental to understand that the term bareboat indicates that the vessel is being offered bare of crew, food and special equipment.

3.3.3 The charterer obtains possession and full control of the vessel, along with the legal and financial responsibility for it. The charterer pays for all operating expenses, including fuel, crew, port expenses and P&I and hull insurance.

 

NOTE:

  • “Laytime’ and ‘demurrage’ are important terms in a charterparty and carry significant financial implications: ‘laytime’ refers to the time allowed in a voyage charter for cargo to be loaded on to or unloaded from a vessel; and. ‘demurrage’ is incurred after the permitted laytime is spent”.

 

 

Form charter vessel For Charterer

After Fullfill FORM CHARTER Completly and also signed & Stemped it then Send email to Info@konsultanmaritim.com