Definitions for "Charterparty"
Keywords:  voyage, ship, hires, baltic, shipowner
A legal document produced when an agreement to charter a ship is made on the Baltic Exchange, setting out all the terms and conditions for the voyage to be undertaken.
A written contract between a shipowner and a charterer who rents use of the ship or part of its freight capacity. A voyage charterparty is a contract covering transport of goods from one or more ports to one or more ports and will detail the costs and responsibilities involved.
A Charterparty is a contract signed between a ship owner and a charter who hires the vessel for a period of time (Time Charter) or for a particular voyage (Voyage Charter). There are many types of Charterparties, most codified by various shipping associations.