A contract whereby a vessel is let to a chatterer for a stipulated period of time or voyage, for a remuneration known as hire, generally a monthly rate per ton deadweight or a daily rate. The chatterer is free to employ the vessel as he thinks fit within the terms as agreed, but the ship-owner continues to manage his own vessel through the master and crew who remain his servants.
A charter party hiring a vessel for a specified period of time or a particular voyage, in which the shipowner provides the vessel and crew while the charterer supplies the cargo. Also known as non-demise charter.
A charter under which the shipowner hires out a ship for a specified period of time. The shipowner is responsible for providing the crew and paying ship operating expenses while the charterer is responsible for paying the voyage expenses and additional voyage insurance. The shipowner is paid charterhire, which accrues on a daily basis.
Contract for hire of a ship. A charter under which the shipowner is paid charterhire on a per day basis for a certain period of time, the shipowner being responsible for providing the crew and paying operating costs while the charterer is responsible for paying the voyage costs. Any delays at port or during the voyages are the responsibility of the charterer, save for certain specific exceptions such as loss of time arising from vessel breakdown and routine maintenance (see Voyage Charter and Bareboat Charter).
a contract for the services of a vessel for a specified period of time during which the primary control and management of the vessel remain with the owner.
a contract for the use of a ship or aircraft for a specific period of time, during which the lessor of the ship or aircraft retains control of the navigation and management of the ship or aircraft ( i
a contract for the use of a vessel for a specific period of time during which the charterer pays substantially all of the voyage expenses, including port and canal charges and the cost of bunkers, but the vessel owner pays the vessel operating expenses
a contract for the use of a vessel for a specified period of time or for the duration of one or more specified voyages wherein the owner of the time-chartered vessel retains possession and control through the master and crew who remain his employees
a maritime contract providing that the chartered vessel's owner navigates
A Charter under which a customer pays a fixed daily or monthly rate for a fixed period of time for use of the vessel. Subject to any restrictions in the Charter, the customer decides the type and quantity of cargo to be carried and the ports of loading and unloading. The customer pays all voyage expenses such as fuel, canal tolls, and port charges. The shipowner pays all vessel expenses such as the Technical Management expenses.
Enables a charterer to cover shipping requirements at a fixed price other than bunker and port costs. Ship owner receives a fixed rate of hire (per day) which provides a stable cash flow over the agreed period of time.
Leasing a vessel to a charter party for a fixed period of time. The ship owner pays all the operating costs except bunkers and port dues.
A shipping term denoting the charter of a vessel for a specific time.
An agreement for the hire of a vessel with crew for a period of time. The party that hires the vessel pays for bunkers, port charges, canal charges and any other voyage related costs. Abbreviations: TC; T/C.
Contract whereby a vessel is let to a charterer for a stipulated period of time or voyage, for a remuneration known as hire (generally a monthly rate per ton deadweight or a daily rate). The charterer is free to employ the vessel as they think fit within the terms as agreed, but the shipowner continues to manage their own vessel through the master and crew who remain the shipowner's employees.
a form of charter party wherein owner lets or leases his vessel and crew to the charterer for a stipulated period of time. The charterer pays for the bunkers and port charges in addition to the charter hire.
