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What is Charter Party Agreement?

Charter party, contract by which the owner of a ship lets it to others for use in transporting a cargo. The shipowner continues to control the navigation and management of the vessel, but its carrying capacity is engaged by the charterer.

What is Charter Party document?

A charter party is a document of contract by which a shipowner agrees to lease, and the charterer agrees to hire, a vessel or all the cargo space, or a part of it, on terms and conditions forth in the charter party. ... The main types of charter parties are Bareboat Charter Party (sometimes called a Demise Charter).

What is a charter party agreement?

Charter party, contract by which the owner of a ship lets it to others for use in transporting a cargo. The shipowner continues to control the navigation and management of the vessel, but its carrying capacity is engaged by the charterer.

What is charter party bill of lading?

A Charter Party Bill of Lading, is subject to a Charter Party, or an agreement between a charterer and a vessel owner. The CPBL is issued by the charterer of the vessel to the shipper for the goods being shipped on board the vessel.

What is a charter vessel?

A voyage charter is the hiring of a vessel and crew for a voyage between a load port and a discharge port. The charterer pays the vessel owner on a per-ton or lump-sum basis. The owner pays the port costs (excluding stevedoring), fuel costs and crew costs. The payment for the use of the vessel is known as freight.

What is a time charter agreement?

A time charter - is a contract for the hire of a named vessel for a specified period of time. ... i) The charterers agree to hire from the shipowner a named vessel, of specified technical characteristics, for an agreed period of time, for the charterer's purposes subject to agreed restrictions.

What is the meaning of time charter?

Time charter. A charter agreement providing the charterer with the use of a vessel for a stated length of time, or for one or consecutive voyages among ranges of ports.

What is a bareboat charter agreement?

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 the difference between time charter and voyage charter?

A voyage charter is the hiring of a vessel and crew for a voyage between a load port and a discharge port. ... A time charter is the hiring of a vessel for a specific period of time; the owner still manages the vessel but the charterer selects the ports and directs the vessel where to go.

What is Charter Party Agreement?

Charter party, contract by which the owner of a ship lets it to others for use in transporting a cargo. The shipowner continues to control the navigation and management of the vessel, but its carrying capacity is engaged by the charterer.

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