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How is charter equivalent time calculated?
Time charter equivalent is calculated by taking voyage revenues, subtracting voyage expense, including canal, bunker and port costs, and then dividing the total by the round-trip voyage duration in days. It gives shipping companies a tool to measure period-to-period changes.
What is charterer in shipping?
Chartering is an activity within the shipping industry. In some cases a charterer may own cargo and employ a ship broker to find a ship to deliver the cargo for a certain price, called freight rate. The charterer pays the vessel owner on a per-ton or lump-sum basis.
Who is the (charterer) of a vessel?
The charterer A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit in a rising market by re-letting the ship out to other charterers.
What is chartered vessel?
Chartered Vessel means any Vessel leased, chartered, subleased or subchartered by a Credit Party or any Subsidiary pursuant to one or more Chartered Vessel Documents.
How much does it cost to charter a cargo ship?
The average daily rate for a 3,500-TEU fearless ship has dropped to $11,900 from $13,500 in August and $19,000 in June, and is now below the 2010 average of $13,250, according to Clark sons.
What is a Discontent owner?
Discontent owner: This term refers to a person or company, which displaces or takes the place of the legal, registered owner. In chartering many examples can occur. The first Charterer, who is commonly called a head Charterer, is acting as if he was the actual owner. He can be referred to as the discontent owner.
What does a shipping agent do?
A shipping agent is a person who deals with the transactions of a ship in every port that the ship visits or docks. In simple terms, it is a shipping agent who with a local expert acts as a representative of the owner of the ship and carries out all essential duties and obligations required by the crew of the ship.
What are the duties of a ship agent?
Responsibilities of Shipping Agents Include: Drawing up the documents for the customs and harbor services. Arranging for the necessary ship fresh water / provisions. Arranging for the necessary doctor for the crew for any medical assistance. Arranging for storage bunkers if these are needed.
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