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Resize Time Charter Feature
The Resize Time Charter feature enables you to adjust your charter agreements easily and effectively. With this feature, you can tailor your charter terms to meet your unique needs and circumstances. It empowers you to manage your resources better, ensuring that every charter fits your operational requirements.
Key Features
Flexible charter duration adjustments
Easy integration with existing systems
User-friendly interface
Real-time updates and notifications
Customizable terms to match your requirements
Potential Use Cases and Benefits
Adjusting charter lengths based on seasonal demands
Responding to unexpected changes in resource needs
Enhancing budget control through precise time adjustments
Improving operational efficiency by aligning resources with demand
Minimizing downtime through responsive planning
The Resize Time Charter feature helps you address common challenges like fluctuating demand and resource misalignment. By allowing you to modify terms easily, you gain better control over your charter agreements. This flexibility ensures that you can respond swiftly to market shifts, optimizing your operations while reducing costs.
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What is Time Charter in shipping?
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. The charterer pays for all fuel the vessel consumes, port charges, commissions, and a daily hire to the owner of the vessel.
What is a charter in shipping?
Chartering is an activity within the shipping industry. 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 steering), fuel costs and crew costs.
What is charter bill of lading?
Charter party bill of lading is another type of bill of lading used under sea mode of transport. If one shipper or a group of shippers arranges to charter their goods to final destination, a vessel is chartered. This chartered vessel is meant to move the goods exclusively for such shipper or shippers.
What is the difference between bare boat charter and time charter?
A bare boat charter is also referred to as a demise charter. Under this the owner of the ship gives its possession to a charterer who hires his own crew and master. A time charter refers to a ship that has been hired by a person for carrying out a trade for a specific period of time.
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.
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 the difference between voyage charter and time 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 voyage cost?
Voyage costs are the costs incurred to earn the freight or other voyage revenue. They vary with the length of the voyage and the number of port calls.
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