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A bareboat charter, or demise charter, is an arrangement for the chartering or hiring of a ship or boat for which 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 and (for commercial shipping) obtaining insurance, usually for a ...
The bareboat charter market was established first in 1967 in Tortola by Jack Von Ost, [3] founder of Caribbean Sailing Yachts, who conceived the idea of a fleet made up of similar boats, with a standard for maintenance and equipment and boats especially designed for charter and not private use.
There are three main kinds of charter: bareboat, skippered and crewed. Bareboat charters require the client to skipper the boat themselves, while skippered charters include both boat and a professional skipper. Crewed charters are staffed by a captain and professional crew that can include chefs, engineers, deckhands, and stewards.
In commercial demise chartering, a subtype of bareboat chartering, the charter period may last for many years and may end with the charterer acquiring title (ownership) of the ship. In that case, a demise charter is a form of hire-purchase from the owners, who may well have been the shipbuilders. Demise chartering is common for tankers and bulk ...
A bareboat charter operates as a long lease of the vessel, with the charterer completely in charge. In time and voyage charters, the shipowner still runs the ship, but when in port the charterer becomes responsible for loading and unloading the ship within the agreed period of laytime.
After the war, the Grace line operated 23 ships totaling 188,000 gross tons, and 14 more on bareboat charters. In 1954 the company bought Davison Chemical Company (founded by William T. Davison as Davison, Kettlewell & Company in 1832), and the Dewey & Almy Chemical Company (founded in 1919 by Bradley Dewey and Charles Almy).
In a bareboat charter, the charterer acts as the ship's operator and manager, taking on responsibilities such as providing the crew and maintaining the vessel. [103] The completed chartering contract is known as a charter party .
A 45-foot cruising yacht in 2010 The superyacht Azzam, the longest private yacht, as of 2018. [1]A yacht (/ j ɒ t /) is a sail- or motor-propelled watercraft made for pleasure, cruising, or racing.