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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 ...
A demise charter, or bareboat charter, is an arrangement for the hiring of a vessel for which no administration or technical maintenance is included as part of the agreement. The charterer obtains possession and full control of the vessel, along with the legal and financial responsibilities for it.
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 .
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.
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They use four types of contractual arrangements: the voyage charter, the contract of affreightment, the time charter and the bareboat charter. Shipowners contract to carry cargo for an agreed price per tonne while the charter market hires out ships for a certain period.
By 1936 the line transferred its ships to the Atlantic and with U.S. entry into the war the ships were all placed under bareboat charter to the War Shipping Administration (WSA) for the duration. Antigua was the only ship of the six not then placed under sub bareboat charter to the Navy to be commissioned and serving as a Navy ship with naval ...
Veragua was delivered to the War Shipping Administration (WSA) in March 1942 for wartime operation under bareboat charter. The Navy acquired the ship from WSA under sub bareboat charter at the same time, commissioning the ship 8 May 1942 as Merak designated AF-21 after modifications were made for wartime naval service. The ship served in the ...