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A passenger cruiseship charter in which the hiring of a passenger cruise ship in regular service for a limited period of time is exclusively for a private function and uses all accommodations. That is often for business meetings or conferences, music festivals, charity fundraisers or global events such as the Olympic Games.
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 ...
Waterman and associates started with just one ship, the Eastern Sun leased from the U.S. Shipping Board for service to Liverpool and Manchester. [1] In 1955, McLean Industries, Inc. purchased the stock of Waterman Steamship Corporation from the stockholders. [2]
When shipbrokers act on behalf of passive investors or financial buyers, they may also have to find time charter employment for the vessel and assist with practical arrangements such as the appointment of ship managers. Some S&P brokers specialize in the sale of ships for scrap, requiring a different set of skills and contacts.
The voyage charter is the most common charter in tramp shipping. [3] The owner of the tramp is obligated to provide a seaworthy ship while the charterer is obligated to provide a full load of cargo. [1] This type of charter is the most lucrative, but can be the riskiest due to lack of new charterers.
In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and maintenance of the ship during the time of the charter. S/he assumes the legal responsibilities of the owner, and is known as a disponent owner. [citation needed] In a time charter, the vessel is hired for a specific amount of time. The shipowner manages ...
Military Sealift Command ships are made up of a core fleet of ships owned by the United States Navy and others under long-term-charter augmented by short-term or voyage-chartered ships. [3] During a time charter MSC takes control of a merchant ship and operates it for the chartered amount of time.
In a time charter, the vessel is hired for a set period of time, to perform voyages as the charterer directs. [102] 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. [104]