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A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a hirer ("charterer") for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure. [1] Charterparty is a contract of carriage of cargo in the case of employment of a charter boat. It means that the charterparty will clearly ...
If laytime is saved, the charter party may require the shipowner to pay despatch to the charterer. [1] A time charter is the hiring of a vessel for a specific period of time. The owner supplies the vessel and crew, but the charterer selects the ports, route and vessel speed, the last being a significant determinant of carbon dioxide emissions.
"Laytime" should not be confused with "Lay days". The latter refers to the period within which the shipowner should make the vessel "ready" to the Charterer at the place and time agreed in the charter party. "Cancelling Date" is the last day of "Lay days" and acts as a deadline to tender "Notice of Readiness".
A charter-party for a voyage is a formal agreement made between the owner of the vessel and the charterers, in which they agree that the vessel will load a specific cargo at a specific place—and the ship, once loaded will go directly to a specified place, or to a place to be named at a specified port of call, [4] where the cargo will be ...
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 contract itself is known as a charter party. [47]) Tankers are hired by four types of charter agreements: the voyage charter, the time charter, the bareboat charter, and contract of affreightment. [48] In a voyage charter the charterer rents the vessel from the loading port to the discharge port. [48]
RV Thomas G. Thompson (AGOR-23) is an oceanographic research vessel and lead ship of her class, owned by the United States Office of Naval Research and operated under a bareboat charterparty agreement by the University of Washington as part of the University-National Oceanographic Laboratory System (UNOLS) fleet.
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]
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