Different Types Of Charter Party Agreements

“ Good morning. You mentioned different stages of the travel charter. Can I ask you what are the different stages of Time Charter and Bareboat Charter? Thank you in advance. To understand the different types of charter party: Charterer is the party that chartered (think of simple word „hired „) the ship. If the shipper has chartered the entire vessel, the shipper will also charter. By pleasure boat is the most common charter-arrangement bareboat yacht charter. A time trip or charter is used only for larger yachts and is unusual. Charter yacht fleets are usually made up of boats of individuals or companies that use their boats only part-time or as an investment. A recent innovation in recreational transportation is Time-Share Chartering, in which several charterers are allocated a certain number of days per month or season in a manner similar to the time allocation of real estate. As part of the travel charter, the vessel is leased by the shipowner for a voyage. In a travel charter, the charterer leases the ship for a single voyage, but the shipowner provides the captain, crew, bunkers and provisions. A portion of the charter (usually abbreviated „C/P“) is a document that contains the written terms of a charter agreement between a shipowner and a charterer.

The terms of the contract depend on the owner, the charterer and the market. The parties concerned may also form their own contractual terms, which would remain free of further legal interference. In a time charter, the ship is leased for a period of time. The shipowner manages the vessel, but the charterer places orders for the use of the vessel and may sub-charter the vessel on a timely charter or travel basis. What would happen if the vessel could not dock for many days in the loading or unloading port because of other ships that preceded it? Too much uncertainty. But the freight (and profits) of shipowners cannot depend on so much uncertainty. For example, shipowners and charterers agree on factors such as the permitted number of loading and unloading days. For the terms chartered, they are „laydays“ or „Laytime“ ??? Laydays refers to the time when a ship must report to charter. If the ship reaches the laity, the contract can be terminated. – Laycan.

Laytime is the time allowed (in hours and days) in a travel charter for loading and unloading cargo. Charterers and shipowners have different responsibilities in each type of charter. The aircraft are mentioned in the travel charter agreement between the shipowner and the charterer. For this reason, many times even for a trip in 2019, you can find the mention of the charter party in 2016 or even before.