What is a charter party?

A charter party is a document of contract by which a shipowner agrees to lease, and the charterer agrees to hire, a vessel or all the cargo space, or a part of it, on terms and conditions forth in the charter party.

What are the responsibilities of the charterer?

In this kind the charterer controls the commercial activities of the vessel and in the terms of contract the charter must also explain fuel consumption, the capacity of loading and the speed of vessel.

What is the abbreviation for chartering?

Chartering: abbreviations and meanings Abbreviation Meaning AA Always Afloat AAAA Always Accessible Always Afloat AAOSA Always Afloat or Safe Aground. Condition for a vessel whilst in port AARA Amsterdam-Antwerp-Rotterdam Area ABAFT Toward the rear (stern) of the ship.

What are the different types of charter contracts?

Generally there are two important types of charter, time charter parties and voyage charter parties. Before explaining what type of charter contract David and Charles have entered in to we must discuss or define two important types of charter as said above.

What is the difference between charterparty and charter of carriage?

Whereas a charterparty is the contract between a shipowner and a charterer, a contract of carriage lies between the shipper and the carrier. A carrier will issue a shipper with a bill of lading, a receipt for cargo shipped which also serves as evidence of the contract of carriage.

Who is the carrier in a voyage charter?

(In a demise charter, the charterer is the carrier; in a time or voyage charter the shipowner is the carrier).

What is a bareboat yacht charter?

In pleasure boating, the most frequent charter arrangement is bareboat yacht charter. A voyage or time charter is used only for larger yachts and is uncommon. Yacht charter flotillas are mostly made up of boats belonging to individuals or companies who only use their boats on a part-time basis or as an investment.