What is a charter agreement?

What is a charter agreement?

A charter agreement is a formal contract outlining your business relationship with another person or company.

What is Barecon?

BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance.

What is bareboat charter agreement?

Bareboat Charter — an agreement between a ship owner and a charterer (an individual or company chartering a vessel) that essentially gives the charterer complete responsibility for the vessel and its operation over the course of the charter.

What are the different types of chartering?

The three main types of charter are: demise charter, voyage charter, and time charter.

How much does it cost to charter a cargo ship?

Chartering a vessel can cost in the range of $40,000 per day for a vessel carrying 3,000 20-foot containers, according to the Port of Los Angeles.

What is a voyage charterparty?

Definition of voyage charter party : a charter party whereby the owner of a ship agrees to transport a full shipload of cargo owned or furnished by another person with the ship’s crew and master in control of the navigation.

What are the advantages of bareboat charter?

The most important advantages of bareboat sailboat charter are: saving money – you have to pay a daily fee for a skipper and ensure all the meals – and complete privacy – you can sail on your own whenever and wherever you want, and your charter agency can give you a complete sailing routes plan.

How is bareboat charter different from the voyage charter and time charter?

A bareboat charter (or demise charter) is very different from a voyage or time charter. Under a bareboat charter, the shipowner delivers the vessel to the charterer for a specified period of time without crew, stores, insurance or any other provisions.

What are the three types of charter party?

There are three main types of charter parties : voyage charter parties, time charter parties, bareboat or demise charter parties.

Who pays for fuel in a voyage charter?

As under a voyage charter, the shipowner remains responsible for navigation of the vessel and payment of operational expenses. In some time charters, however, the charter party makes the charterer responsible for buying the vessel’s fuel.

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