Chartering Of Vessels
Chartering of vessels refers to the process of hiring a ship or part of it for a specific voyage or a set period of time. This is a common practice in the maritime industry, where ship owners lease their vessels to charterers who use them for transporting goods or passengers. The chartering process involves a legal agreement known as a charter party, which outlines the terms and conditions of the charter, including the type of cargo to be carried, the route to be taken, and the duration of the charter. There are different types of chartering, including voyage charter, time charter, and bareboat charter. In a voyage charter, the charterer hires the vessel for a single voyage, while in a time charter, the vessel is hired for a specific period of time. A bareboat charter, on the other hand, involves the charterer taking over the complete control and management of the vessel, including the responsibility for operating costs and maintenance.
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