Demise Charter
In the maritime context, a Demise Charter, also known as a bareboat charter, is a contract where the charterer rents a vessel from the shipowner for a specified period and assumes full control and responsibility of the vessel, including the management of the crew and all other operational activities. The charterer essentially steps into the shoes of the shipowner in terms of responsibilities and liabilities. The shipowner, however, retains the ownership of the vessel. The charterer is also responsible for the costs associated with the operation of the vessel, including fuel, port charges, crew wages, and insurance. The charterer has the right to 'flag' the vessel in their own name, meaning they can register the vessel in their preferred jurisdiction. Demise Charter is often used for longer periods, typically for several years. It is a common practice in commercial shipping and is governed by various international maritime laws and regulations.
Your Previous Searches
Random Picks
- Workforce: Workforce refers to the group of people who are employed or available for employment in a particular organization or industry. In the maritime context, the workforce includes all individuals who are involved in the operation, maintenance, a ... Read More >>
- Offshore Oil And Gas Industry: The offshore oil and gas industry refers to the exploration, extraction, and production of oil and gas resources in offshore locations, typically in deep waters. This industry involves the use of specialized equipment and technology to dril ... Read More >>
- Terrorism: Terrorism is the use of violence and intimidation in the pursuit of political aims. In the maritime context, terrorism can take many forms, including attacks on ships, ports, and offshore facilities. Maritime terrorism can have devastating ... Read More >>
Top News
Japan will watch China's military after Beijing admits violating Japanese airspa...
Japanese officials say they are closely watching to see if China keeps its promise to prevent further violations of Japan’s airspace after explaining that an incursion by a Chinese military aircraft...
News Source: ABC News on 2024-11-20
Southeast Asian defense chiefs meet in Laos as maritime disputes with China are ...
Southeast Asian defense chiefs and representatives are meeting in the Laotian capital for security talks at a time of increasing maritime disputes with China in the Asia-Pacific and as the transition ...
News Source: ABC News on 2024-11-20
Biden's $100 billion disaster aid request includes money to rebuild the collapse...
President Joe Biden’s pending request to Congress for nearly $100 billion in emergency disaster aid includes money to rebuild Baltimore’s Francis Scott Key Bridge after its deadly collapse in Marc...
News Source: ABC News on 2024-11-19
The Houthis appear determined to score a hit on the American and European warshi...
The US and European Union have maintained a significant Middle East naval presence to battle the Houthis over the past year....
News Source: Business Insider on 2024-11-19
US defense chief says alliance with Philippines will transcend administrations...
U.S. Defense Secretary Lloyd Austin has condemned China's dangerous actions against the Philippines and renewed a warning that the United States would defend its treaty ally if Filipino forces come un...
News Source: ABC News on 2024-11-19