Trip Charter
In maritime context, a Trip Charter refers to a type of charter agreement where a ship is hired for a voyage between specified ports with a specified cargo at a negotiated rate of freight. This is a contract of affreightment, a legal term used in shipping. A trip charter is typically used for bulk cargoes, such as coal, grain, and ores. The shipowner provides the vessel and the crew, while the charterer provides the cargo. The charterer pays the shipowner on a per-ton or lump-sum basis. The shipowner pays the port costs, fuel costs and crew costs. The length of time for the charter is not fixed, as it is based on the specified voyage, not a set period. The charterer has the option to decide the ports of loading and discharge. The shipowner carries the risk of delay in the voyage due to bad weather, or other unforeseen circumstances.
Your Previous Searches
Random Picks
- Liquefied Natural Gas: In the maritime context, Liquefied Natural Gas (LNG) refers to natural gas that has been converted into a liquid form for ease of storage or transport. It is primarily used in the shipping industry as a fuel source due to its environmental ... Read More >>
- Capesize: Capesize refers to the largest size of bulk carrier ships that are too large to pass through the Panama Canal and instead must traverse the Cape of Good Hope or Cape Horn to transit between oceans. These vessels typically have a deadweight ... Read More >>
- Pouring Oil On Troubled Waters: Pouring Oil On Troubled Waters is a phrase used to describe the act of calming a difficult or tense situation. In maritime context, it refers to the process of using oil spill dispersants to break up oil slicks on the surface of the water. ... Read More >>
Top News
SEAL Team 6 is said to be training for a fight with China over Taiwan. Here's wh...
The role of the elite unit may be limited but not inconsequential. "You don't use a scalpel for a job a hammer can do," a former SEAL said....
News Source: Business Insider on 2024-10-19
The last in-person vote in the US will be cast on the desolate tundra of Alaska'...
On a desolate slab of island tundra on Alaska's Aleutian Islands, a resident of a tiny village called Adak will again become the last American to cast an in-person ballot for president...
News Source: ABC News on 2024-10-19
A historically Black community grapples with lasting impacts after Baltimore bri...
As the dust settled after the deadly collapse of Baltimore’s Francis Scott Key Bridge, residents of Turner Station found themselves facing an uncertain future....
News Source: NBC News on 2024-10-18
These are the biggest challenges facing the US Army in the Pacific, according to...
Soldiers face daunting challenges in navigating the vastness of the Indo-Pacific, where a future war could take place across a range of environments....
News Source: Business Insider on 2024-10-18
Teen kayaker rescued after spending 12 hours treading water and clinging to his ...
A 17-year-old kayaker spent nearly 12 hours treading water and clinging to his kayak Wednesday after becoming separated from his high school paddling group, the U.S....
News Source: NBC News on 2024-10-18