10 Charterparties

Subject(s):

Seafarers — Nationality of ships — Straits

This chapter analyses charter parties-the term used to describe contracts for the use of ships in trade; it is often shortened to ‘charter’. The persons involved in a charter are the owners of the ship and the persons who require the use of the ship, the charterers. Sometimes there is a chain of charters relating to the same ship; in such a case, the first charterers will be described in the second charter as the ‘disponent’ owners while the second charterers will be called the sub-charterers. The chapter looks into the three main types of charter, namely the demise or bareboat charter, the voyage charter, and the time charter. In return for carrying the cargo, the charterers pay the owners a sum of money known as ‘freight’ which may be calculated at a given rate per tonne of the cargo carried or it may be a lump sum.