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Chartering Types

The document discusses various methods for acquiring ship tonnage or cargo space on vessels, including spot/single voyage charters, consecutive voyage charters, contracts of affreightment, freight service agreements, time charters, time charter trips, and demise/bareboat charters. It then provides more details on spot/single voyage charters and consecutive voyage charters.

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นัทเดช เรืองสวน
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100 views

Chartering Types

The document discusses various methods for acquiring ship tonnage or cargo space on vessels, including spot/single voyage charters, consecutive voyage charters, contracts of affreightment, freight service agreements, time charters, time charter trips, and demise/bareboat charters. It then provides more details on spot/single voyage charters and consecutive voyage charters.

Uploaded by

นัทเดช เรืองสวน
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Methods of acquiring tonnage

Charter Party

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Chartering Term:-

• Spot or Single Voyage Charter


• Consecutive Voyage Charter
• Contract of Affreightment
• Freight Service Agreement
• Time Charter
• Time Charter Trip
• Demise or Bareboat Charter

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Spot or Single Voyage Charter

• Transport of of a fixed quantity of cargo from a


specified loading port(s)/range(s) to a specified
port(s)/range(s) of discharge for an agreed fee

• All costs associated with the voyage being bourne by


the Shipowner, not by the Charterer, unless otherwise
agreed

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Spot or Single Voyage Charter

• Shipowner provides a complete service in supplying a seaworthy


vessel, a master and crew, all appropriate stores, and makes all
payments relating to the running of the vessel such as bunker fuel
for ship’s engines, port charges, etc

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Spot or Single Voyage Charter

• The form of reimbursement of costs for the Shipowner is


indirectly through the freight agreed with the Charterer, and this
freight element may or may not cover all costs (depending on the
stateof the freight market)

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Spot or Single Voyage Charter

•Throughout the charter the Shipowner retains control of the vessel


• Voyage chartering is very short term business and freight rates
can be volitile

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Spot or Single Voyage Charter

Charterer is also exposed through : -

(i) Restrictions on trading range (limited flexibility)

(ii) Demurrage - the onus to provide a berth on


the vessel’s arrival in port

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Spot or Single Voyage Charter

Charterer is also exposed through : -

(iii) Deadfreight - the penalty, representing loss of freight, incurred


by the Charterer for failure to supply either minimum amount of
cargo for which vessel was chartered, or because of the specific
gravity of the cargosupplied, the amount by which the vessel is
not submerged to its appropriate loadline

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Spot or Single Voyage Charter

Charterer is also exposed through : -

(iv) the operational and safety record of the vessel


(v) the professional competence and financial stability of the shipowner

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Consecutive Voyage Charter

• Shipowner agrees to supply a specified vessel to move a fixed


quantity of cargo on a repeat voyage basis, either specifying the
number of voyages between a designated port(s)/range(s)of loading
and discharge, or a time period during which repeated voyages are
to be undertaken

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Consecutive Voyage Charter

• All costs associated with the voyage being bourne by the


Shipowner, not by the Charterer, unless otherwise agreed

• Shipowner provides a complete service in supplying a seaworthy


vessel, a master and crew, all appropriate stores, and makes all
payments relating to the running of the vessel such as bunker fuel
for ship’s engines, port charges, etc

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Consecutive Voyage Charter

•Throughout the charter the Shipowner retains control of the vessel

• The Consecutive Voyage Charter is less volatile than a Spot or


Single Voyage Charter in terms of freight and possibly more flexible
in terms of trading range, but is no more reliable in terms
of performance

Capt.Veera Udomsant MTA Shell Thailand & Mekong


Methods of acquiring tonnage

Consecutive Voyage Charter

The major disadvantage over the Spot or Single Voyage Charter


is that the Charterer is obliged to provide a cargo (or pay
demurrage for any waiting time) when the ship turns up for the
second, third, fourth,etc voyage since there is usually only one set
of lay days and that is for the first voyage

Capt.Veera Udomsant MTA Shell Thailand & Mekong

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