Scribd
Upload
261 views8 pages

Chartering Terms

The document discusses various terms used in maritime chartering including: 1. Part charters which occur when a ship owner cannot find a full cargo and allows smaller partial loads. 2. Recaps which are documents confirming charter agreements before the full charter party is drawn up. 3. Hire which is compensation from charterers for vessel use and off hire when vessels are temporarily unavailable. 4. Fixtures which conclude charter negotiations and agreements.

Uploaded by

aimri_cochin
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
261 views8 pages

Chartering Terms

The document discusses various terms used in maritime chartering including: 1. Part charters which occur when a ship owner cannot find a full cargo and allows smaller partial loads. 2. Recaps which are documents confirming charter agreements before the full charter party is drawn up. 3. Hire which is compensation from charterers for vessel use and off hire when vessels are temporarily unavailable. 4. Fixtures which conclude charter negotiations and agreements.

Uploaded by

aimri_cochin
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 8

THOMAS JOSE

PART CHARTER: Usually based on voyage charter party model, and occur when a ship owner cannot locate a charterer with a full load. Part charters can work well if the cargo is too large or bulky to be carried on a liner vessel, but too small to justify a full vessel charter. RECAP : The document transmitted when a fixture has been agreed, setting forth all of the negotiated terms and details. This is the operative document until the charter party is drawn up.

HIRE Charterer compensates the owner for use of a vessel. "On hire" means the ship is in service as contracted. "Off hire" means that the ship is temporarily unavailable to the charterer. FIXTURE Conclusion of charter negotiations between owner and charterer, when an agreement has been reached to charter a vessel. DISPONENT OWNER: Name used to describe a charterer who acts as an owner by subchartering a vessel, and assuming an owners liability to the sub-charterer.

FREIGHT: Compensation paid to the owner by the voyage charterer for use of a vessel. "This is sometimes confusing because the same term is used to describe the payment made by a cargo shipper to the bill of lading issuer," said Keith Heard, an admiralty attorney with the firm of Burke & Parsons in New York. FIOS (FREE IN, OUT, STOWED) : It is most important to remember that the "Free" reference is viewed from the Ship Owners point of view - not the Shippers. Some Shippers get caught out when they read the word "Free" as they incorrectly believe that it refers to them.

LINER TERMS - GENERAL STATEMENT : Liner Terms is a very ambiguous statement and can be interpreted in a variety of ways in different ports of the world and by different Ship Owners/Agents. LINER TERMS HOOK / HOOK : Given that this is a notional point in chartering terms, this is best described as the Shipper/Receiver arranging for delivery/ receive of cargo to/from directly under ships hook and the ship paying for the labor to stow the cargo in the vessels cargo holds, as well as on-board lashing & securing and provision of tonnage materials, and to discharge again over the ships side. Shore based stevedoring aspects remain the responsibility of the shipper/receiver, however, there are some Owners that may incorporate these costs into their LTHH rate. Once again, ask Owners to clearly define this aspect.

FULL LINER TERMS : This is somewhat a vaguer term given different port practices. However, it generally implies that the freight amount provided includes both shore based and on-board stevedoring, lashing/unlashing, dun age materials, securing/ unsecuring and all costs of presenting to/receiving the cargo from the ships side; with the shippers/receivers just bearing the cost of discharging from/reloading to the transport, along with the usual port charges/levies/taxes etc.

www.google.com www.wikipedia.com

You might also like