top of page
Evershine
The Maritime Chartering Lexicon meaning
Voyage Charter: Singular Passage, Defined Freight
Under a Voyage Charter, the vessel is engaged for a one-time transit between designated ports. The charterer compensates the shipowner based on tonnage or volume, making this modality ideal for the movement of discrete bulk shipments—such as iron ore, salt, or bagged agricultural produce. It is a transaction-specific agreement with clear port terms, precise freight obligations, and minimal long-term commitment.
Time Charter: Command with Temporal Bounds
A Time Charter offers the charterer control over the ship’s commercial employment for a fixed period. Routing, cargo handling, and port selection rest with the charterer, while the shipowner retains control of technical matters—including crewing, vessel upkeep, and certifications. This flexible arrangement suits traders and logistics operators managing multi-port itineraries or variable cargo schedules.
Bareboat Charter: Full Custodianship in Demise
The Bareboat Charter, alternatively termed a Demise Charter, conveys full possession of the vessel to the charterer. This includes operational liability, crewing authority, maintenance obligations, and legal compliance. Common in long-term fleet arrangements or private commercial deployments, the bareboat modality transforms the charterer into a quasi-owner—governed by stringent contract terms and maritime law.
bottom of page