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All main topics / Naval Architecture / Marine Transport and Economics / 50 Essential Shipping Terms
Time charter
A transportation contract under which the charterer has the use of the vessel for a specific period. A fixed daily or monthly payment is made for the hire of the vessel, for example $20,000 per day. Under this arrangement, the owner manages the day-to-day running of the ships, and pays the operating and capital costs. The charterer pays fuel, port charges, loading/discharging fees and other cargo-related costs, and directs the ship operations.
Source: Maritime Economics, 3rd edition
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Flashcard info:
Author: andersson.j
Main topic: Naval Architecture
Topic: Marine Transport and Economics
School / Univ.: Chalmers
City: Gothenburg
Published: 15.10.2009




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