Maritime glossary
Charter Party
The contract under which a vessel is hired to a charterer: voyage, time, or bareboat.
Definition
The charter party is the commercial contract between shipowner and charterer. The three primary forms are the voyage charter (the vessel is hired for a specific voyage at a per-tonne or lumpsum freight), the time charter (the vessel is hired for a period at a daily hire rate, with the owner providing the crew), and the bareboat charter (the vessel is leased without crew, and the charterer effectively becomes the disponent owner). Standard forms like GENCON, NYPE, and BARECON are the starting points for most fixings.
How Vessel Hunter uses Charter Party
Knowing the disponent operator, the time-charterer running the vessel commercially, is often more useful than the registered owner. Vessel Hunter exposes both.
Related terms
- Voyage Charter
A charter for one or more specific voyages, priced per tonne of cargo or as a lumpsum freight.
- Time Charter
A charter for a fixed period, paid as a daily hire rate, with the owner providing the crew.
- Bareboat Charter
A lease of the vessel without crew. The charterer takes on management, crewing, and operational risk.
- Demurrage
A daily fee paid by the charterer to the owner when cargo operations exceed the agreed laytime.
The bigger picture
Charter Party is one piece of the commercial maritime picture Vessel Hunter pulls together for shipyards, suppliers, service providers, and port agents. Every vessel record bundles AIS, ownership, inspections, dry-dock history, casualty record, classification status, and a verified contact for the operator decision-maker behind the ship, so the team that reaches out first wins the work.
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