Slot Chartering Slot chartering is common in the containerized trade. Slot chartering is a method where a Non Vessel Operating Common Carrier (NVOCC)2 buys slot space on ships operated by…

Joint Ventures /Shipping Pools /Parceling /Project Cargo Joint VenturesA joint venture is a method of employment where a shipping company and a cargo owner come together to produce and then…

Bareboat Chartering Bareboat Charter is a leasing arrangement between the charterer and the actual owner in which the charterer operates the ship as if it is his own for an…

A contract of affreightment is a long term contract, where the cargo and not the vessel is central to the contract. As the cargo quantity is large, a ship owner…

Time Chartering A time charter is basically a contract for the hire of a specifically-named vessel, for a specified period of time. The charterers agree to hire a specifically-named ship…

Laytime In a voyage contract, a vessel’s earning for the voyage is fixed once negotiated. The ship owner can therefore maximize profit by completing the voyage as soon as possible.…

Voyage Chartering A contract for the carriage by a named ship, of a specified amount of cargo between named ports or places. It could be a “single journey” or a…

Terms used in chartering practice DEFINITIONS:LAY DAYS: This refers to range or spread of days between which the owners must present the vessel for loadingLAY TIME: Time allowed to the charterers for…

Charter Party The deal between the ship owner and charterer - General Discussions We now come to the all important area of the commercial-relationship that the ship owner gets into…

Chartering Shipping plays a vital role in international trade. Huge volumes of cargo or goods are transported by water. Chartering is about arranging this transportation of cargo by sea. A…

A bill of lading is a document issued by the Carrier to the Shipper as the receipt of cargo on board for the shipment. A B/L provides evidence that the…

Role of Bill of Lading When the carrier issues a bill of lading to a shipper of goods, he is bound by the terms and conditions of the Hague/Hague-Visby rules…