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    Ship Chartering Overview

    handybulk.com/ship-chartering/

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    Basic Concepts
    • Ship chartering involves renting or leasing ships for cargo or passenger transportation
    • Charterparty agreement outlines terms between shipowner and charterer
    • Shipbrokers act as intermediaries between charterers and shipowners
    Types of Charters
    • Voyage Charter: Shipowner provides ship, crew, and covers operational costs
    • Time Charter: Charterer leases ship for specific period with owner's support
    • Bareboat Charter: Charterer takes full control without crew or insurance
    Key Components
    • Charterparty includes freight rates, laytime, and payment terms
    • Insurance coverage required for cargo, ship, and environmental protection
    • Charterparty forms standardized by industry organizations
    Process
    • Charterer identifies requirements and engages shipbroker
    • Market analysis and ship search conducted
    • Charter party agreement negotiated and drafted
    • Pre-voyage preparations and cargo loading completed
    • Post-fixture services provided after voyage
    Legal Aspects
    • Charterparty governed by Laws of Supply and Demand
    • Hague Visby Rules apply when cargo is sold
    • Charterer can issue bills of lading under certain conditions

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