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CHARTER PARTIES

Time Charter Party

The Ordinary Time Charter

As with voyages charter parties, under a time charter, standard charter parties are used which are officially recognized by national and international organizations such as the BIMCO and the International Chamber of Shipping, London. The time charter parties which are mainly used are:

• the "Uniform Time Charter"BALTIME 1939 (revised 2001), published by BIMCO.
• the "Uniform Time Charter"BALTIME 1939 (box layout 1974), published by BIMCO (Overview table)
• the "General Time Charter Party" GENTIME, published by BIMCO.
• the “Uniform Time Charter Party for Vessels Carrying Chemicals in Bulk” BIMCHEMTIME, published by BIMCO.
• the “Uniform Time Charter Party for Container Vessels” BOXTIME, published by BIMCO.
de "New York Produce Exchange Time Charter", NYPE 93, amended 1993, published by ASBA (U.S.A.) and recommended by BIMCO and FONASBA. the “BPTIME3 Time Charter party” BPTIME3 published by BP Shipping, Ltd., in association with BIMCO.
• the “Uniform Time Charter Party for Offshore Service Vessels” SUPPLYTIME 89 published by BIMCO.
• the “Time Charter Party for Offshore Service Vessels” SUPPLYTIME 2005 published by BIMCO.
• the "Time Charter Party", SHELLTIME 4, 1963, amended 1984, published by Shell International Petroleum.
• the Tanker Time Charter Party", INTERTANKTIME 1980, published by INTERTAN­KO.

Note

The GENTIME replaces the previously well known "Deep Sea Time Charter" (box layout 1974), LINERTIME” which has been withdrawn by BIMCO since the two charter parties fulfill the same needs.

In the following paragraphs the general principles of a time charter party will be commented. In another paragraph a model of a worked-out time charter party will be given.