CHARTERING

Definition

Chartering is an agreement, whereby one party, the owner, puts a ship or a part of it at the disposal of another party, the charterer, for the carriage of goods between named ports.

The charterer can in turn, sublet the ship or a part of it to a third party, who now becomes the “Disponent Owner”.

The chartering agreement is contained in a document, called “Charter Party”.

In most countries, chartering agreements are governed by local legislation.

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