Chartering Agreement
A Chartering Agreement is a contract between a shipowner and a charterer for the hire of a vessel. The agreement outlines the terms and conditions of the charter, including the duration of the charter, the freight rate, the loading and discharging ports, and the responsibilities of both the shipowner and the charterer. There are two main types of Chartering Agreements: Time Charter and Voyage Charter. In a Time Charter, the charterer hires the vessel for a specific period of time and has more control over the vessel's operations. In a Voyage Charter, the charterer hires the vessel for a specific voyage or series of voyages and the shipowner retains more control over the vessel's operations.
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