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Malcolm Maclachlan
Time charter
• Agreement between shipowner and charterer
whereby shipowner agrees to let and charterer
agrees to hire a named vessel for agreed
duration in return for an agreed sum of hire.
• Charterer is responsible for all voyage expenses
(bunkers; canal dues; cargo-handling; berth
dues; light dues; pilotage; harbour towage; line-
handling).
• Similar to hire of a chauffeur-driven car.
• Charterer hopes to make profit from ship.
Shipowner’s obligations
1. Bring ship to agreed delivery port or
place by agreed time on Cancelling Date.
2. Provide master and crew. Master to be
under charterer’s orders as regards
employment matters (i.e. cargo, etc.).
3. Pay all vessel operating expenses
(“running costs”).
4. Perform voyages, load/discharge
cargoes, etc. as required by charterer.
Charterer’s obligations
• Pay monthly or half-monthly hire (or
“charterhire”) into bank a/c as per C/P.
• Employ vessel within agreed geographical limits
for agreed purposes, carrying lawful cargoes.
• Issue B/Ls, etc. to shippers if appropriate.
• Provide bunkers as required and pay all voyage
expenses.
• Re-deliver vessel at agreed port/place on
expiration of charter in same good order as when
delivered, fair wear and tear excepted.
• Compensate shipowner for any damage caused
by charterer’s cargo or other operations.
Master
• To prosecute all voyages with the utmost
despatch.
• To render all customary assistance with
ship’s crew and equipment.
• To be under the orders and directions of
the charterers as regards employment.
(Means following charterer’s routeing
instructions, unless an encountered hazard
necessitates a deviation.)
The vessel