What are the types of chartering?
There are three main types of charters – voyage charter, time charter, and demise charter. The demise charter is often known as a bareboat charter, and grants ownership or possession of the vessel to the charterer subject to certain time-bound conditions.
What Laycan means?
The term “laycan” is frequently used in sale contracts to refer to the delivery period of the cargo. However, “laycan” is a charterparty term, referring to the period during which the vessel must arrive at port. For example, the buyer will have no right to reject the cargo if it is not loaded within the “laycan”.
What is chopt in shipping?
by Ship Inspection. CHOPT (Charterer’s option). If the charterers has an option to nominate any detail in a charter, for example, the “tolerance” percentage of the quantity of cargo to be loaded, this abbreviation is used in fixture telexes and other communications.
What is Sshex in shipping?
Abbreviation for Saturdays, Sundays and Holidays Excepted. Refers to loading and discharging of cargo as agreed to in the charter party. This indicates when time does not count in the calculation of demurrage and despatch. Shipping Abbreviations.
What are the three 3 main types of charter parties?
There are three main types of charter parties : voyage charter parties, time charter parties, bareboat or demise charter parties.
What is the most common type of chartering?
The voyage charter is the most common. Under this method a ship is chartered for a one-way voyage between specific ports with a specified cargo at a negotiated rate of freight.
What is all purpose layday?
Laydays are always planned in advance so that all the required operations are carried out in the specified time. Laydays are defined in different ways such as: Running days – Includes consecutive days including weekends and holidays. Working days – Includes consecutive days excluding weekends and holidays.
What is shipment Laycan?
Laycan means the period when a chartered ship must arrive to load a cargo. This period ends with the last moment a ship can give notice of readiness to berth and lift a cargo within its laydays; Sample 1. Laycan means the period from the opening loading date to the cancelling or last agreed loading date.
What is AGW WP?
AGW WP. all going well weather permitting.
What is demurrage Pdpr?
Demurrage charges apply to an importer when he fails to take the delivery of the containers within the stipulated number of free days allowed (decided by the Port Authority). Demurrage charges are usually calculated on a per-day basis.
Why is it called a charter party?
The name “charterparty” is an anglicisation of the French charte partie, or “split paper”, i.e. a document written in duplicate so that each party retains half.
What is meant charter party?
charter party, contract by which the owner of a ship lets it to others for use in transporting a cargo. The shipowner continues to control the navigation and management of the vessel, but its carrying capacity is engaged by the charterer. Related Topics: chartering.
What does it mean to be chartered in the UK?
chartered; chartering; charters. Definition of charter (Entry 2 of 3) transitive verb. 1 a : to establish, enable, or convey by charter The city was chartered in 1837. b British : certify a chartered mechanical engineer. 2 : to hire, rent, or lease for usually exclusive and temporary use chartered a boat for deep-sea fishing.
What is a time chartered basis?
The payment for hiring a vessel on a time-chartered basis. Means a day of week (or part thereof) on which cargo work on the ship is suspended at the place of loading/discharging by reason of the local practice or custom.
What is a berth charter?
The term berth charter implies that notice of readiness cannot be given until the vessel is in the designated berth as required by the charterers. Also referred to as “liner terms”. The Shipowner pays for loading and discharging subject to the custom of the port or as fast as the ship can handle the cargo or under customary dispatch.
What does fbde stand for in Tennessee?
FULL BENEFIT DUAL ELIGIBLE (FBDE means a Medicare beneficiary who also qualifies for TennCare benefits, except that Waiver Duals are not considered FBDEs.