What is demise charter in shipping?
A demise charter, or bareboat charter, is an arrangement for the hiring of a vessel whereby no administration or technical maintenance is included as part of the agreement. The charterer obtains possession and full control of the vessel along with the legal and financial responsibility for it.
What is a BIMCO charter?
All of BIMCO’s most widely used charter parties, bills of lading and other standard agreements are available in an electronic format using BIMCO’s online pay-as-you-go charter party editing system, SmartCon.
What is BIMCO bill of lading?
The Blank Back Form of Liner Bill of Lading is a bill of lading with no pre-printed terms and conditions on its backside. Instead, the relationship between the carrier and the shipper should be governed by the carrier’s standard conditions of carriage.
What is Barecon charter?
BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance.
Who owns the ship at the end of a demise charter?
In a bare-boat or demise charter, on the other hand, the owner gives possession of the ship to the charterer and the charterer hires its own master and crew. The bare-boat charterer is sometimes called a “disponent owner”.
What is a demise owner?
Demise charterer means a person with whom the owner of the vessel enters into a demise charter. The charterer takes over all possession and control of the vessel from the owner of the vessel and becomes subject to the duties and responsibilities of ownership.
What is the meaning of BIMCO?
marine. A commercial shipping trade organisation headquartered in Copenhagen. BIMCO is one of the largest international organisations of ship owners in the world.
What is transhipment bill of lading?
When transshipping goods, a bill of lading is issued by the vessel owner or his agent who transship the goods. This is called ‘transshipment bill of lading’.
What is the difference between bareboat charter and time charter?
A time charter refers to a ship that has been hired by a person for carrying out a trade for a specific period of time. A bareboat charter involves a hire agreement where there is no mention about the technical maintenance or administration.
What is the difference between bareboat charter and demise charter?
In a voyage or time charter, the charterer charters the ship (or part of it) for a particular voyage or for a set period of time. In a bare-boat or demise charter, on the other hand, the owner gives possession of the ship to the charterer and the charterer hires its own master and crew.