Time Charter Party Agreements

While a party to the charter is the contract between a shipowner and a charterer, a contract of carriage is concluded between the consignor and the carrier. A carrier issues a bill of lading to a shipper, a receipt for the cargo shipped, which also serves as proof of the contract of carriage. (In the case of a charter, the charterer is the carrier; in a time or voyage charter, the shipowner is the carrier). The best analogy with the concept of travel chartering is that you rent an Uber for a ride from one place to another, sometimes with multiple stops in between. There are three main types of parties to the charter: time, voyage and shipwreck and another: the charter contract contains information on whether the chartered voyage is a port charter or a charter. In most cases, the mooring time would begin when the ship arrives in port. In the term charter, this is called “Arrived Ship”. .