Charter Party

A charter party is a legally binding shipping contract between a shipowner or disponent owner and a charterer. It defines how the vessel is used, what freight or hire is paid, and who carries operational and commercial responsibilities.

For merchant ships, charter-party wording can control laytime, demurrage, safe port orders, cargo responsibility, speed and consumption warranties and off-hire. Read the full charter party types guide for voyage, time, bareboat and COA examples.