Vessel Agreements
Chartering is an activity within the marine industry in which a shipowner leases the use of his vessel to a charterer. The contract between the parties is referred to as the « charter party » (the « charter party » or the French « sharing document »). The three main types of charters are: chartering, travel chartering, and on-time chartering. It is not necessary for each partner to have the same number of vessels. The space available for loading and unloading at each port of call is shared by the partners. A ship-sharing agreement is somewhat different from that of an alliance, in that a vessel-sharing agreement is generally devoted to a particular trade route, the conditions being specific to that route, whereas an alliance is of a more global nature and could include many different trade routes that are normally on the same terms. Could this be more information on this topic: 1. VSA is it equal to Slot Charter? 2. How do financial agreements between different companies operating under an ASV work? 3. How do you manage a situation if one of the operators does not have reservations equal to their share of the slot machine or has more reservations compared to their share of slot machine? The corresponding clauses generally examine how and when there will be quantification and pricing of cargo hold, spare parts and other equipment for the delivery of ships, and whether these items will be included in the price or paid separately. As a general rule, a vessel-sharing agreement is concluded between different container shipping companies that agree to operate a regular service on a given line with a number of vessels. Related time and place of delivery clauses should have consequences if the vessel is not delivered on time, or the right to cancel or liability for the damage. A charterer can also be a cargo-free party, which takes a ship from the owner to the charter for a specified period and then acts to transport goods with a profit above the rental rate, or even make a profit in a rising market by refloating the ship to other charterers.
This is to ensure that the contract contains the seller`s delivery items, such as certificates and other documents necessary for the registration used by the buyer. The contract should contain clauses to provide them as a condition for payment of the purchase price. This would help the buyer not to hunt down the seller after concluding the agreement on the specific paper necessary to conclude the registration of the vessel on behalf of the buyer. In addition, the charterer can take over the use of an entire vessel and take control of the entire vessel for an agreed period of time. This type of contract is referred to as « ship wreck » or « naked hull charter » and effectively transfers shipowner status for a period of time. The contractor is responsible for the crew and personnel, repairs and supplies, and other duties of a shipowner.
