Chapter 2

2.1Introduction
Container ships are 50%-80% faster than Bulk careers and oil tankers due to requirement of
quick delivery.

2.2 why ships?

Comparatively safe delivery, inexpensive, its an established industry, growing cabotage or
coastal shipping.
1 nautical mile= 1852m.

2.3 Theory off trade

Trade- fail from one to another
Export- Consigner/ Shipper.
Importer- consignee/ receiver.
Trade happens due to difference in climate , topography, soil mineral deposits, availability of
labor, ability of capital, industry growth facilitation by government, unfortunate disasters, access
wire cost line , imposed sanctions, recession.

2.4 Shipping markets

It includes liner trader, dry bulk trader, tanker trader, passenger segment.

Liner or container
Trade according to schedule of Port, consignment, container (20 and 40 ft).
Carry manufactured or partly manufactured goods.
Cargo are 2 types :Less than container load consolidated in container
and Non Container cargo are called break bulk cargo Impossible to containerize.
2.4.2 dry bulk cargo
Tramp ships- visit different ports according to availability of cargo to collect.
- they may sail to collect cargo in Ballast after unloading.
- Carry raw materials or semi raw.
- commodities in tramp market includes iron, coal, grain, fertilizer, steel, scrap metal, timber.
- individual negotiated cargo rates.

2.4.3 bulk liquids

Specialized tramp carriers,
- Carry refined products of crude oil, petrol, gasoline, kerosene, paraffin, jet fuel, diesel oil, fuel
oil, lubricant oil.
Some Chemicals are carried in specialized Chambers in small tankers.
Gas Carriers - Liquefied natural gas & LPG butane and propane.
Other liquid cargos include chemical acids, vegetable oils, wine, molasses, juices.

2.5 who trades?

Chartrer Can be exporter, important or trader. Chartrer enter affreightment(COA) with ship
owner. It is pre-arranged agreement schedule where owner provides ships. Also provide details
about cargo and time period.
Ship brokers- negotiate on behalf of principals. They are owner’s broker & charters broker.
Fixture- actual chartering deal.
Principles- ship owner and charter involved in fixture.
In Port representation communication for pot call is through agents.
Broker can be part of principles company principals company.
Shipper can be actual manufacturer or trader.
Freight forwarding- arranges contract of carriage.- facilitates transport from seller to buyer.
Freight is a means of transport.
NVOC- Full responsibility of moving goods from exporters factory all the way to importers
premises. example -DHL.
Private career- Ship is under contract to a Chartrer.
NVOCC- non vessel operating common carriers which does not on or operate Ocean transport
vessels; instead they make arrangements with ship owners chartrer or shipping lines for
transport of cargo.
Bill of lading duties taken care by agents fo NVOCC.
Example- Maersk,Apl,CMA,CGM.
Time chartering- charter pretends to own owner ships. These long term rent out contracts for
ships.
Bear boat charterers- disponent owner- Chartrer is deemed To be owner eventually.
Benefits are greater flexibility to react to market changes. Ships can be used by being rented.
Ship operator- ship owner, ship managers shift operator collective.

2.6 conclusion -Soaring freight rates

Factors that affect shipping- recessions, OPEC political decisions, war outbreak,
shortage or excess availability of commodity, extended periods of strikes, competitive
market.
Weak market indicated by 2 ships and 1 cargo.
Strong market indicated by one ship and 2 cargos.
Chapter 3
Ship Practitioners
3.1 six disciplines
3.2 Institute of ship Chartered brokers
3.3 ship sale and purchase.
3.4 Ship Management
3.4.1 crewing
3.4.2 storing
3.4.3 technical
3.4.4 Insurance
3.4.5 Operation
3.4.6 ISM code
3.4.7 ISPS code
3.4.8 Liner trades
3.4.9 Dry cargo chartering
3.4.10 Tanker chartering
3.4.11 Port Agency
3.5 Conclusion

3.1 Six disciplines

-Purchase and sale of ship and purchase broking.
- step crewing, maintenance and management, husbandry and stores, cargo and operations.
- liner trades- done by operating company or independent liner agents. cargos is Marketed,
documented, loading unloading arrangements facilitated.
- Dry cargo -Tramp- dry cargo chartering finds both cargo and ship for operation.
- tanker chartering requires skilled brokers specifically.
- Port agency- handles Liners, tramps, tankers for port calls.

3.2 Institute of Chartered ship brokers

Has qualifying examinations and six principles.
UNTCAD- United Nations conference on trade and development coined the term ship agent
after a survey into duties of intermediaries.
- Demand driven
- embrace country owners ship.
-Principle of transparency, efficient, effectiveness and accountability.
- Geographically balance implementation.

3.3 Ship sale and purchase

Recycling facilities or scrap yards.
S&P Broker -Second hand for further trading.
Ship broker Qualities for buyer-
-needs to be well versed in ship types.
- vices and virtues of ship design
- builder, machinery
To advise clients appropriately.
Other duties- registration, classification, finding source of Finance.
Ship broker qualities for seller-
Please ship credentials to reach maximum Buyers in market.
Giving expert opinion and ship valuation.
Service availed by government, Financial institutions, insurance underwriters, arbitrators,
probate lawyers, lawyers needing expert witnesses.
Skills required
- entrepreneurial flair, technical knowledge, gathering market information, freight movements,
access to ship database like vessel tracker, SAP Logs shipping , backup and restore ships
transaction log files, AIS forms.
Specializations - knowledge of status of ships recycling yard (full or empty),
-Availability of building birth, demolition specialization.
-2nd hand market specialization- tankers, bulk carriers, Oil exploration, dredgers, fishing
vessels.
-Competency- Record Keeping, impeccable constantly updated, support staff.

3.4 ship management companies

Sub contracting some operations
Example- crewing, storing, technical, insurance, operations, commercial, training, consultancy,
After which they can acquire Ship owners.

3.4.1 Crewing
Example Philippines, India, Ukraine, Russia.
Getting favorable flag.
Department ensures validity of certificates, collect previous employment details, check
qualifications, leave allotment, no delay to ship, travel arrangements, wage/employment
contracts(SEA), allotments.

3.4.2 Storing
Spare parts- responsibility of technical department.
Provisions- food and drink for crew.
Cash to Master( CTM).
Bed linen, cleaning material, cooking utensil.
Stores for deck, engine room, lashing, dunnage Timber, tank cleaning, refrigeration materials,
paints, routine maintenance equipment and tolls, dech stores, engine Stores, Lube oil.

Technical( respond immediately to accident an incident and travelling)

- Marine superintendent responsible for fabric off ships, keeping class survey up to date.
-Technical superintendent- ships machinery, electronic navigation devices.

3.4.4 insurance
Ship itself is insured.
Hull and machinery insurance(H&M).
Experts find best insurance cover.
Example: provider Lloyds London
- evaluates payment and risk.
Lloyds- underwriters, Syndicate, Lloyd’s broker.
Ship Management insurance department get best insurance.
3rd party Insurance-
-Example port authorities claim damage to Jetty.
-Personal injury claim by crew alleging ship owner negligence.
-Cargo owners claim condition arrival of goods.
P&I clubs of ship owners ,not Lloyds. They are always busy with third party claims pipeline.
Powers include:
Protection- Fight of unfair claims.
Indemnity- Illegitimately made third party claims repaid.
Operations Department
-Decides on bunkering.
-Appointment for agents.
-Authorizes broker to negotiate deals.
-Fees and Ship manager payment- remuneration is negotiated at term of appointment.

3.4.6 ISM code- International safety management code.

Safe and effective operation affected by standard of management. Ensure no bad practice
creeps into operating procedure.
IMO Incorporates IMS CODE into SOLAS convention.
Audited and approved by inspector from flag state, safety management certificate SMC and
document of compliance DOC issues to vessels clear of observation.
To pass inspection
- Ship full compliance to SOLAS.
-MARPOL and local regulations governing training on board ships.
- properly trained/certified crew with valid certificates.
DPA- designated person ashore- link between ship and Management.

3.4.7 ISPS
international ship and Port facility Code is part of solas convention introduced by IMO in
response to security, terrorism, piracy, stowaways.
Three security levels Raised based on Intelligence received.
RSO- recognized security organization certifies security arrangements at Port and Ships after
inspection and auditing.
Example Maritime coastguard agency(MCA ) of UK vets Ships, class societies, security
companies for Panama.Certification required to enter most ports.

3.4.8 Liner trades

Agency agreement devised by (FONASBA)- Federation of national associations of ship brokers
and Agents. Recommended by Baltic international Maritime Council (BIMCO).
FONASB states Duties of liner agent:
- marketing and sales for landlocked countries- Hinterland agents.
- documentation
- attending the ship
- control of equipment
-Accounting and Finance
- dealing with inward and outward cargo.
Cargo export-
-taking cargo bookings,
-calculating the freight,
-checking bill of lading,
-recording containers movement.
Cargo imports
-Assuring legitimate receipt off cargo from BOL.

3.4.9 Dry cargo chartering

Charterers agents gives its principal cargos to broker of ship owner having principal
ships.
Exclusive brokers advice & ensure possible deal. Example brokers in New York,
London, Hong Kong.
Competitive brokers
Less common intermediate broker -link between 2 brokers
Most exclusive is broker part of principles company.
example- grain companies
Speed ,efficiency and sound advice, expert in reading market fluctuations, stamina.
Dry cargo Commission is 1.25%.
Post fixture department is back office translates communication into written contracts.
Prepare charter party ready for principals to sign.

3.4.10 tanker chartering

Highly specialized, chartrer are oil major companies, principles are profoundly
knowledgeable.
Urgently and quickly fixed and quickly finding ship.
Not many exclusive brokers.
Commission 1.25 %.

3.4.11 Port agency

-24 hours work dealing with shift and personal satisfactorily.
-Vessel calls to port , owner pre entrusts/co ordinates ships husbandry to agent.
-Agent confers to Port authorities, dues paid to use port, arranging a berth, liaising with
loading and discharging personnel.
- first to meet ship
-Discuss all pre arrangements made pre arrival, customs and immigration, cash for
master, ships provisions & mail, store and spares, service engineer even organizing
laundry, medical & dental attention, extricate unfortunate seafarers on land, progress
advice to owner regularly, advice to save time, prepared statement of facts, demurage
or despatch calculated, compiling PDA 1& 2 ,FDA,SPOT,DA Account refunds owner.
Tariff - agent remuneration based on size of vessel.
Not willing to share all information looks to minimize agency ( owners or charter)
Agencies professionalism towards owner or charterer?
Time charterers agent facilities extra services.
Appoint supervisory agent- protecting agent seeing work done by a charterers agent.
Agent performs duties which cannot be assigned to chartrers agent.
Added to agency charges
Port liner agent added pre contract.

3.5 Conclusion
Principal agent relationship.
Six disciplines
Most efficient than principles or other agents .
Chapter 4
Supply of ships and
Constraints within shipping industry

4.1 Development of shipping industry

Ships constructed with
Steam engine introduced
Development of wireless telegraphy.
Development in Port infrastructure
Canals facilitating Ocean going ships.
Resistance to submarines
New and Expanding discharge and loading terminals.
Quick port turnaround time allows more voyages.
Containerization and new sport infrastructure and equipment.

4.2 Supply of Shipping

Influenced by
Number of ships, size , speed of ships spent in port.
1974 world's largest tanker 555,000 DWT.
Large container ship speed 25 knots.
Tramps and tanker sail at 14 notes.
Size of Port need to be appropriate for calling ship.
Intermodalism for liners help them deliver good to ports charging less tariff.
Dredging in Rotterdam example increased depth by 15m.
port equipment speed.
Port charges per tones of cargo moved or containers.

4.3 Why operate ships

Profit ,move cargo, encouragement by government( main reasons given below)

4.3.1 Conserving foreign exchange

Collecting freight charges.
Payment in own currency.
No drain on foreign reserves.

4.3.2 Control of trade and Prestige

Commonly established in newly independent countries.

4.3.3 Earning foreign exchange

Provide service at low cost traffic.
Facilitates trade of natural reserve resources.
Available option of Balancing between limiting trade on country ships earning foreign
currency. Example Brazil Vale mining Giants.

4.3.4 Strategic needs

During emergency, own fleets can be used.
4.4 Protectionism
The deploy crew preferred from weaker economics.
Cash subsidies offered by government
Special Income Tax concessions
Capital interest rate low given low.

4.5 Ships registration

Ship is registered to a specific country and have a home pot
Flag state of registry
Open registry
-relaxation on IMO, SOLAS, MARPOL, related regulation.
-Recently accepting new conventions.
-ITF- International transport workers Federation-looks into underpaid Seeman or badly
accommodated crew.

4.6 Port state controls

-Port authorities target ships with fast records, checking flag ,class.
-Port state inspection
-For minor deficiency vessel is allowed to sale and given time to rectify.
-Major deficiencies ship can be detained. -Company can face defamation.
- further sanctions can ban entry of vessel to port.

4.7 Ship classification

Certificate of quality of ship used to secure better cargo.
Specific ships can be targeted by PSCI based on their class.
Major IACS.- Internationally accredited classification societies.
Members
American Bureau of Shipping
Bureau Veritas
China classification society
Croatian register
Dnv GL group
Indian Register of Shipping
Korean register
Lloyd's register
Nippon Kaji kyokai
Polish register
Registro Italiana
Russian Maritime Register of Shipping

Every ship is tracked with its IMO number.

Lloyd's register-
Large database of vessels and IMO numbers of vessels weighing above 100 tons.
Lloyds survey compliance 100AI sea worthiness.
Constructed/Supervision under Lloyds100AI.
Ship undergoes several inspections in Port and at dry Dock.
Chapter 5
The Ship Overview
5.1 Tonnage and Load lines
1ton= 252 gallons=1146 liter ,barrel
GRT-Gross Registered Tonnage -Total internal volume of the vessel.
Commonly used for Passenger ships.
Express handling Dockage fees, canal transit fees, charges based on size of vessel.
NRT-Net Registered Tonnage-Ships total Cargo Volume Capacity. -Earning Capacity
Expressed to determine vessels earning capacity,
 Displacement tonnage
 Light displacement
 Deadweight(dwt)
 Load line
 Draught
 Ship measurement and volume
 Stowage
Difference between tonne and ton?
Displacement tonnage
Archimedes law- weight of a body equals to weight of the water displaced by it.
5.1.1 load displacement used for warships.
5.1.2 light displacement
Concerned parties
- technical people
- ship sale and purchase
- for sale, recycling or scrapping
- message quantities of Steel that are being sold.
5.1.3 Deadweight DWT
Weight that the ship can carry including cargos, fuels, Stores, freshwater etc
DWAT
DWCC- deadweight cargo capacity- determines earning capacity.
Is a representation of pure cargo that can be loaded.
5.1.4 Load line- determines deadweight
Plimsoll line- summer load line is referred(LS).
Load line -deepest level to which ship can safely Voyage through water maintaining
stability.
ICLL- international convention off load lines.
Class society positions load line during ship construction.
Lowering draught helps reduce port charges NT & GT.
 Freeboard- ships hull between water level and load line deck.
Load line deck- highest continuous water tight deck.
Salt water reduces draught, freshwater increases ,
So ships Draught reduces when it enters Ocean from freshwater.
TF- tropical zone, FW-freshwater, LT-tropical saltwater, LS-summer , LW-
winter, LWNA-winter North Atlantic.

5.1.5 Draught
Distance between keel of ship to the Water Line.
Tons Per centimeter & Tons per inch.
Draught Survey - performed by independent surveyor, terminal authorities Or ships
crew.
-checking weight of the cargo- taken before , after loadin
Also draught means soft water at location.

5.1.6 Ships measurement based on volume.

2 types cubic capacity.
Grain cubic -measurement of total cargo space .
Bail cubic- measured around beams and girders since bail cannot occupy awkward
Corners.
Grain cubic-10%= bail cubic. Modern ships they are more similar.

5.1.7 Stowage
Cargo stowage factor- M3/ton or ft3/ton.
Ship brokers quote stowage factors.
Cargo characteristics have to be understood.

5.2 Types of Ships

 Bulk carrier
 Capesize
 Panamax
 Handysize & Handymax
 Tweendecker
 Container Ship
 Roll -On/Roll-Off
5.2 Types of ship and principal features

5.2.1 Bulk carrier- single deck with clear hold and large hatches. Single and double
Hull, maximum 400,000 tons of cargo.
5.2.2 Capesize- too large to enter sales and Panama Canal, cargos include grain, coal,
Ore trades raised ForeCastle to protect hatch covers from heavy weather.
5.3.3 Panamax- pass through Panama Canal, maximum dead weight 75 ,500 set, 7
holds, attached gears,
New panamax- 366 Load, Beam 49m, draught 15.2m.
Modern capesize bulk carrier- 180,000dwt
Loa 290M, Beam 45m, paath Laden 130,000tonns, high storage factor cargo for Canal
Transit.
5.2.4 Handysize and handymax
5 or 6 cargo hold, geared, square shaped hold,, open hatched, but not open hold.

Hopper shaped holds-easy access for unloading. Higher center of gravity.

Buckling forces during loading and discharge strengthening Aft and fore.
5.2.5 TweenDecker
Multipurpose ship, with cargo handling gear, Stern ramp, Cranes 30t, tramp voyages,
non-containerized cargo, example Steel, forest products.
Folding tweendeck- fertilizers, grains, coal.
Two to five hold, folding hatches, under deck storage in single long hatch. versatile and
tested loading capacity.

5.2.6 Container ship- container slides on metal guides into hold, lashed, Teu 8000-
10000- 18000 teu range. 20 ft equivalent.

5.2.7 Roll on roll off

Maximum 20000dwt, Stern ramp, Forklift,
PCC -PCTC- pure car and truck, RO-pax vessel, single Hull, 40 knots speed, aluminum
superstructure, water Jet propulsion,
alongside-quarter ramps, side access
L shaped berth - straight stern and bow ramps. Long loadS,
Lane meter- Indicates capacity- Measure gives indication total length of available
space for vehicles of given width.

5.3 Cargo Handle Gear

Equipment used for loading and discharging cargo
Shore gear are faster and greater capacity.
Shore can use displacement pump.
SWL-Safe working load of cranes 250- 300- 1000tonnes.
5.4 Tankers
 Crude Oil & Product carriers
 Chemical & parcel tankers
 Gas carrier
 LPG carrier
 LNG Carrier
5.4.5 Vessel Specifications including Typical size, typical length Beam, Draught,
Cranes, Holds/Hatches, Main Engine output(kWh), speed, Deadweight, Teu(Twenty
foot Equivalent unit), Air Draught, Capacity, ramp load, cargo pumps, cargo tanks, slop
tanks, Ballast pumps, cargo types.
 Capesize vessel
125,000-300,000dwt, (290m-45m-17.5m),9holds/9hatches, 23-25,000kWh,hopper
shaped, DB tanks, raised forecastle, single skin hold, side rolling hatch cover.
 Panamax Bulker
65,000-75000dwt, (230m-32.3m-12.8m), 7 holds/hatches, 78,000m3 ,16,5000kWh,
hopper hold, bleed hopper tank, raised forecastle.
 Handymax Bulker
25,000-40,000dwt, (180-200m,20-30m, 9.5-10.5m),Crane 20-30 tonnes SWLx4?,
5holds/hatches, 9-11,000kWh, fed-aft rolling hatch covers, hopper shaped, Single
skin hold, DB Hull Deck cranes.

 Multipurpose vessel
30,000dwt,(192m-28m-11.2m),4-5 holds/8-10hatches, 30-35,000m3 , Teu
1500,Crane 40-300 tonnes SWL, 21,000kWh ,18-20 knots, DB tanks, aft ramps &
cranes, container guides, tween decks ,breakwater.
 Panamax container ship
50,000 dwt, Teu 4000-5000, (294m-32..3m-12.04m), Containers-max13 across, air
draught 57.91m, 48,000kWh, 25knots, stowage in holds, containers on deck, DB tanks,
breakwater, forepeak, Mast.

 Ro-Ro vessel
Capacity 4000 lane meters, (200m-26m-7m), ramp load 100tons, 40,000kWh, 19 knots
on 90tones milage daily, ER above keel, internal deck ramps, ramp to upper deck, roro
lanes, DB FP tanks, raised Forecastle
 VLCC
305,000-320,000dwt, (333m-60m-22.6m), Cargo pump 3x5,000m3/hour, cargo tanks
x15, slope tanks x2, 33,000kWh, 15 knots, starboard, center & port tanks, aft peak &
fore peak &DB tanks, Pump room, cargo manifold x2 , hose & cranes x2, DB side
ballast tk.
  Suezmax tanker
155,000dwt, (288m-50m-20m) , capacity 1million barrels , cargo tanks x10, slope tanks
x2, 20,000kWh, stbd & port tanks, pump room, hose and crane x2, fire monitor,
walkway, DB side ballast tank
 Aframax tanker
95,000-120,000dwt, (250m-44m-14.6m), cargo tanks x12, slope x2, cargo pumps x4,
ballast pump x2, 17,000kWh,DB side ballast tk, pump room, cargo manifold-hose–
cranes x2.
 Medium-range Tanker
32,000-50,000dwt, (189m-32m-13m),cargo tanks x12,slope tanks x2, cargo pumps x4,
9,000kWh, stbd &port tks, pump room, hose & cranes x2, fire monitor, walkway, DB
ballast Side tks.

 Pressurized LPG Larger gas carrier

4,800 dwt,(93m-17.6m-4.2m), capacity 3,500m3, butane, butadiene, propane,
propylene, vcm, LPG tank, DB tank.

 LNG ship with moss spherical tank design

66.500dwt, (290m-42m-10.7m), 130,000m3, cargo tanks x5 refrigerated tks, pumps 10
x 1,100m3(2 pumps /tank), 30,000kWh, cargo & hopper tank, drip tray, DB tk,
segregated Ballast tank above DB,

 LNG with Prismatic tank design

100,000-130,000dwt, (277-345m,44-53m,11.4-12m),140,000-260,000m3, cargo
temperature -166C, 30,000kWh, 19 knots, insulated prismatic tks, cofferdam x6, deck
cargo machinery, hose, crane & cargo manifold.
5.4 Tanker crude oil, product tankers, chemical and specialist Tankers.
ULCC- 320000- 500000 dwt
VLCC- 200000-320000 dwt
Transit Suez Canal in ballast .
SuezMax & aframax( medium size),
80000- 150000dwt.
5.4.1 Product carriers.
DWT- 20000- 55000- 60000- 90000 tonns.
Well-constructed with longitudinal and Lateral bulkheads, Central tanks, segregated wing tanks
used for water ballast, self-discharging With at least 4 high speed cargo pumps.
Discharge rate affected by- climate, size short lines connection & distance of the receiving
tanks from berth.
Equipped with heating coins and tank washing COW.

5.4.2 Chemical and parcel tankers

Tanks are internally coated with types of epoxy, silicate ,polyurethanes depending on the Petro-
chemicals transported.
Stainless steel- tanks, pipes, pumping systems. 50,000dwt. No contamination and no risk to
human life & environment.

5.4.3 Gas carrier

liquified form, liquefied natural gas from fractional distillation and compressed natural gas
directly the ground.

5.4.4 Liquefied Petroleum gas

butane and propane- liquefied stored under high pressure maintained at low temperature.
Insulated tanks- compressed at shore- refrigerated at -50 C. 700m3 to 7000m3.
Cylindrical tanks, construction aluminum alloy, self-supporting, freestanding, insulated by
polyurethane foam.

5.4.5 Liquefied natural gas

Natural gas are Ethane -104C and methane- 163C atmospheric pressure, insulated tanks, both
constructed differently.
Moss system- spherical tanks- aluminum alloyed, insulated, outer Steel shell.
Membrane system- Prismatic tanks, integrated to hull, crried in cargo containment system
surrounded by inner hull of ship.
Ship engine- steam turbine engine- fueled by boil off gas 0.15% cargo. Bunker for auxiliary
engines.
Modern LNG career- dual fueled and receive normal bunkers.
Volume=135,000-145,000m3 = 60,000- 70,000dwt.
New ships-250,000dwt.
Chapter 6

6.1 Terminology
Negotiation btwn parties like a market.
For Bulk trade driven by laws of supply and demand.
Perfect competetors.
World wide standardized rates.
London,Baltic exchange, New York, HongKong, Hamburg, Osle, Tokyo.
Motto Our Word Our Bond.
Network Communication.

6.2 Chartering
Ship owner and merchant seeking to use his ship.
Agreement between ship owner and charterers is called Charter party.
Here Merchant using ship is called charterer.

6.2.1 Voyage Chartering

3 types carrying cargo from point A to B.
-Payment is made in dollars per ton.
-As lump sum, as negotiated depending on market.
-Contracts of Affreightment.
It allows ships most conveniently placed to carry And it benefits multiple ship owners.

6.2.2 Time charter

Charter Hires vessel and under hire per day.
Conditions
Duties of disponent - ship owner ship operates ship and provides for crew.
Charterer assigns voyage.
Pays for bunker.
Port Expenses entering and leaving
Expenses for loading and discharge. Cargo operations.
Terms to be agreed
The rate of hire & period of charter.

Demise chartrer
Ship owner has no role ship operation.
Does not pay for crew.
Charter duration -Extended.
Charter Party Forms-
Standard forms
Special conditions
Favorite amendments
Are to be Incorporated into agreement forms.
Old forms used by UK Chamber of shipping.
Conservative forms has many amendments tried and tested in court of law and
comply with modern conditions.
Biased Forms
Favors one party and can be corrected by Negotiation and Amendment of Wording, but
extent to which it can be achieved depends on strength of the market at the time.
BIMCO- Baltic International maritime Owners organization, favors ship owners.
There are forms favoring charterers also .