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Charter Party
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a "charterer" for the hire of either a ship for the carriage of passengers or cargo, or a yacht for pleasure purposes. Charter party is a contract of carriage of goods in the case of employment of a (charter boat). It means that the charter party will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference to the agreed terms and conditions as embodied in the charter party. The name "charterparty" is an anglicisation of the French ''charte partie'', or "split paper", i.e. a document written in duplicate so that each party retains half. Types of charterparty There are three main types of charterparty: time, voyage and demise and another. * In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and mainten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shipowner
A ship-owner is the owner of a merchant vessel (commercial ship) and is involved in the shipping industry. In the commercial sense of the term, a shipowner is someone who equips and exploits a ship, usually for delivering cargo at a certain freight rate, either as a per freight rate (given price for the transport of a certain cargo between two given ports) or based on hire (a rate per day). Shipowners typically hire a licensed crew and captain rather than take charge of the vessel in person. Usually the shipowner is organized through a company, but also people and investment funds can be ship owners. If owned by a ship company, the shipowner usually performs technical management of the vessel through the company, though this can also be outsourced or relayed onto the shipper through bareboat charter. Shipowners are usually members of a national Chamber of Shipping such as the UK Chamber of Shipping. The International Chamber of Shipping is the global organisation for shipow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carriage Of Goods By Sea Act
The Carriage of Goods by Sea Act ("COGSA") is a United States statute governing the rights and responsibilities between shippers of cargo and ship-owners regarding ocean shipments to and from the United States. It is the U.S. enactment of the International Convention Regarding Bills of Lading, commonly known as the "Hague Rules". It was found in Title 46 Appendix of the United States Code, starting at Section 1301, but has been moved to a note in 46 United States Code 30701.Pub.L. 109-304, § 6(c), Oct. 6, 2006, 120 Stat. 1516 The United States Congress, concerned that the Hague Rules did not offer shippers enough protection against damage to cargo by shipowners, amended the Hague Rules in a number of minor, but important, ways. It increased the amount that shipowners would have to pay cargo owners for damage in transit from GBP 100 per package to US$500 per package or, for goods not shipped in packages, per customary freight unit. This "package limitation" has become one o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Water Transport
Maritime transport (or ocean transport) and hydraulic effluvial transport, or more generally waterborne transport, is the transport of people (passengers) or goods (cargo) via waterways. Freight transport by sea has been widely used throughout recorded history. The advent of aviation has diminished the importance of sea travel for passengers, though it is still popular for short trips and pleasure cruises. Transport by water is cheaper than transport by air, despite fluctuating exchange rates and a fee placed on top of freighting charges for carrier companies known as the currency adjustment factor. Maritime transport accounts for roughly 80% of international trade, according to UNCTAD in 2020. Maritime transport can be realized over any distance by boat, ship, sailboat or barge, over oceans and lakes, through canals or along rivers. Shipping may be for commerce, recreation, or military purposes. While extensive inland shipping is less critical today, the major waterwa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Air Charter
Air charter is the business of renting an entire aircraft (i.e., chartering) as opposed to individual aircraft seats (i.e., purchasing a airline ticket, ticket through a traditional airline). Regulation Charter – also called air taxi or ad hoc – flights require certification from the associated country's civil aviation authority. The regulations are differentiated from typical commercial/passenger service by offering a non-scheduled service. Analogous regulations generally also apply to Air medical services, air ambulance and cargo operators, which are often also ad hoc for-hire services. United States In the U.S. these flights are regulated under FAA Part 135. There are some cases where a charter operator can sell scheduled flights, but only in limited quantities. As of 2021, the FAA had made it a priority to crack down on unauthorised charter flights, according to industry experts. Types of service There are several business models which offer air charter services from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berth (moorings)
A berth is a designated location in a port or harbour used for mooring vessels when they are not at sea. Berths provide a vertical front which allows safe and secure mooring that can then facilitate the unloading or loading of cargo or people from vessels. Locations in a port Berth is the term used in ports and harbors for a designated location where a vessel may be moored, usually for the purposes of loading and unloading. Berths are designated by the management of a facility (e.g., port authority, harbor master). Vessels are assigned to berths by these authorities. Most berths are alongside a quay or a jetty (large ports) or a floating dock (small harbors and marinas). Berths are either general or specific to the types of vessel that use them. The size of the berths varies from for a small boat in a marina to over for the largest tankers. The rule of thumb is that the length of a berth should be roughly 10% longer than the longest vessel to be moored at the berth. Ber ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Layday
In commercial shipping, laytime is the amount of time allowed in a voyage charter for the loading and unloading of cargo. Under a voyage charter or time charter, the shipowner is responsible for operating the vessel, and the master and crew are the employees of the shipowner, not the charterer. However, once the vessel has "arrived" at a port the charterer then assumes responsibility for the loading and unloading of cargo, having a period of laytime in which to carry this out. (Note that the actual loading may be performed by a third-party stevedore). The moment when laytime commences is determined by a Notice of Readiness (or "NOR"), which the master or agent of the ship must give to the port when the ship has arrived at the port of loading or discharge. The charterparty contract determines the precise meaning of "arrival". Usually, "arrival" is when the ship has arrived at the port and is ready in all respects to load or discharge; but it may be, say, when the ship has passed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OW Bunker
OW Bunker, founded in 1980, was a marine fuel (bunker) company based at Nørresundby in northern Denmark. It was the world's largest bunker supplier until its collapse on 7 November 2014. It went from initial public offering (IPO) to bankruptcy in less than a year. The dramatic collapse of the company led to expedited litigation in the English courts (as all the contracts had been declared to be "subject to English Law"). OW Bunker test case: the ''Res Cogitans'' The case was given priority, progressing from an arbitration through the Commercial Court and the Court of Appeal to the Supreme Court in the record time of only ten months. The particular factors of this extraordinary case were these: OW Bunker (OWB) was an intermediary supplier of bunkers to ships. In many cases, it subcontracted this to other wholesale suppliers, obtaining fuel from them on credit. OWB did not require its customers to make immediate payment for bunker, but instead allowed the ships to pay for b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bunkers
A bunker is a defensive military fortification designed to protect people and valued materials from falling bombs, artillery, or other attacks. Bunkers are almost always underground, in contrast to blockhouses which are mostly above ground. They were used extensively in World War I, World War II, and the Cold War for weapons facilities, command and control centers, and storage facilities. Bunkers can also be used as protection from tornadoes. Trench bunkers are small concrete structures, partly dug into the ground. Many artillery installations, especially for coastal artillery, have historically been protected by extensive bunker systems. Typical industrial bunkers include mining sites, food storage areas, dumps for materials, data storage, and sometimes living quarters. When a house is purpose-built with a bunker, the normal location is a reinforced below-ground bathroom with fiber-reinforced plastic shells. Bunkers deflect the blast wave from nearby explosions to prevent ear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yacht Charter
Yacht chartering is the practice of renting, or chartering, a sailboat or motor yacht and travelling to various coastal or island destinations. This is usually a vacation activity, but it also can be a business event. There are two main kinds of charter: bareboat and skippered. Bareboat charters involve a person renting a boat and skippering it themselves. The other way is gathering up a group and renting the yacht with them. Most bareboat companies also offer courses to teach basic seamanship and prepare people for bareboat chartering. These companies also sometimes provide skippered charters, meaning that boat comes with a skipper but no additional crew. Skippered charter means the yacht comes with a crew. This can be anything from a 35-foot boat with a two-person team serving as captain and chef to a 300-foot boat with a squad of 30 or more crew members including stewardesses, escort, engineers, mates, deckhands, scuba dive masters, water sports instructor and the like. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pledge (law)
A pledge is a bailment that conveys possessory title to property owned by a debtor (the ''pledgor'') to a creditor (the ''pledgee'') to secure repayment for some debt or obligation and to the mutual benefit of both parties. The term is also used to denote the property which constitutes the security. The pledge is a type of security interest. Pledge is the ''pignus'' of Roman law, from which most of the modern European-based law on the subject is derived, but is generally a feature of even the most basic legal systems. It differs from hypothecation and from the more usual mortgage in that the pledge is in the possession of the pledgee. It is similar, however, in that all three can apply to personal and real property. A pledge of personal property is known as a pawn and that of real property is called an antichresis. In earlier medieval law, especially in Germanic law, two types of pledge existed, being either possessory (cf. Old English ''wed'', Old French ''gage'', Old High Germ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
