Chartering services involve facilitating the process of hiring ships for transportation needs. These services act as intermediaries between charterers (those in need of shipping services) and shipowners or operators. Here’s how chartering services typically work:
Understanding Client Needs: Chartering service providers begin by understanding the specific requirements of their clients.
Accessing Vessel Options: Chartering services maintain databases of available vessels for charter, including information on their specifications, availability, and current locations.
Negotiating Charter Terms: Chartering services negotiate charter terms on behalf of their clients.
Drafting Charter Agreements: Once terms are agreed upon, chartering services assist in drafting the charter party agreement, which is a legally binding contract between the charterer and the shipowner or operator.
Commencement of Charter: The charter begins according to the terms outlined in the charter party agreement.
Performance of Charter: Throughout the charter period, the charterer is responsible for operating the vessel in accordance with the terms of the agreement.
Completion of Charter: Once the charter period ends, the vessel is returned to the shipowner or operator in the agreed-upon condition.
