Chartering & Charter Parties
A chartering broker may be described as an intermediary between the shipowner & the merchant or the cargo owner. His knowledge must be extensive in order that he may cope with all requirements of his business; he must have a sound knowledge of shipping law, geography, port information, charges throughout the world, facilities at different places, distances between ports, & countless other matters. It also stands to reason that he mus be of the highest character. CHARTER PARTY - A written contract between the owner of a vessel and the one (the charterer) desiring to empty the vessel setting forth the terms of the arrangement, i.e., freight rate and ports involved in the contemplated trip. A contract of affreightment in writing by which the owner of a ship or other vessel lets the whole, or a part of her, to a merchant or other person for the conveyance of goods on a particular voyage in consideration of the payment of freight. This term is derived from the fact that the contract...