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But now, each minute matters and each hour of off-hire need explaining. Today in this blog, we will discuss about time charter and what seafarers need to be aware of when the vessel is under a time charter. Shipowner buys a ship to earn a hire by letting someone the shipper use the space on their ship to carry cargo from one place to other. In the ideal world, the shipper has the cargo and should directly contact a shipowner for transporting their cargo. When we need to buy land, it is difficult to find a direct seller.
Same goes for the seller for whom it is difficult to whats the age restriction for forex a direct buyer. We approach a property dealer who has a number of sellers as well as buyers for different properties. In fact, they themselves hire the ship and arranges to fill the space of the ship with cargoes from one or many whats the age restriction for forex. Every stakeholder has different responsibilities under each type of charter. Let us discuss each type of charter. The shipowner receives the freight on per day basis which is settled every month or every quarter.
Similar to the voyage charter party agreement, for time charter the shipowner and charterer would have a time charter party agreement. In the agreement copy provided to the ship, the figures and data like freight rate, etc may have been deleted to maintain confidentiality. The master must read these instructions carefully and highlight the key instructions for follow up. The charterer would not be concerned about any delay because of the vessel as it is the vessel and shipowner that would lose that time.
If you have hired the cab at a pre-agreed rate, whats the age restriction for forex, you would not be so much worried about the time the cab takes to reach the destination. The charterer is paying the shipowner per day basis pro-rata and any delay by the ship is a loss for the charterer. Our responsibility as seafarers is to keep the off-hires to as close as possible to the zero hours. For any off-hire, the vessel needs to send the off-hire report which lists the total off-hire time and fuel consumed during this off-hire time.
Sometimes time charter party agreement may allow certain hours of off-hour per instance which will not be charged to the shipowner. If the owners manage to keep the off-hire time for one instance to less than 3 hours, this would not count as off-hire and no reimbursement need to be paid to the charterers by the shipowner….
For example, if the cargo tanks were failed by the cargo surveyor and after corrective action by the ship staff if the tanks were passed within 3 hours then there would not be any off-hire. Ship managers would then forward or ask the master o forward the off-hire report to the charterers. If it does, you would end up paying more money as it would take more time to reach the destination. Similarly, under time charter, whats the age restriction for forex, the charterer would want the ship to run at speed declared by the shipowner or agreed in the charter party agreement.
But what if the vessel is experiencing rough weather and master is not able to maintain the charter party speed? So say, the vessel is required to maintain 13 knots of speed when the wind speed is less than BF 6. If the wind force is 6 or more, the speed for that period will not count as under-performance of the ship.
This makes it so much important to note down the weather conditions correctly in the deck log book as well as in the noon report. At the end of an agreed period each voyage, quarter, half yearly or yearly as agreed in charter party agreement the performance of the vessel with respect to speed will be analyzed. This would be the fuel that shipowner whats the age restriction for forex delivered to the charterers at the time of delivery of the ship.
When the charterer hands over the vessel back to the shipowner, the bunker survey is again carried out, whats the age restriction for forex. It would be another way around if the bunkers at the time of redelivery are more than the bunker that was handed over to the charterers at the time of vessel delivery. When the vessel is under time charter, the agent at load port and discharge port would be appointed by the charterers. Usually, the agents are there to help ship whats the age restriction for forex but if the vessel is on time charter, we need to be whats the age restriction for forex cautious while handling with an agent.
In a time charter, the loyalty of the agents lie with the charterer and not with the ship staff or shipowners. Masters must be aware that as the agent is being paid by the charterer and not the shipowner, they may not go out of their way to help the vessel.
This is particularly important in matters that lie under the responsibility of the ship staff, shipowners or managers. This may not be the case with some professional agencies but nevertheless, masters need to be aware of this.
Under the time charter, the charterer may claim for under-performance of the vessel and seek compensation from the shipowner for loss in time. But there would whats the age restriction for forex occasions when it would actually be the delay from the shore and which is being claimed to be ship delay, whats the age restriction for forex. Apart from that accurately recording all the timings in the port log is important to support SOF and letter of protest.
The letter of protest would help the ship staff and shipowner to prove that vessel under-performed because of the shore side restrictions, whats the age restriction for forex. The time charter agreement or the instructions to master provided onboard may have the minimum loading or discharge rate vessel need to maintain.
While the vessel needs to make sure that they comply with this but they must not over-rely on these instructions. This does not mean that there is no need to issue a letter of protest for any restrictions from the shore side. While on time charter, the charterer may ask the master to perform some tasks which may be unsafe or is not as per the industry guidelines.
And it is important that we understand where the loyalties of each party that we are interacting with lies. Rajeev Jassal has sailed for over 20 years whats the age restriction for forex on crude oil, product and chemical tankers. He has done extensive research on quantitatively measuring Safety culture onboard and safety climate ashore which he believes is the most important element for safer shipping. Now this Topic is crystal clear for me Thank you very much sir I found All of your blogs are really helpful I am appearing for meo class 1 from mumbai You are doing a great job sir.
i advise anyone looking for a forex and crypto trader in terms of account mentorshp to reach out to Mrs Thomas Mary for she has really help me know the better part of trade. I have made a lot of profit with her guidiance. you can reach her on her email adress thomasmary gmail. Great explanation sir. Thank you so much.
Also Please explain about various charter party terms and abbreviations. very nicely explained!!! am new to this blog. am very surprised to see this blog. will read other topics soon. Very good and informative article.
I would like to know that how to do we count as a voyage? As far as I know a voyage starts from Arrival port and ends also at Arrival port and this is based on container vessels. But what about bulk carriers? Is it their voyage starts from loading cargoes and ends at complete discharging in arrival port? Under the time charter, the terms used are delivery of the ship to the charterer and redelivery of the ship to the shipowner.
These are decided by the charterer and ship owner in the agreed charter party. For the voyage charter the freight is considered basis arrival load port and back to same port but it can be changed by agreement between ship owner and charterer, whats the age restriction for forex. Nice Article!! ATLAS is an ISO Certified Testing Laboratory duly certified by International Council for Machinery Lubrication — ICML Certified Level II Machinery Lubricant Analyst MLA II We are a state-of-the-art laboratory carrying out various tests for Lubricating Oils and Petroleum products.
Over the years ATLAS Labs has provided a reliable platform in the field of testing and today is in the position to provide its analysis services to large national and international clients on a global scale. Respected Sir! Very well explained about Time Charter with calculation and diagrams, along with the cost expenses that is being borne by Charterer with reasons, which sounds to be quite helpful as student.
May I please request you to write on Demurrage and Laytime Calculation. Thank You! HiCan you advise what is the charter party speed? is it speed over ground or speed through water? Hi, can you please explain why its not acceptable for the master to keep the original BoL onboard between last port of loading and destination port of arrival? Dear Capt Rajeev Jassal I appreciate your Curiosity to transfer your knowledge am glad of and it is very helpful to me.
On a Time charterer agreement for one year, What is the best numbers of days that can be use to calculate a month. Excellent article Sir Thank you Q. Will laytime,Demurrage and despatch affect the Shipowner in Time Charterers?
Nice Whats the age restriction for forex Sir Request you to please write blog on bareboat charterer and contract of Affreightment Also on insurance Policy and its principles And clauses of various charter party. Very well said Sir, like what the saying said wrong information is worst than ignorance. Very much helpful for us who is aspiring to be a Master in the whats the age restriction for forex and all your explanation are clear and well understood. Thumbs up with 5 star Sir.
God bless!! Nice Blog!! The content you have shared is very elaborative and informative. Thanks a lot for sharing such a great piece of knowledge with us. The article embracing international shipping. And the information regards of entertaining international shipping blogs helps a lot., whats the age restriction for forex.
Dear Capt Rajeev Jassal.
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28/04/ · i advise anyone looking for a forex and crypto trader in terms of account mentorshp to reach out to Mrs Thomas Mary for she has really help me know the better part of trade. I have made a lot of profit with her guidiance. you can reach her on her email adress thomasmary@blogger.com or reach her on her whatsapp + The latest Lifestyle | Daily Life news, tips, opinion and advice from The Sydney Morning Herald covering life and relationships, beauty, fashion, health & wellbeing We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university, master's or pHD, and we will assign you a writer who can satisfactorily meet your professor's expectations
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