Charter party
A charter party is a contract between a shipowner and a charterer for the use of a vessel. The contract outlines the terms and conditions of the charter, including the duration, freight rate, and responsibilities of both parties, facilitating the transportation of goods by sea.
Related glossary terms
Affreightment Contract of
A contract of affreightment is a legal agreement where a shipowner transports goods for a fee. Learn about charter parties, voyage terms, and cargo liability.
Affreight
Affreight is the act of hiring a vessel to carry goods under maritime law. A shipowner and charterer agree on terms via a charter party for cargo transport.
Carrier
A carrier is an individual or company that transports goods between locations using one or more modes of transport, including sea, air, rail, and road freight.
Ocean Freight
Ocean Freight refers to transporting goods by sea using container ships or bulk carriers, the dominant mode of international trade due to its large-volume…
