Owners and Charterers

In the shipping industry, "Owners" refers to the individuals or companies that own the ships. They are responsible for the vessel's maintenance, crew, and overall operation. "Charterers," on the other hand, are those who lease the ship for specific voyages or periods. They pay the Owners to use the ship to transport goods or cargo. This arrangement allows Charterers to access shipping services without having to invest in owning a ship, while Owners can earn revenue from their vessels when not in use. Together, they form a vital part of global trade and logistics.