ship chartering

Ship chartering involves renting an entire vessel or part of its space for transporting goods or passengers. The ship owner, or "shipowner," agrees to provide the ship, while the "charterer" pays for the use of the ship over a specified period or journey. There are different types of charters, like "time charter" (renting for a specific time) or "voyage charter" (for a particular voyage). This arrangement allows companies to move large quantities of cargo efficiently without owning a ship, providing flexibility in logistics and cost management.