Time Charter

A time charter is a type of rental agreement in the shipping industry where a ship owner leases their vessel to a charterer for a specific period. The charterer pays for the use of the ship, and they have control over its operations, including routes and cargo. However, the owner remains responsible for the crew, maintenance, and the legal aspects of the ship. This arrangement allows businesses to transport goods without needing to buy their own vessels, providing flexibility and cost efficiency in maritime logistics.