Time Chartering

Time Chartering

Delivery under time chartering usually takes place at planned location or range and within certain period, which by analogy with voyage charter.

As to geographical position of the vessel at the date of delivery it must meet requirement that the vessel is at the immediate and effective disposition of the charterers. The concept of time chattering has a lot of similarity with one developed in voyage charters, although, terms related to place of delivery in time charter are less stringent as compared with a berth or a port voyage charters.

Usually time charter provides for locations such as ‘dropping last outward pilot’ where exact vessel’s location at the moment of delivery is of no importance. But whatever general description of delivery place might be, failure of the owners to deliver their vessel at such place gives the charterers a right to refuse delivery. Mechanism of invocation of cancelling clause is similar to that in voyage charter contracts.

Benefit of Charting:

  1. Secure weight availability from a known and, perhaps, trusted source
  2. Quantify the transportation expense
  3. Save time and effort


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