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Charter-party
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a hirer ("charterer") for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure. Charterparty is a contract of carriage of cargo in the case of employment of a charter boat. It means that the charterparty will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference to the agreed terms and conditions as embodied in the charterparty. The name "charterparty" is an anglicisation of the French ''charte partie'', or "split paper", i.e. a document written in duplicate so that each party retains half. Types of charterparty There are three main types of charterparty: time, voyage and demise and another. * In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and maintenan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Of Lading
A bill of lading () (sometimes abbreviated as B/L or BOL) is a document issued by a common carrier, carrier (or their Law of agency, agent) to acknowledge receipt of cargo for shipment. Although the term is historically related only to Contract of carriage, carriage by sea, a bill of lading may today be used for any type of carriage of goods. Bills of lading are one of three crucial documents used in international trade to ensure that exporters receive payment and importers receive the merchandise. The other two documents are a insurance policy, policy of insurance and an invoice. Whereas a bill of lading is negotiable, both a policy and an invoice are assignment (law), assignable. In international trade outside the United States, bills of lading are distinct from waybills in that the latter are not transferable and do not confer title. Nevertheless, the UK Carriage of Goods by Sea Act 1992 grants "all rights of suit under the contract of carriage" to the lawful holder of a bill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suisse Atlantique Societe D'Armament SA V NV Rotterdamsche Kolen Centrale
''Suisse Atlantique Societe d'Armament SA v NV Rotterdamsche Kolen Centrale'' 9671 AC 361 is a landmark English contract law decision of the House of Lords, concerning the notions of fundamental breach of contract and inequality of bargaining power. It was subsequently upheld by another House of Lords case, '' Photoproductions v Securicor'', and together these two cases form the definitive statement of the common law prior to the Unfair Contract Terms Act 1977. Facts The case involved a two-year time charter to export coal from Europe to the USA. The ship was to make as many trips as possible, and the owners were to be paid an agreed freight rate according to the amount of cargo carried. If the laytime were exceeded, the charterers were to pay demurrage of $1000 per day. Serious delays occurred because the charterers had difficulty both in getting cargo to the port, and in loading and unloading efficiently. Nevertheless, the shipowner did not cancel the contract, but allowed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shipowner
A shipowner, ship owner or ship-owner is the owner of a ship. They can be merchant vessels involved in the shipping industry or non commercially owned. In the commercial sense of the term, a shipowner is someone who equips and exploits a ship, usually for delivering cargo at a certain freight rate, either as a per freight rate (given price for the transport of a certain cargo between two given ports) or based on hire (a rate per day). Shipowners typically hire a licensed crew and captain rather than take charge of the vessel in person. Usually the shipowner is organized through a company, but also people and investment funds can be shipowners. If owned by a ship company, the shipowner usually performs technical management of the vessel through the company, though this can also be outsourced or relayed onto the shipper through bareboat charter. Shipowners are usually members of a national Chamber of Shipping such as the UK Chamber of Shipping. The International Chamber of Shippin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more Party (law), parties. A contract typically involves consent to transfer of goods, Service (economics), services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek legal remedy, judicial remedies such as damages or equitable remedies such as specific performance or Rescission (contract law), rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that pacta sunt servanda, agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Water Transport
Maritime transport (or ocean transport) or more generally waterborne transport, is the transport of people (passengers or goods (cargo) via waterways. Freight transport by watercraft has been widely used throughout recorded history, as it provides a higher-capacity mode of transportation for passengers and cargo than land transport, the latter typically being more costly per unit payload due to it being affected by terrain conditions and road/rail infrastructures. The advent of aviation during the 20th century has diminished the importance of sea travel for passengers, though it is still popular for short trips and pleasure cruises. Transport by watercraft is much cheaper than transport by aircraft or land vehicles (both road and rail), but is significantly slower for longer journeys and heavily dependent on adequate port facilities. Maritime transport accounts for roughly 80% of international trade, according to UNCTAD in 2020. Maritime transport can be realized over any ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Air Charter
Air charter is the business of renting an entire aircraft (i.e., chartering) as opposed to individual aircraft seats (i.e., purchasing a ticket through a traditional airline). Regulation Charter – also called air taxi or ad hoc – flights require certification from the associated country's civil aviation authority. The regulations are differentiated from typical commercial/passenger service by offering a non-scheduled service. Analogous regulations generally also apply to air ambulance and cargo operators, which are often also ad hoc for-hire services. United States In the United States, these flights are regulated under FAA Part 135. There are some cases where a charter operator can sell scheduled flights, but only in limited quantities. As of 2021, the FAA had made it a priority to crack down on unauthorised charter flights, according to industry experts. Types of service There are several business models which offer air charter services from the traditional cha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berth (moorings)
A berth is a designated location in a port or harbour used for mooring vessels when they are not at sea. Berths provide a vertical front which allows safe and secure mooring that can then facilitate the unloading or loading of cargo or people from vessels. Locations in a port Berth is the term used in ports and harbors for a designated location where a vessel may be moored, usually for the purposes of loading and unloading. Berths are designated by the management of a facility (e.g., port authority, harbor master). Vessels are assigned to berths by these authorities. Most berths are alongside a quay or a jetty (large ports) or a floating dock (small harbors and marinas). Berths are either general or specific to the types of vessel that use them. The size of the berths varies from for a small boat in a marina to over for the largest tankers. The rule of thumb is that the length of a berth should be roughly 10% longer than the longest vessel to be moored at the berth. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lay Day
__NOTOC__ In commercial shipping, laytime is the amount of time allowed, measured in days (or portions thereof), hours, or even tides, within a voyage charter for the loading and unloading of cargo. Under a voyage charter or time charter, the shipowner is responsible for operating the vessel, and the master and crew are the employees of the shipowner, not the charterer. However, once the vessel has "arrived" at a port the charterer then assumes responsibility for the loading and unloading of cargo and has a period of laytime in which to carry that out. The actual loading may be performed by a third-party stevedore. The moment that laytime commences is determined by a Notice of Readiness (or "NOR"), which the Captain (nautical), master or agent of the ship must give to the port when the ship has arrived at the port of loading or discharge. The charterparty contract determines the precise meaning of "arrival". Usually, "arrival" is when the ship has arrived at the port and is ready ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OW Bunker
OW Bunker, founded in 1980, was a marine fuel (bunker) company based at Nørresundby in northern Denmark. It was the world's largest bunker supplier until its collapse on 7 November 2014. It went from initial public offering (IPO) to bankruptcy in less than a year. The dramatic collapse of the company led to expedited litigation in the English courts (as all the contracts had been declared to be "subject to English Law"). OW Bunker test case: the ''Res Cogitans'' The case was given priority, progressing from an arbitration through the Commercial Court and the Court of Appeal to the Supreme Court in the record time of only ten months. UCL Commercial Maritime Law Conference paper: "The Res Cogitans" by Stephen Cogley QC The particular factors of this extraordinary case were these: OW Bunker (OWB) was an intermediary supplier of bunkers to ships. In many cases, it subcontracted this to other wholesale suppliers, obtaining fuel from them on credit. OWB did not require its custome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bunkers
A bunker is a defensive military fortification designed to protect people and valued materials from falling bombs, artillery, or other attacks. Bunkers are almost always underground, in contrast to blockhouses which are mostly above ground. They were used extensively in World War I, World War II, and the Cold War for weapons facilities, command and control centers, and storage facilities. Bunkers can also be used as protection from tornadoes. Trench bunkers are small concrete structures, partly dug into the ground. Many artillery installations, especially for coastal artillery, have historically been protected by extensive bunker systems. Typical industrial bunkers include mining sites, food storage areas, dumps for materials, data storage, and sometimes living quarters. When a house is purpose-built with a bunker, the normal location is a reinforced below-ground bathroom with fiber-reinforced plastic shells. Bunkers deflect the blast wave from nearby explosions to prevent ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yacht Charter
Yacht chartering is the practice of renting, or chartering, a sailboat or motor yacht and traveling to various coastal or island destinations. There are three main kinds of charter: bareboat, skippered and crewed. Bareboat charters require the client to skipper the boat themselves, while skippered charters include both boat and a professional skipper. Crewed charters are staffed by a captain and professional crew that can include chefs, engineers, deckhands, and stewards. Most bareboat charter companies offer basic seamanship courses to prepare clients for handling a boat. These companies may also provide skippered charters, which include a skipper, but no additional crew. Types Several factors determine the cost of a charter, including the size of the yacht, its age, its pedigree, the number of crew, time of sailing (whether it is high season or not), and the destination. The time of year is another important factor, as rates tend to vary depending on whether it's peak seaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pledge (law)
A pledge is a bailment that conveys title to property owned by a debtor (the ''pledgor'') to a creditor (the ''pledgee'') to secure repayment for some debt or obligation and to the mutual benefit of both parties. The term is also used to denote the property which constitutes the security. The pledge is a type of security interest. Pledge is the ''pignus'' of Roman law, from which most of the modern European-based law on the subject is derived, but is generally a feature of even the most basic legal systems. A pledge of personal property is known as a pawn. Features The pledgee has the right of selling the pledge if the pledgor fails to make payment at the stipulated time. No title to a third party purchaser is guaranteed following a wrongful sale except in the case of property passing by delivery, such as money or negotiable securities. In all other cases, persons must show that they are a bona fide purchaser, for (good) value, without notice (BFP). In the case of some type ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
