Ship Chartering Services
Ship Chartering is an increasingly common activity in the shipping sector as more companies realize the great benefits of procuring a chartered ship for their own use. Chartering is a contractual activity between a shipowner and a charterer wherein the latter agrees to take over the management, operation, maintenance, and safety of the ship for a fixed period of time. The term of the contract between the two parties is known as a charter. There are three basic charter types: ordinary charter, death-of-capture charter, and ordinary day charter. Here’s a brief description of each:
Exchange of Risks
‘Exchange of risks’ is one of the most important concepts of ship chartering. This means that the charterer makes the Ship available for travel throughout the specified period even though at times, the ship may be incapable of performing to the satisfaction of the charterer. This also refers to the risk that exists when the vessel is on the high seas. In addition, it also indicates the need for constant communication between the owner and the captain. Most of the charterers are well versed with the procedures to be followed during international trade.
Duty of care
The second most significant concept of ship chartering contracts is the duty of care. The duty of care essentially means that the charterers bear the major responsibility of ensuring the safety of the passengers and crew of the vessel while they are on the ship. For instance, a ship may have a very dangerous ocean voyage that requires extensive repairs on time. It is the duty of the charterers to ensure that all passengers are in good condition at all times and that the crew is efficient and does its job correctly. The safety of cargoes is the topmost priority in all cases.
Accountability of the Ship
Apart from the above-discussed issues, there are other major concerns of the freight owner when he/she seeks to charter a ship. One major concern of the shipowner is the security or accountability of the ship. This issue can be resolved by ensuring that the owner has adequate control over the movement of the ship and has adequate authority to request the Coast Guard or the Police to inspect the movement of the ship or any cargo on board. The ship chartering contract should ensure that the cargo owner gives appropriate instructions to the master regarding the safe and recovery of the cargo in case of an emergency.
Another important thing to consider while looking to charter a ship is the services that are offered by the charterers. Services offered by the charterers must include services like provision of spare parts, maintenance of the vessel, provision of fuel, etc. Since many of the voyages are very long-distance journeys, the provision of spare parts can prove to be very beneficial to the owners. There are many companies that provide cargo services such as container, bulk cargo, tanker, etc.
Types of Freight Services
Many of these companies also have other specialties apart from general freight services. Some of them offer specialized sea freight or ocean freight services for those who wish to embark or disembark cargo from the sea. These specialized services cost more than normal freight rates but can be a boon to businessmen since they are able to embark and disembark cargo from the sea and other bodies of water within 24 hours. They are also able to use more efficient and specialized equipment including tugboats, cranes, etc.
What to Consider While Chartering a Ship
There are a few things that shipowners should be concerned about when they hire the services of charterers. One of the important points of concern is insurance. It should be ensured that the insurance offered by the charterers to their clients is comprehensive, reliable, and effective. The cost of insurance will vary and depend on the type of services being offered by the charterers. Since most of the companies providing voyage charter services are chartered by shipping corporations, it is easy for them to obtain a wide range of insurance cover at the same time.
When it comes to crew safety, strict vigilance is the name of the game. Crew members must be constantly monitored for any kind of foul behavior so as to prevent accidents that may lead to catastrophic damage not only to the charter ship but also to the crew and the cargo. Any kind of negligence on the part of the crew and the captain in charge can lead to catastrophic damage to the vessel and the lives of all the passengers and crew on board. For this reason, it is important that the charter ship owner and the crew must keep each other updated with their daily activities so as to minimize potential risks and mistakes.
Looking for Ship Chartering Services in Bangladesh? Contact Marine Solution BD
If you are looking for the best quality ship chartering services in Bangladesh, Contact Marine Solution BD. We are a top-notch marine solution services provider in Bangladesh. We have a team of very hardworking and experienced. Contact us for any kind of shipping, Industrial and offshore solution.
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