If a vessel was fixed on “net charter” terms, this meant that after delivery of the vessel in the first port of loading, charterers paid all additional port charges, cost of loading and discharging in the first and any additional port of loading and in the port or ports of discharge. After completion of discharge the vessel was redelivered to owners and the outward port charges from the port of redelivery was for owners’ account.
Under a “net charter” the freight paid to shipowners is therefore more or less “net”, almost “net profit”.
Fixtures of vessels on “net charter” do not occur frequently nowadays. The expression “net charter” was almost entirely confined to American usage.