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What is a time charter?

A contract for the hire of a specified vessel, and its crew, for an agreed period. 

The charterers basically agree to hire from the shipowners a named vessel, of specified technical characteristics, with its crew, for a specified period of time, for agreed purposes, subject to agreed restrictions as to use of the vessel.

 

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Written by Ship Inspection

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In road transport terms, what is a time charter similar to?

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