Time Charter

Definitions #

A charter agreement where the ship owner provides a crewed ship, and the charterer pays hire for a set period of time to use the vessel for specified voyages.

Technical A charterparty under which the shipowner places the vessel at the charterer's disposal for a fixed duration, with the charterer directing commercial employment and trading limits.

Example Under the time charter, the charterer paid hire daily while the owner covered crew wages and insurance.

Etymology #

From Old French 'charte' (document), via Latin 'chartula' (small paper); 'time' refers to the fixed duration.

Collocations #

time charterparty 期租合同
hire payment 租金支付（按日/月）
off-hire clause 停租条款（如机械故障）

Real Business Examples #

The charterer redelivered the vessel one day late, incurring a penalty under the time charter.
Owners and charterers negotiated a new time charter rate for the Capesize vessel.

Register & Variants #

Register: formal
BrE/AmE: 全球通用

Synonyms & Antonyms #

Synonyms: TC
Antonyms: voyage charter

Common Errors #

Assuming fuel is always covered by the owner In a time charter, charterer pays for fuel unless contract states otherwise.

Confusable Terms #

voyage charter vs Time Charter: Pays per voyage vs time period.

Frequently Asked Questions

Who is responsible for hull insurance??

The owner remains responsible for hull insurance in most time charters.

Published: 2026-09-27 Category: Shipping