Charter a Ship
CharteringIs an activity in the shipping industry. Sometimes a charterer may have cargo and use a shipbroker to get a ship to deliver the cargo for a certain price, known as freight price. Freight prices is on a per-ton basis over a specific course (e.g. for iron ore between Brazil and China), in Worldscale things (in case of oil tankers) or as an alternative might expressed when it comes to a complete sum - normally in U.S. dollars - each day when it comes to agreed duration for the charter.
A charterer may also be a party without a cargo which takes a vessel on charter for a specific period from the owner and then trades the ship to transport cargoes at a profit above the hire rate, and on occasion even makes a profit in a rising marketplace by re-letting the ship off to various other charterers.
With regards to the form of ship therefore the sort of charter, typically a standard agreement kind called a charter-party is used to capture the exact rate, period and terms decided between the shipowner plus the charterer.
Time Charter Equivalent is a regular shipping industry overall performance measure used mostly evaluate period-to-period alterations in a shipping business's overall performance despite changes in the mix of charter types.