Bareboat Charter


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Related to Bareboat Charter: Time Charter

Bareboat Charter

An agreement whereby one rents a boat without a crew. That is, the renter is responsible for providing a crew and, for that reason, is in complete control of the operations of the boat during the rental period. This differs from a voyage charter, whereby the renter can direct where the boat goes, but in which the owner provides the crew and maintains control over their activities.
References in periodicals archive ?
In addition to vessel disposals in line with the "Transforming for Beyond" action plan, BOURBON sold older vessels in 2013 for a total value of US$ 183 million, some of which included a bareboat charter agreement.
Upon completion of this operation with the last vessel to be delivered mid-2014, BOURBON would operate 230 supply vessels (PSV, AHTS, IMR), including 54 under bareboat charter.
Unlike the vessels on bareboat charter, vessels on time charter may go off-hire.
Daily operating expenses for Jones Act ATBs in the third quarter of 2009 were $573 per day higher than in the third quarter of 2008 due primarily due to the charter-in by OSG of the OSG 400, which charter-in was converted from a time charter to a bareboat charter in November 2008.
FSL Trust offers its services exclusively on a long-term bareboat charter basis with lease terms of at least seven years at lease inception.
During the first quarter of 2009, seven of the Company's Handymax tankers operated under long-term employment contracts that provide for a base rate and additional profit sharing earning on average $17,204 per vessel per day on a time charter equivalent (TCE) basis, including profit-sharing allocated to the Company and four under bareboat charter earning on average $13,990 per vessel per day.
However, the impact of the bareboat charter measure could potentially undermine both of these principles.
Armada Kraken Pte Ltd secured the funds for a bareboat charter contract, which it has received for the Kraken field.
It is on a five year bareboat charter from Polarcus to Sovcomflot.
Ltd of China ( SWS ) to bareboat charter , two fuel efficient Newcastlemax dry bulk vessels, hull numbers 1372 and 1371 each with a cargo carrying capacity of 208,000 deadweight tons, which are currently under order at SWS , at a monthly hire rate for each CSSC vessel ranging between $371,000 to $410,800 plus LIBOR, the company said in its press release.
As each vessel is completed, it is sold to Aker American Shipping for bareboat charter to OSG America.
Ltd of China ( SWS ) to bareboat charter, two fuel efficient Newcastlemax dry bulk vessels, hull numbers 1372 and 1371 (collectively, the CSSC Vessels ) each with a cargo carrying capacity of 208,000 deadweight tons, which are currently under order at SWS, at a monthly hire rate for each CSSC vessel ranging between $371,000 to $410,800 plus LIBOR.