Bareboat Charter

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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 ?
A ship owning company, AMSC has nine modern handy size product tankers and one modern handy size shuttle tanker on long term bare-boat charter with OSG.
The bare-boat C/P is not a contract for carriage of cargo but is a contract for hiring the ship on long term basis.
It provides crude oil loading, transportation and storage services under time charters and bare-boat charters.It had a fleet of 13 shuttle tankers as of 30 June 2017 and KNOT Offshore Partners GP LLC serves as the general partner of the company.
These contracts are representative across time and bare-boat charter arrangements with contracts secured with new clients, contracts being renewed as well as option extensions being exercised with existing clients who have established relationships and have been working in tandem with the Group.
The company owns two of the ships, while the remaining are hired on bare-boat charter.
It provides crude oil loading, transportation and storage services under time charters and bare-boat charters and as of 18 March 2016, it had a fleet of 10 shuttle tankers.
The joint venture company has gained a 5year, bare-boat contract estimated to be worth above US$27 million.
The agreement covers a 10-year bare-boat charter of the 37,000 dwt stainless steel parcel tankers NCC Jubail, NCC Mekka and NCC Riyad, and a six-year charter for the 23,000-24,728 dwt vessels NCC Baha, NCC Asir and NCC Arar.
The charter was fixed at a bare-boat rate of USD23,000 per day.
The vessel has been under bare-boat contract to Svithoid Tankers, but the acquisition price is lower than the charter rate.
Norwegian floating production, storage, and offloading unit (FPSO) operator Aker Floating Production ASA said on Thursday (10 May) that it has received a bare-boat charter contract for its first FPSO vessel, the Aker Smart 1.