What is the difference between bareboat and time charter?
Vessels on bareboat charter are chartered out “as is” – meaning that the ship’s operating, voyage and maintenance expenses (including crewing) will be borne by the charterer. In the case of time charter, the shipowner is responsible for paying the vessel’s operating and maintenance expenses including crewing and insurance. However, voyage expenses including bunker fuel, port expenses and cargo operation costs are to be borne by the charterer.
