Maritime Glossary
Charter Party
Also known as: C/P
A contract between a shipowner and a charterer for the hire of a vessel or cargo space.
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Full Definition
A charter party specifies the terms on which a vessel or its cargo space is hired. Main types: voyage charter (hire for one or more voyages), time charter (hire for a period), and bareboat (demise) charter (hire of the bare hull). Standard forms such as GENCON (voyage) and NYPE (time charter) are widely used. Key clauses govern freight or hire rate, laytime, demurrage, dispatch, off-hire, and maintenance responsibilities.
Domain Tags
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