Presentation on theme: "The Four Types of Contract"— Presentation transcript:
1 The Four Types of Contract CARIBBEAN MARITIME UNIVERSITYACADEMIC VICERRECTORYTHE HIGHEST STUDIES SCHOOL OF THE MERCHANT MARINESUBJECT: MARINE TRANSPORTMASTER MARINERS & CHIEF MARINE ENGINEERSThe Four Types of ContractMaster Mariners Officers:Jean Franco AcostaAlberto BastidasIvan FonsecaFrancisco HernandezJorge MedinaCARACAS, DECEMBER 3TH OF 2014
2 Types of contract Contract of Affreightment (COA) Time Charter Party Voyage Charter PartyBareboat or Demise Charter PartyTypes of contract
3 Contract of Affreightment (COA) INTERCOA(Intertanko Adopted by BIMCO)VOLCOABulk Dry CargoesStraight BillSea-WaybillMultimodal / Combined BillHouse BillLiner BillTime Charter partyDemise / Bareboat Charter partyVoyage Charter partyTYPEContract of Affreightment (COA)Charter partiesBills of LadingTYPE OF CONTRACTESPECIALLY FOUND TO CARGOS LIKE OF METALLURGICAL MATERIALSESPECIALLY FOUND TO CARGOS LIKE THAT OF COAL.ESPECIALLY FOUND TO CARGOS LIKE OF STONES
4 2. Time Charter Party Vessel Hired CHARTERER SHIPOWNER Singles voyages BunkerPort ChargesPilotageSub-Chapter the vessel on a time charter or voyages charter basisSingles voyages& MultiboyasVessel HiredDelivery Specific amount timeCrewNautical OperationMaintenanceTIME CHARTERCHARTERERSHIPOWNERMaster & C/ESub contract with third parties
5 3. Voyage Charter Party COST Charges relating cargo CHARTERER FIOFREEIN/OUTFIOS / FREE IN – OUT STOWAGEFIOST / FREE IN & OUT STOWAGE AND TRIMMEDFILO / FREE IN LINER OUTLIFO / LINE IN FREE OUTFIOFREEIN/OUTFIOS / FREE IN – OUT STOWAGEFIOST / FREE IN & OUT STOWAGE AND TRIMMEDFILO / FREE IN LINER OUTLIFO / LINE IN FREE OUTCHARTERERCOST“LOADING & DISCHARGED OPERATION”Single VoyageConsecutive VoyageSHIPOWNERBUNKER EXTRA INSURANCES TAXESMasterSupply
6 4. BareBoat Charter Party Paid crew, supplies, fuel, customs, dutiesHires the vessel to a charter for a price during a period of timeOWNERCHARTERResponsable for all maintenance & most suitable for tankers and bulk carriersLease the vessel under another financial or Technical ResponsibilityGets the hire of the vessel with or without purchasing option become himself in a maritime operatorIs not active in the operation of the vessel
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