1. Caribbean Maritime University The Highest Studies School of the Merchant Marine Academic Vice Rectory Subject: Marine Transportation Facilitator: MSc. Omar A. Varela The Four Types of Contract Master Mariners Officers:  Adaff Benavides  Luis Fernández  José Hernández  Joaquín Pérez  Carlos González 1

2. Content 2 1.Contract of Affreightment (COA) 2.Time Charter Party 3.Voyage Charter Party 4.Bareboat or Demise Charter Party

3. 1. Contract of Affreightment (COA) 3 Contract of Affreightment (COA) Bills of Lading Charter parties Straight BillSea-Waybill Multimodal / Combined Bill House BillLiner BillTime Charter party Demise / Bareboat Charter party Voyage Charter party

4. Owner Master & C/E Charterer Time Charter Party 4 Demise of the Ship Single Voyage Multi Voyage Sub – Contracts with Third Parties Delivery for a period of time Crew Nautical Operation Maintenance Bunker Port Charges Pilotage

5. Voyage Charter Party 5 Cost ChartererShipowner Bunker Port Charges Extra Insurance Taxes Charges Relating Cargo Loading & Discharging Cost FIO Free In/Out FIOS Free In/Out Stowage FIOST Free in and Out Stowage and Trimmed FILO Free in Liner Out LIFO Line in Free Out Loading & Discharging Cost ChartererShipowner Single Voyage Consecutive Voyage Charter

6. 4. Bare Boat Charter 6 But it´s not the owner The owner is not active in the operation of the vessel Bare Boat Purchase the vessel and hands it over to the charter for a specified period The investor not necessarily a professional Shipowners Company have full operational control of the ship The charterer manages the vessel and pays all operating and voyage costs Usually ten to twenty years

7. Bibliography 7  International Commerce and Shipping Business, first edition, 2012, Omar A. Varela  The Shipping Law Blog GUIDE Contracts of Affreightment, internet page.  Maritime Economy, second edition, 2003, Martin Stopford