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1 Demise charters are those by which, in return for payment of hire, possession of the chartered ship is given to the charterers, who provide crew and all supplies, pay all running costs and undertake the responsibility of shipowner to those whose goods are carried on the vessel.

Many ship owners hire out or lease out the ship to another party. What is the difference between Bareboat Charter and Demise Charter? If ship owners lease the ship with ship owner's crew members it is called Demise Charter. If ship owners lease the ship without crew members it is called Bareboat Charter.

Daily Charter Rate means in respect of the Charter Period, a rate calculated in ance with the formula: Daily Charter Rate = Notional Daily Charter Rate x Actual Owners' Cost Notional MOA Purchase Price.

The three most common types of charter contracts are the voyage charter, the time charter, and the demise (or bareboat) charter.

A demise charter, or bareboat charter, is an arrangement for the hiring of a vessel for which no administration or technical maintenance is included as part of the agreement. The charterer obtains possession and full control of the vessel, along with the legal and financial responsibilies for it.

A demise charter operates as a long lease of the vessel, with the charterer completely in charge. In time and voyage charters, the shipowner still runs the ship, but when in port the charterer becomes responsible for loading and unloading the ship within the agreed period of laytime.

A bareboat charter, or demise charter, is an arrangement for the chartering or hiring of a ship or boat for which no crew or provisions are included as part of the agreement. Instead, the people who rent the vessel from the owner are responsible for taking care of such things.