1
Type Speaker CPD Hours Level
Webinar
1.25 IntroductionInformation
SRA Competency B

Introduction

A time charter is a contract for services where the owner hires out their vessel to the charterer together with its master and crew for an agreed period of time.

During that time, the charterer will pay periodic hire payments to the owner. The owner earns money by being paid hire on a regular basis and the charterer may in turn make money by entering into other contracts.

Issues and disputes can arise between the owner and charterer under a time charterparty, particularly if a vessel is chartered for a long period.

It is therefore important for parties to understand their rights and liabilities, the potential areas where disputes may be fertile and the remedies which are available to them if a dispute arises.

This webinar will provide you with an introduction to time charters under English law and focuses on the legal and practical issues which arise from some of the key terms in a time charter.

It will also focus on hire clauses, highlighting how the risk is allocated between the parties, the potentially problematic areas and provides practical tips when issues arise.

What You Will Learn

This webinar will cover the following:

  • Nature of a time charter:
    • A contract for services
    • The commercial reasons for time chartering
    • The transfer of trading risk between the owner and charterer
  • Time charters in the context of international trade:
    • How the time charter fits in with other contracts (the bill of lading, sale contract and the charter chain)
  • When is a time charter concluded:
    • The format of a time charter
    • How to read a time charter
    • The status of the recap and the use of standard forms
  • The owner's principal obligations:
    • Delivery of the vessel
    • Description of the vessel
    • Seaworthiness obligations
    • Allocation of risk for cargo operations
  • The charterer's principal obligations:
    • Safe port obligations
    • Shipping lawful goods
    • Allocation of risk for cargo operations
  • Key terms of a time charterparty including:
    • The vessel
    • The charter period
    • Trading limits and safe ports/berths
    • Hire and off-hire clauses
    • Speed and consumption clauses
    • Bills of Lading
    • Cargo operations and claims

This pre-recorded webinar will be streamed at 12:30pm on Thursday 9th March 2023 and will remain available to view by delegates who have registered by then for 90 days.

New: Enjoy unlimited 24/7 access to over 1399 webinars with an MBL Annual Webinar Subscription. Email webinarsubscription@mblseminars.com for details..

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Webinar | 09.03.2023

Unlimited Viewers | 1hr


An Introduction to Time Charters & Hire Clauses for Shipping Lawyers

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Mar
9
2023
1hr
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