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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 and (for commercial shipping) obtaining insurance, usually for a ...
In commercial demise chartering, a subtype of bareboat chartering, the charter period may last for many years and may end with the charterer acquiring title (ownership) of the ship. In that case, a demise charter is a form of hire-purchase from the owners, who may well have been the shipbuilders. Demise chartering is common for tankers and bulk ...
In a voyage charter, the route is pre-arranged and the charterer has little scope to interfere with the programme. By contrast, the time charter is almost a halfway-house between a demise charter and a voyage charter, in that the charterer decides on the voyages and the ports, and instructs the shipowner's crew to comply.
The demise charter is the least used in the tramp trade. [1] The ship owner only provides a ship devoid of any crew, stores, or fuel. It is the charterer's responsibility to provide everything the ship will need.
The contract under which a ship is so let may be called a charterparty—but it is not, properly speaking, a contract of affreightment, and is mentioned here only to clarify the distinction between a charter-party of this kind, which is sometimes called a demise of the ship, and a charter-party that is a contract of affreightment. [2]
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Demise is a legal term for a transfer of an estate, especially by lease. Demise may also refer to: Death, the permanent cessation of all biological functions that sustain a particular living organism; A demise charter is a form of bareboat charter in which the charter period may last for many years