bareboat charter


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bareboat charter

[′ber‚bōt ‚chärd·ər]
(industrial engineering)
An agreement to charter a ship without its crew or stores; the fee for its use for a predetermined period of time is based on the price per ton of cargo handled.
References in periodicals archive ?
* The Moorings (www.moorings.com) provides bareboat charters in 26 locations in the Caribbean, Mediterranean and the South Pacific.
A bareboat charter in the Whitsundays offers breathtaking beauty.
McDermott will pay for the modification project primarily through an increased bareboat charter rate over an extended 12 year term once the modifications are complete.
The ship is currently on bareboat charter from Oslo-listed shipowner Ship Finance International Ltd (NYSE: SFL) (NOTC: SFLF) with purchase option, and Golden Ocean has agreed to buy the vessel for USD21.5m.
Overseas Shipholding announced that it has entered into a Bareboat Charter Party Agreement with the owner of the vessel known as the Oregon Voyager.
The LPG carrier will have a bareboat charter of seven years to a leading gas shipping operator.
Petroleum shipping company Dorian LPG Ltd (NYSE:LPG) reported on Wednesday the launch of a USD70.0m sale and bareboat charter arrangement for the Corvette, Japan (Corvette Japanese Financing).
Two are contracted for 10 years on bareboat charter at a net daily rate of USD13,300.
As part of the transaction, the company will sell a 2016 Japanese built Ultramax dry bulk vessel, SBI Hermes, for a consideration of $20.5M and then lease it back from the buyer through a five-year bareboat charter agreement at a rate of $5,850 per day.
Cash at hand exceeding a certain level will through a cash sweep mechanism will be distributed as repayment of the bank facilities and the bareboat charter in respect of the vessel Odin Viking will be amended to reflect that the charter hire of USD10,000 per day will not be payable in cash, but added to the principal amount outstanding under the charter party as payment in kind.