Answer
There are three main types of charter parties:
Voyage Charter: The shipowner hires out the vessel for a specific voyage (e.g., carrying coal from Newcastle to Paradip). Owner pays all operating and voyage costs (bunkers, port dues).
Time Charter: The vessel is hired for a specific period. The owner provides the crew and maintains the ship; the charterer directs the commercial operations and pays for bunkers and port dues.
Bareboat Charter (BBC) / Demise Charter: The charterer takes complete control of the vessel, essentially acting as the "disponent owner."
Shipowner's Responsibilities in a Bareboat Charter: In a BBC, the shipowner's responsibilities are absolute minimums:
Capital Costs: Paying the mortgage/financing of the vessel.
Delivery: Handing over the vessel in a completely seaworthy condition at the commencement of the charter.
Latent Defects: The owner remains liable for latent (hidden) defects present before the charter began.
Insurance (Sometimes): While the charterer usually handles P&I (Protection & Indemnity), Hull & Machinery (H&M) insurance is sometimes maintained by the actual owner to protect their capital asset, depending on the contract terms.