Answer
A- Time charter is a type of charter where the technical management of the ship still remains in the hands of
the shipowner.
Charterers provide:
- Voyage instructions and port rotations
- Port Dues
- Bunker (Rest everything in the hands of the owner)
2nd hand ship under Time charter – Challenges
- Voyage speed, Engine performance, Fuel consumption. Time charter is particular on vessel speed and fuel
consumption. Old ship may have challenges with engine performance, speed capability, fuel consumption, and hull condition.
- Machinery maintenance and repair - Old ship will have more frequent repair/maintenance.
- Spare part connecting - Time charter ports are not known, planning of maintenance and connecting of
spares is a challenge.
With these in mind, C/E actions:
- Proper vetting of the ship by owner before the charter On-hire survey - check ROBs of Bunker tanks as
accurately as possible. Condition of cargo gear, cargo tanks, and associated equipment - See what maintenance/repair is required, any known issues, any modifications to be made.
- Engine performance reports, Speed power curves of the ship - check what is the requirement of the
charter party - if ship able to meet them.
- Old ship - more maintenance, known recurring troubles with any equipment, need to order extra spares
as it would be difficult to connect the spares later.
- Statutory certificates are in order.
- Safe manning is complying with the charterer’s requirements if any - Some charters have minimum
experience requirement for top 4. If any extra hands required onboard then need to amend the SMD by informing the company.
- ME/AE/BLR consumptions accurately measurable. Check flowmeters, tank gauges, remote gauges,
sounding tapes and tables properly calibrated. As least errors and Deviations as possible.
- All equipment maintained well - all due jobs under PMS completed in advance.
- Deck equipment - Mooring/Anchor windlass, cargo gear, pipelines, cargo tanks, IG systems, Bow
thrusters if any - checked for thorough operations and any faults/rectification immediately attended to.