In its simplest form, a bareboat charter arises when the Owner leases his or her vessel out to the Charterer for a fixed period of time. Once the Charterer takes position of the vessel, the Charterer becomes entirely responsible for the vessel.

What is the purpose of bareboat charter?

Bareboat Charter — an agreement between a ship owner and a charterer (an individual or company chartering a vessel) that essentially gives the charterer complete responsibility for the vessel and its operation over the course of the charter.

What are the main features of a bareboat charter?

Basically the vessel owners put the vessel, without crew, at the complete disposal of charterers and pay her capital costs, but (usually) no other costs. Charterers have commercial and technical responsibility for the vessel, and pay all costs except capital costs.