GlossaryEN1 min readUpdated: Jun 18, 2026

Vessel Charter Management

Vessel charter management is the complete process of sourcing, contracting, and administering ships hired from third-party owners for a defined period or voyage.

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Last updated: 18 June 2026Published: 19 June 2025

Source: https://en.wikipedia.org/wiki/Charter_(shipping)

Category

Logistics Concept

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1 min

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125

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Definition & Explanation

Vessel charter management is the complete process of sourcing, contracting, and administering ships hired from third-party owners for a defined period or voyage. A freight operator, shipowner, or broker identifies available tonnage on the charter market, negotiates hire terms—daily rate, voyage lump sum, or per-tonne freight—and settles key provisions such as bunker responsibility, laytime, and demurrage in the charter party agreement. Once the ship is on hire, the charter manager monitors vessel performance, handles off-hire disputes, and ensures compliance with relevant maritime regulations. Chartering provides operational flexibility compared to owning vessels outright, but exposes the operator to spot market rate swings and tonnage availability risk. The main charter types—time charter, voyage charter, and bareboat charter—define the distribution of costs and responsibilities between owner and charterer.