Commercial Risks Arising from Chartering Vessels

Abstract

This paper constitutes a review of the most important aspects of commercial risks arising from charterparties, operations and claims issues. That means the risks allocated between the shipowner and the charterer throughout the chartering process (pre-fixture, fixture, execution of charter, post-fixture, claims handling), from a financial, operational and legal perspective. The interpretation of the above mentioned matters is considered of critical importance in chartering practice. The analysis is seen from a commercial stand point. Therefore, it is mostly addressed to the shipping practitioners, maritime economists, academics, students and researchers who seek to form a comprehensive view on the subject. It may also form a basis for further study on chartering aspects (legal, economic, managerial and practical).

The digitalisation in chartering business: special reference to the role of e-bill of lading in the bulk and liner markets

“…If required by parties in the trading chain, electronic bills can be replaced by paper bills of lading at any point. In practical terms, while the electronic bill of lading systems do eliminate the problem of cargoes arriving at discharge ports before hard copies bills of lading, their use significantly reduces the number, associated risks and costs of all methods of delivering the cargo without an original bill of lading (Plomaritou and Nikolaides 2016 ). Among the various benefits of electronic bills of lading are an increase in speed and a reduction in the cost of transactions, together with the elimination of the problem of the late arrival of documents (Wilson 2010 ).…”

Comparative Analysis Of The Contracts For Maritime Transport Services. Chain Of Charter Parties

“…The market has a high-risk profile. (Plomaritou et al 2016) As an example, a ship can be chartered for $ 20,000 a day on Monday, and on Friday the same type can be chartered for $ 30,000 a day. If we set ourselves the task not to determine the values of the variables, but why they change, we can see that the model is dynamic, because supply and demand are determined separately, and the connecting link is the freight rate negotiations.…”