The main types of charter parties are the voyage charter, the time charter and the bareboat charter, whilst some other chartering forms also may be found (e.g., COA (contract of affreightment), consecutive voyages and trip charter). Charter parties fall into categories in respect to the types of charter or cargoes carried.
What is a Consecutive Voyage Charter (CVC)?
Consecutive Voyage Charter or commonly known as CVC is a special type of a voyage charter where the vessel is contracted for several voyages which follow consecutively upon each other. It is similar to a voyage charter and shares its fundamental features such as freight, laytime, demurrage provisions and risk of delay on the owners. The main idea behind a CVC is that trading
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While the voyage element is more apparent, the charterer has the discretion and disposal of the vessel for that period of time and specific similar to a time charter.
The peculiarity arising under agreement for consecutive voyages are those of voyage charters but the time factor causes certain structural differences, for example, with respect to costs and income. Often, these contracts will contain, for example, bunker clauses or other clauses concerning cost variations.
One other peculiarity of a consecutive voyage charter is the time factor as it causes certain structural differences when it comes to costs and income. These contracts will contain bunker clauses or other clauses concerning cost
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The charterer pays the vessel owner on a per-ton or lump-sum basis. This is different as compared to time charter or bareboat charter which is based on daily hire and usually paid in advanced before using the ship and independent on the number of voyages made. One of the peculiarities of a CVC is that the freight rate varies for every voyage that is being made according to the market at that period of time and the charterer will only make payment to the owner once a particular voyage is completed and after cargo is discharged. Therefore, if vessel does not arrive in port of cargo or is lost in transit, freight will not be paid. For a CVC, there is a risk factor element for the owner as the owner will obtain lesser freight if the vessel does its voyage trip as quickly and consecutively due to weather issues or otherwise. Due to this peculiarity of this particular type of charter party, there is a tendency for the charterer to abuse it. As such, there should be an element of caution when it comes to determining rates of freight and
o Contract for building a ship isn’t maritime. o Contract for repairing ship maritime. Once the ship is launched, issues about the ship are maritime. Kossick v. United Fruit (SCOTUS, 1961): Seaman who made oral agreement with master about medical treatment has claim in admiralty – to say not maritime is too narrow.
Arundel Partners plans to pay to obtain a guarantee to the ownership of sequel rights for a set of films prior to production. It is assumed that only a small percentage of the films produced by a studio will be sequel candidates, based on the profitability of the initial film release. It is also recognized that the profitability of a sequel is typically lower than the initial release. This estimated profit will determine the proposed contract offer by Arundel Partners to the selected studio.
Discuss the issues that are of interst to TexasAgs & renegotiate some of the agreeded concessions in light of request for a new unfavourable concession. TexasAgs initiated the neogtiation proactively to get a extended contract up until 1989. The ongoing deal is only until 1987 that anways is convered bythe existing
The cash realization cycle or the cash conversion cycle (CCC) measures the capital efficiency of a company. The efficiency is measured in the number of days it takes to convert the company’s activities which require cash back into cash (Morrow, 2012, page 1). In other words, it is the time it takes to convert from paying the expenses into receiving payment from customers (Morrow, 2012, page 1). It measures the time, in days, needed to sell the inventory and collect the payment.
The North American transport system is run by several different agencies, each one having its own important part in making it all run smoothly and efficiently . There are also several policies that have been put in place to keep the transportation system working for the good of everyone. The agencies involved keep very good records of all the types of transportation that make up the system, which makes it easy for anyone to be able to see all the different statistics associated with the system. The Freight broker business is another important part of the transportation system, the following paragraphs will tell how all these things work together.
(ii) only the periods the property was held by the person acquiring the property (or any related person) shall be taken into account under subparagraph (B)(ii).
The Provision Master is facing a challenge jobs because the Provision Master must analyze the previous trips experiences, the season, and the current customer base so that enable to come out a list which can satisfy the passengers’ need. The Provision Master may need to consider where the passengers from like US based, European based or Asian based because different region passengers consume different things. The Provision Master also has to consider the number of child passengers on the cruise because they consume less than adult passengers. When the list is finalized, it is transmitted to RCCL’s procurement department, which then does an extract in the system and sends purchase requisitions to suppliers via electronic data interchange (EDI), fax or e-mail.
The other opportunity is the technological advances the company was upgrading their ships and more importantly were working on building new ones that will be ready to set sail in 2014. In addition, the technology has increased the cruise travel. Gives the technology to enhance the activities within the cruise.
In modern days misconceptions between salvage and towage, have been the spark of ignition between shipowners and tugowners, especially since their relationship became contractual.
- Economic cost: A probelm for many things, money also bars the way for moving orcha...
The freight rate is the price of the carrier that pays by the charterer or ship owner. Freight rate is compulsory and it is measures by the value of goods, point of destination and the travel distance due to land, air or ocean. Freight rate also include with the custom clearance process. It is demanded by the fluctuation of supply and demand, the bargaining power of shipper, the competitors with other logistic company and the availability or alternative of transport modes (lorry, train and ship) (The Challenges Facing The Maritime Transport Industry,
In the case of private carriage, charter parties are fixed on a Free In-Out Stowed basis which means, cargo shall be loaded and be discharged by its charterer without any risk and in the expense of the shipowner. However, the bills of lading issued by a ship under charter must comply with the terms of the Carriage of Goods Act (Clark, 1992).
The company’s current strategy is to attract more repeat cruisers and new cruisers of different segments by offering different types of packages. Such differences include choice of shorter or longer cruises, a low to moderate price for affordable cruises for middle class, and longer luxury cruises for affluent classes. As part of the company’s plan, Carnival is "going global" through a joint venture with Hyundai Merchant Marine to the Asia market.
The origins of the cruise industry can be traced to 1818 when Black Ball Line began shuttling its customers between America and Europe, taking note of the comfort of its passengers. (Boyd, n.d.) The introduction of air transportation as a more economic transport alternative forced ocean liners, which ferried people to destinations in comfort, to innovate into a new product for survival. (Boyd, n.d.)
Water transport is not flexible because it is restrained within water bodies. The use of containers has becomes the best inter-modal option for water transport whereby goods are placed in containers and transported through truck or rail to the port where it is loaded in to a container ship. Upon arrival to the destination port it is offloaded and transported again by track or rail to the consumer of customes.This helps reduce staffing needs, transit time and damages (Haulk, 1998).