Abstract
Shipowners invest in high-value assets, mainly for purposes of hiring the ships or space on the ships as their main source of earning and profit. For this reason, shipping companies develop and maintain effective commercial and chartering operations. The aim of this chapter is to provide a general overview of the charter markets, chartering practice and post-fixture operations. Content includes the procedures and practices in voyage estimating, chartering of merchant ships under various forms of chartering and the calculation of financial (freight, deadfreight and hire) performance. Post-fixture operations consist of instructions to the vessels, coordination and follow-up between the master, shipowner and agents in respect of loading, discharging and bunkering operations. Finally, the chapter provides an explanation of basic principles in the calculation of laytime and demurrage.
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Notes
- 1.
Worldscale: New Worldwide Tanker Nominal Freight Scale.
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Assimenos, N. (2017). Commercial Operations Management. In: Visvikis, I., Panayides, P. (eds) Shipping Operations Management. WMU Studies in Maritime Affairs, vol 4. Springer, Cham. https://doi.org/10.1007/978-3-319-62365-8_3
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