# Charterparty

> The contract by which a shipowner lets a vessel, or its cargo capacity, to a charterer.

## Record

- Record type: Encyclopedia entry
- Canonical page: https://admiralsatlas.com/en/chartering/charterparty/
- Last updated: 2026-08-31

## Article

A charterparty (from the Latin charta partita, a divided document) is the contract between a shipowner and a charterer for the use of a ship or its cargo space. The three main types are:

- Voyage charter — the owner agrees to carry a cargo between named ports for a freight, keeping commercial and operational control. Laytime and demurrage provisions apply.
- Time charter — the charterer hires the vessel for a period, paying hire (usually per day) and directing its employment, while the owner continues to crew and manage the ship. Fuel is for the charterer’s account.

- Bareboat (demise) charter — the charterer takes over the vessel entirely, providing crew, insurance, and maintenance; commonly used in financing structures.

Most fixtures are concluded on standard forms — GENCON for general dry cargo, NYPE for time charters, SHELLVOY and ASBATANKVOY for tankers — amended by rider clauses negotiated between the parties, usually through shipbrokers.

The charterparty governs the owner–charterer relationship; the bill of lading issued under it may create separate obligations toward cargo receivers.

## Related records

- [Bill of lading](/en/commercial-practice/bill-of-lading/index.md)
- [Demurrage](/en/chartering/demurrage/index.md)
- [Laycan](/en/chartering/laycan/index.md)
- [Laytime](/en/chartering/laytime/index.md)