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Part VII Charterparties, 34 Time Charterparties

From: Carriage of Goods by Sea (3rd Edition)

Stephen Girvin

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 04 July 2022

Subject(s):
Charter parties

This chapter studies time charterparties, which are sometimes described as ‘freighted by the month’ or as a ‘charter-party of affreightment’ or ‘let to freight by the month’. The phrase ‘time charter’ appears to have been used in about 1840 and by 1849 it was said with confidence that it was ‘the usual practice, upon the hire of ships on time charters, for the charterers to pay instalments during the voyage’. The Baltime form, the Baltic and White Sea Conference Uniform Time-Charter (later the Baltic and International Maritime Conference Uniform Time Charter), was first issued in 1909 and has become one of the most used general time charterparty forms. That form has, however, been surpassed in popularity by the NYPE form, the New York Produce Exchange Time Charter, first issued in 1913 which is, in every respect, the leading dry cargo general form. Three iterations of the form are still used, namely NYPE 1946, NYPE 93, and NYPE 2015. Besides these forms, there are many time charterparty forms for particular trades.

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