A contract between a shipowner and a charterer for the hire of a vessel or part of its cargo space for a specified voyage, period of time, or on a bareboat basis. Standard charter party forms such as GENCON, NYPE, and BALTIME are widely used in the industry.
Also known as: C/P.
Category: Cargo & Trade
On The Maritime
The desks where this concept is measured.
In the Glossary
Charter PartyC/P
The contract between shipowner and charterer setting out the terms of hiring a vessel or carrying a cargo.
Read the full explanation in the GlossaryRelated terms
More in Cargo & Trade
Bill of LadingA legal document issued by a carrier or its agent to a shipper that serves as a receipt for cargo, evidence of the contract of carriage, and a document of title to the goods.Break BulkCargo that is shipped as individual pieces or packages rather than in containers, including items such as steel, lumber, project cargo, heavy machinery, and bagged goods.BunkerMarine fuel used to power a vessel's main engines and auxiliary machinery.CIFCost, Insurance and Freight, an Incoterm under which the seller delivers the goods on board the vessel and pays the cost of freight and marine insurance to the named destination port.COAContract of Affreightment, a long-term agreement between a shipper and a shipowner to transport a specified quantity of cargo over a given period, with individual shipments made on vessels nominated by the owner.ContainerizationThe system of transporting goods in standardised intermodal containers that can be efficiently transferred between ships, trucks, and rail cars without handling the cargo itself.
Back to DictionaryEntry updated May 2026