A charter party agreement in which the shipowner provides a manned and equipped vessel to the charterer for a specified period. The charterer directs the commercial operations and pays for fuel, port charges, and cargo handling, while the owner covers crew, maintenance, and insurance costs.
Also known as: T/C.
Category: Cargo & Trade
On The Maritime
The desks where this concept is measured.
In the Glossary
Time CharterT/C
A contract to hire a fully crewed ship for a period at a daily rate, with the charterer directing employment and paying voyage costs.
Read the full explanation in the GlossaryRelated terms
More in Cargo & Trade
Letter of CreditA financial instrument issued by a bank on behalf of a buyer guaranteeing payment to the seller upon presentation of specified shipping documents, including the bill of lading.ManifestA comprehensive document listing all cargo carried on a vessel for a particular voyage, including descriptions, quantities, weights, shippers, and consignees.Spot RateThe current market price for chartering a vessel or shipping cargo for immediate or near-term loading, as opposed to long-term contract rates.Stowage FactorThe volume in cubic metres or cubic feet occupied by one metric tonne of a particular cargo when stowed in a vessel's hold.SupercargoA person employed by the cargo owner or charterer to travel on a vessel and oversee the loading, stowage, care, and discharge of the cargo.TEUTwenty-foot Equivalent Unit, a standard measure of container ship capacity based on the dimensions of a standard 20-foot intermodal container (approximately 6.1 metres long, 2.44 metres wide, and 2.59 metres high).
Back to DictionaryEntry updated May 2026