Demise Charter
Contract whereby the shipowner leases its vessel to the charterer for a period of time during which the whole use and management of the vessel passes to the charterer. This involves the charterer paying all expenses for the operation and maintenance of the vessel. Officers and crew become servants of the charterer. A demise charter whereby the charterer has the right to place its own master and crew on board of the vessel is also called "bareboat charter".
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