Basically, ship chartering is nothing other than renting or leasing, although the latter terms are not commonly used in this area. Aircraft are also chartered, which is why the term “charter flights” is often used in everyday language.
Ship charters or ship chartering can be carried out in different ways. The simplest approach is known as “bareboat charter” and means the provision of the pure vessel, whereby the charterer must also act as ship owner. In other words, the charterer has to provide the crew as well as take care of all maintenance and repairs and, of course, provide sufficient fuel.