Independent Chartering Advisory
A charter arrangement should protect the owner's interests while positioning the vessel to earn. Whether placing a yacht under management for charter or taking tonnage on hire, the fixture terms set the risk and return for every party. Shipwrights.com provides independent chartering advisory, structuring arrangements that serve your commercial objectives on both sides of the table.
Charter Party Structuring
Charter parties are structured under recognised BIMCO standard forms. Time charters are typically negotiated on NYPE 2015, bareboat charters on BARECON 2017, and voyage charters under GENTIME. Each clause governing hire rate, off-hire events, maintenance obligations, and redelivery conditions is reviewed to ensure the owner's or charterer's position is properly protected under the agreed terms.
Laytime, Demurrage, and Compliance
Laytime calculations, demurrage claims, and off-hire disputes are the most frequent sources of commercial disagreement in charter operations. We will prepare laytime statements in accordance with BIMCO definitions, review demurrage claims against the fixture recap, and advise on off-hire triggers including drydocking, mechanical breakdown, and crew-related delays. Each claim is documented against charter party terms and the vessel's operational log.
Commercial yacht operations are subject to flag state charter permit requirements and the applicable yacht safety code. We will coordinate with flag state administrations and classification societies to ensure that certification, safety equipment, and crewing arrangements satisfy the regulatory standard for the intended charter programme.
Our Chartering Capabilities
| Capability | Technical Scope & Standards |
|---|---|
| Fixture Negotiation | Charter party negotiation under NYPE 2015, BARECON 2017, and GENTIME standard forms. |
| Hire Rate Analysis | Market rate benchmarking, hire escalation clauses, and profit-share structures. |
| Laytime and Demurrage | Laytime statement preparation, demurrage claim review, and despatch calculations. |
| Off-Hire Management | Off-hire event documentation, mechanical breakdown periods, and drydock scheduling. |
| Yacht Charter Compliance | Flag state charter permits, yacht code certification, and regulatory coordination for commercial operations. |
Frequently Asked Questions
What standard forms are used for yacht charter agreements?
The principal standard forms are published by BIMCO. Time charters are typically structured on NYPE 2015, bareboat charters on BARECON 2017, and voyage charters on GENTIME. Each form addresses hire payment, maintenance obligations, insurance, off-hire events, and redelivery conditions. The choice of form depends on the charter type, the vessel's trading profile, and the commercial terms agreed between the parties.
What regulatory requirements apply to commercial yacht chartering?
A yacht in commercial charter must hold a valid permit from the flag state and comply with the applicable safety code. Red Ensign Group vessels follow the REG Yacht Code. Crewing certificates, safety equipment, and stability documentation are verified at annual survey. We will coordinate with the flag state and classification society to ensure the vessel's charter certification remains current.