demise charter

In this case, a demise charter is a form of hire-purchase from the owners, who may well have been the shipbuilders.

(In the context of the leisure industry, the term "demise charter" will rarely be heard.

There are no standardized forms in a demise charter, contracts can vary greatly, and are written up to meet the needs of the charterer.

The giving up of possession of the ship by the owner is the defining characteristic of a bareboat or demise charter.

Demise Charter: The demise charter is the least used in the tramp trade because it heavily favors the owner.

A bareboat charter or demise charter is an arrangement for the hiring of a vessel whereby no administration or technical maintenance is included as part of the agreement.

In a bare-boat or demise charter, on the other hand, the owner gives possession of the ship to the charterer and the charterer hires its own master and crew.

A demise charter is a form of bareboat charter in which the charter period may last for many years; and may end with the charterer acquiring title (ownership) of the ship.