Operating Expense (OPEX)

Daily operating costs include the cost of Crew, Spare Parts, Insurance.  The expenses of Drydocking and Special Survey are also operating costs. Always remember to check if daily operating expense quoted is including provision for DD/SS.

For financial analysis and modelling of ship investments, the cost of off-hire should also take into account.

For ships on time-charter, the charterer pays … Read the rest

Charterer

A person or company who hires a ship.

Charterparty

A contract between a shipowner and an owner of goods by which part or all of a ship is leased for a voyage or stated time.

Bareboat charter

Bareboat charter is an arrangement for the chartering or hiring of a ship whereby no crew or provisions are included as part of the agreement. The charterer provides crew, bunkers, and pays all operating costs.