Time Charter

Summary of Time Charter

The charter of a vessel for a specific period of time, during which the vessel will respond to operational direction from the charterer.

(Main Author: William J. Miller)

Time Charter in International Trade

Meaning of Time Charter, according to the Dictionary of International Trade (Global Negotiator): A charter agreement providing the charterer with the use of a vessel for a stated length of time, or for one or consecutive voyages among ranges of ports.