Chartering routines

This chapter is concerned with a substantial subject of shipbroking and chartering practice; namely the chartering negotiations. Initially, it deals with an analytical description of chartering negotiation procedure, comprising three stages; investigation, negotiation and drawing up of the charterparty. This part is enriched with real practical examples of orders, position lists and offers illustrating the cases and the differences among the various charter types. Furthermore, the main commercial guidelines of charterparty drawing-up are discussed. Some examples of special chartering routines are mentioned, while finally, the principles of chartering negotiations are introduced as guided by the Baltic Code of Ethics and Market Practice. Throughout this chapter, great emphasis is placed on the explanation of the chartering terminology and abbreviations. As this is a value-adding tool for shipbroking and chartering practitioners, it is highly recommended this section to be read in close connection with the glossary found at the end of the book.