Charter Owners

In shipping business, trading as ship operator is a high-risk business and losses can be sustained as well as profits gained. Although many ship operators perform their undertakings perfectly well, it must be appreciated that inevitably a few operators will become bankrupt, being unable to discharge their commitments satisfactorily. This is a risk that ship operators and those trading with them have to consider and, ultimately, may have to bear. Nonetheless, ship operators nowadays form a vital element of the international dry-cargo market and are a prominent feature of international trading. Indeed some well known container liner companies are actually ship operators as they run their liner services entirely with container tonnage chartered in for the service. Ship operators who employ a ship and then re-employ (re-let) that ship for further business, charter her out in a new role, are described as Disponent or Time-Charter Owners. Disponent owner is a party deemed to be the shipowner having control of the vessel by time‑charter. Some ship operators, having secured a vessel for a period, only to find to their good fortune that freight rates increase substantially in their favor, are liable to re-let the vessel to a Charterer or to another Operator, thereby locking-in a profit for the remainder of their commitment to the original Shipowner. In ship chartering market, it is usual to see that from time to time the party acting as the shipowner may, in fact be the disponent owner such as the party who has the ship on time‑charter. Occasionally, there may be more than one link in the charter chain between the actual owner and the disponent owner involved in the immediate fixture.