Delivery Redelivery Ship
Ship is described in the charter as being let to the charterer, who takes delivery and in due course redelivers it back to Shipowners.
These words are misleading, since they give the impression that owners are giving up possession of the vessel to charterers. Such an impression is inaccurate.
A time charterer does not have any right of possession over the ship. The term delivery simply means that the Shipowner places the ship and her crew at the disposal of charterers to render the agreed services.
Delivery and Redelivery are accordingly used to describe when the charter period begins and ends.