Disponent Ship Owner is the person who controls the ship and charters the ship out to new charterers. Disponent Ship Owner is the owner for the purposes of that second charter-party. Person who controls the cargo and charters in a ship is the charterer.
Regardless of the number of times the ship is subsequently re-let in a charter-party chain, maintenance of the ship and payment of the crew remain the responsibility of the ship’s Head Owner under both voyage and time charters. For example, when a steel factory charters a ship and then re-lets the ship, that steel factory will become the Disponent Ship Owners for the re-letting the ship with second charter party, even though their basic trade is as a steel factory.