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CS Professional · IFSCA - Regulations, Listing and Compliances · Banking Services and Finance Companies in IFSC

A shipping group wants to take a vessel from a ship-leasing entity in GIFT IFSC, with the lessee appointing the crew, running the vessel's technical management and bearing operating costs. The lessor supplies only the empty vessel. Which structure is this?

This is a bareboat charter, also called a demise charter. The lessor provides only the empty vessel, while the lessee crews it, manages it technically and bears operating costs, unlike voyage or time charters where the owner keeps operational control.

  1. AVoyage charter
  2. BTime charter with lessor-provided crew
  3. CBareboat (demise) charterCorrect
  4. DSlot charter

Explanation

In a bareboat or demise charter, the charterer takes the vessel without crew, supplies the crew and bears operating and technical management costs. In a time or voyage charter, the owner generally keeps crewing and management. So the lessor supplying only the empty vessel points to a bareboat charter.

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