Definitions for "Demise Charter"
A contract whereby the ship-owner leases his vessel to the chatterer for a period of time during which the whole use and management of the vessel passes to the chatterer, which involves that the chatterer is to pay all expenses for the operation and maintenance of the vessel. Officers and crew will become servants of the chatterer. A demise charter whereby the chatterer has the right to place his own master and crew on board of the vessel is also called 'bareboat charter'.
A lease of a vessel in which all control is relinquished by the owner to the charterer, and the charterer bears all the expenses of operation. Similar to bareboat charter.
An agreement for the hire of a vessel without crew for a period of time. The party that hires the vessel pays for all operating costs like crew, provisions, bunkers, port charges, canal charges and any other costs related to the operation of the vessel. Synonym: Bareboat Charter.