The Important Reform of Significant Clauses Within the Essential Standard Forms of the Time Charterparty

Abstract

The time charter plays a very significant role in the practical shipping field. However, the time charterparty itself has attracted little consideration by researchers working in the field. In addition, there are still many legal issues that require resolution as it is possible to easily confuse merchants, leading to further practical disputes.

This thesis explores the core characteristics of the time charter. It discusses crucial legal issues and aims to resolve potential legal disputes. It also considers key improvements to the relevant significant clauses in the current essential standard forms of the time charterparty by way of recommending revisions to clauses within various charterparties such as the BALTIME form, the NYPE 46 form, the NYPE 93 form and the GENTIME form. The original contribution of this thesis is not only the modification of vital clauses in these essential forms for merchants, but also the provision of constructive ways of reforming the remaining clauses in these forms thereby providing a potential guiding framework for the revision of other standard charterparty forms in the future.