Examples of Time Charters in a sentence
Time Charters Equivalents (“TCE”) rates are defined as voyage and time charter revenues less voyage expenses during a period divided by the number of available days during the period.
As is customary for Petrobras long period time charter contracts entered into with non-Brazilian flagged vessels, such as the Time Charters, the Time Charters contain a so-called ‘ANTAQ clause’ (ANTAQ are regulations issued by the Brazilian Water Transportation Authority) providing Petrobras with the right to terminate the Time Charter, upon 45 days notice, after the passage of 365 days, in case the vessel loses its ANTAQ license to operate in Brazilian waters.
In the highly competitive tanker industry, we may not be able to compete for charters with new entrants or established companies with greater resources, which may adversely affect our results of operations.” Time Charters A time charter is a contract for the use of a vessel for a fixed period of time at a specified daily rate.
This is in contrast with the BIMCO Piracy Clause for Time Charters that expressly applies whether or not the risk in question was known at the time of fixing.
Time Charters Time charters, including bareboat charters, give the Company a fixed and stable cash flow for a known period of time.