FIXTURE REPORT

What is a ‚Fixture'?
To "fix" a ship is to determine or settle a contract (the Charterparty) for its employment. A "Fixture" is the successful conclusion of the negotiations between the shipowner and the charterer.

What is a Charterparty?
The word is anglicised from the Latin "Carta Partita" and is used since centuries in maritime trade as a contract where terms and conditions of cargo shipments are set down. It means a document (Carta), which has been divided (Partita) and on both halves the same text is written and undersigned. One part is placed on board of the ship, the other half is kept by the trader.

What kind of contracts/charters exist?
Timecharter
Contract of hiring a ship from an owner, including crew and equipment, for a period of time with the right, within specific limits, to decide type and quantity of cargo as well as ports of loading and discharging. The charterer pays for bunker and cargo handling operations, port charges, pilotage, towage and ship's agency.

Voyage
Contract of carriage in which the charterer pays for the use of a ship's cargo space for one, or sometimes more than one (called COA - Contract of Affreightment), voyage. All operating costs are paid by the shipowner, while payment for port and cargo handling charges are the subject of agreement between the parties.

Bareboat
The shipowner delivers possession of the vessel to the charterer, who engages master and crew, arranges for repairs and supplies, and, in general, functions in much the same way as an owner during the term of the charter

Lumpsum
Voyage charter for which a fixed amount is paid irrespective of the quantity loaded.

What is a Freight Rate?
Amount of money paid to a shipowner or shipping line for the carriage of each unit of cargo, such as a ton, a cubic meter or container load (Voyage contract) or a daily hire for the ship (Timecharter or Period contract).