Hire or lease contract between the owner of a vessel
(aircraft or ship), and the hirer or lessee (charterer). Under a
charter party, a vessel is rented (in full or in part) for one or
more voyages (voyage charter) or for a fixed period (time charter).
Normally, the vessel owner retains rights of possession and control
while the charter has the right to choose the ports of call. Also
called charter agreement or charter contract, and written also as
charter party.