A charter party means a contract by which a ship or a principal part of it, is lead by the owner especially to a merchant for the conveyance of goods on a predetermined voyage to one or more places, a special contract between the ship owner and charters, especially for the carriage of goods etc. The charterer takes over the vessel for either a certain amount of time (a time charter) or for a certain point-to-point voyage (a voyage charter), giving rise to these two main types of charter agreement. There is a subtype of time charter called the demise or bareboat charter. In a time charter, the vessel is hired for a specific amount of time. The owner still manages the vessel but the charterer gives orders for the employment of the vessel, and may sub-charter the vessel on a time charter or voyage charter basis. The demise or bareboat charter is a subtype of time charter in which the charterer takes responsibility for the crewing and maintenance of the ship during the time of the charter, assuming the legal responsibilities of the owner and is known as a disponent owner. In a voyage charter, the charterer hires the vessel for a single voyage, and the vessel’s owner (or disponent owner) provides the master, crew, bunkers and supplies.