Maritime Law in Relation to Time Charter Hire Essay

Maritime Law in Relation to Time Charter Hire - Essay Example This is followed by definition of maritime law and providing a brief explanation to help understand the concept at hand. After looking at maritime law, the context then analyzes the two statements, identifying the best statement that suites maritime law as far as Time Charter Hire is concerned. The statements are: â€Å"I have come to the conclusion that hire must be treated in the same way as freight, and that to do so is not an extension of the established exception. It is only in comparatively modern times that the word ‘hire’ has been used. It was formerly known as ‘time freight’ or ‘time-chartered freight’. Indeed, in marine insurance terminology, ‘freight’ still includes ‘hire’.†Ã‚  (The Satya Kamal [1975] 2 Lloyd's Rep 188, per Donaldson J.) â€Å"‘Freight' is payable for carrying a quantity of cargo from one place to another. 'Hire' is payable for the right to use a vessel for a specified period of time, irrespective of whether the charterer chooses to use it for carrying cargo or lays it up, out of use. Every time charter contains clauses which are quite inappropriate to a voyage charter, such as the off-hire clause and the withdrawal clause. So different are the two concepts that I do not think the law as to 'freight' can be applied indiscriminately to 'hire.' (Lord Denning MR in The Nanfri [1978] QB 927.) Relationship between Maritime Law and Time Charter Hire Maritime law is a body of laws, treaties and conventions that presides over international confidential business or other matters engrossing ships, shipping or offenses taking place on open water2. Laws between countries controlling things like national versus international waters are regarded as public international law and are well identified as the Law of the Seas. Through these waters is where the business of time charter hire occurs where an individual can hire a vessel and use to transport cargos from one specif ic port to another. Maritime law, which is also termed as admiralty law, is one of the most developed and oldest types of law. It covers all the laws that rules over contract, tort, ships, marine business, shipping, and employee recompense assertions that take place on the navigable waters of the world. The law is helpful in determining the amount of freight to be issued to the vessel owner when used by a voyage charterer. Subjects of maritime law can encompass towage, salvage, maritime liens, marinas, maritime contracts, and maritime damages. This means that both voyage charter and time charter are covered by these law thus, enhancing contracts made between charterers and owners. Despite the fact that the subjects under the umbrella of maritime laws are many, there are numerous of them that are pretty interesting. For instance, there are rules that preside over what takes place when an individual finds property that had lost. Under international rules, if possession is lost on the water and found by another individual, the finder can assert a salvage present for recovered possession. As a result, if a ship is destructed and loses cargo during an awful ocean storm, the retriever can ask the shipping company to disburse them money for any of the cargo they recover. Note that this takes place after the vessel owner and the charterer have settled the issue of freight or hire. Therefore, if the vessel gets involved in lose of possession, the owner is not involved at all. The case now remains between the charterer and the retriever. In most cases, the salvage