Shipowner

How it is used

In contracts usually 'the Owners', in the plural, even for a single company. The shipowner employs the crew directly or through a manager, insures the ship and is responsible for its seaworthiness. Day-to-day ship management may be done by a separate company.

Example sentences

1. The shipowner ordered two new bulk carriers from a yard in China.

2. The shipowner has instructed the master to sail at economical speed.

Common collocations

• shipowner and charterer
• shipowners' association
• on behalf of the shipowner
• the Owners

Related terms

• chartererThe person or company that hires a ship from the shipowner under a charter party, either to carry its own cargo or to trade the ship.
• charter partyThe contract between a shipowner and a charterer for hiring a ship, either for a voyage or for a period of time. It sets out the freight or hire, the cargo, the ports and the laytime.
• flag stateThe country in which a ship is registered and whose flag it flies. Its laws apply on board, and it issues the ship's statutory certificates or authorises others to issue them.
• masterThe officer in overall command of a merchant ship, legally responsible for the safety of the ship, crew, passengers and cargo. In everyday speech the master is called the captain.

More terms: Chartering & Shipping Documents

• bill of lading
• freight
• demurrage
• laytime
• notice of readiness