Bareboat chartering possible to address lack of vessel spaces

Dr. Enrico Basilio, Chairman of the Export Development Council’s Networking Committee on Transport and Logistics (EDC-NCTL), called for support for bareboat chartering by the Filipino Shipowners Association (FSA) to address the issue of lack of vessel spaces.

Bareboat chartering is defined as leasing an entire vessel under an agreement whereby the lessor only provides the bare vessel. The vessel’s operation is not included in the lease; hence the charterer must arrange for the staffing of the Ship’s Captain and its crew.

Dr. Basilio added that FSA may charter ships staffed with Filipino seafarers that can be operated under a Philippine flag. This would potentially aid those seafarers that were laid off due to the pandemic.

Exporters, not only in the Philippines but worldwide, have been in distress because of the soaring freight rates and the difficulties in securing vessel spaces. Unfortunately, outlooks have been saying that this will not get better any sooner.

Such global problems call for global solutions, and the whole-of-nation approach has to be stronger than ever to come up with pragmatic solutions. KJDA

See full story:  PH exporters seek “very urgent” help as supply chain constraints cause growing delays, losses 

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