The shipowner is the typical entity for maritime business. The shipowner earns charterage through a charter party or freight through a contract of affreightment. The bareboat charterer and the time charterer could earn charterage or freight by use of ...
The shipowner is the typical entity for maritime business. The shipowner earns charterage through a charter party or freight through a contract of affreightment. The bareboat charterer and the time charterer could earn charterage or freight by use of chartered vessel from the shipowner. These three types of ship operators can be included in the concept of maritime business entities.
When the space charterer, the voyage charterer, the freight forwarder and the operation consignee enter into a contract of affreightment with the shipper and as the result of the above opertaion they earn freight, they also can be classified under the category of the maritime business entities.
Under Article 746 of Korean Commercial Code ("KCC") the shipowner can invoke the limitation of liability against claimants. The other entities also can enjoy the above defence ((Article 750). Under Article 789-2 of the KCC business entities as a carrier can invoke package limitation against cargo interest. On the other hand, under Article 861 of KCC the claimants can file an application for ship auction to the court without a title for obligation by invoking maritime lien. This article operates only in the case that the bareboat chaterer and time chaterer are obligors. The cargo interests can be protected pursuant to Article 806 of KCC that both the shipowner are jointly and severally liable with the carrier for the negligence of the Master during the carriage of goods under the sub-charter.
The KCC does not stipulate any special regulation for the space charterers and freight forwarders.
This article deals with 7 types of maritime business entities in the perspective of protection for business entities and the third parties as well.