Maximising Returns in Tanker Chartering: Strategies for Owners and Charterers
The competitive world of tanker chartering, whereby both owners and charterers have been performing with a view to maximizing returns by weaving through the complex dynamics that characterize the shipping business, involves leasing a tanker for transporting liquid cargo such as crude oil, chemicals, or petroleum products. Given the volatility in the global shipping markets, the need for effective strategies cannot be overemphasized by both owners and charterers in terms of maximizing returns and minimizing risks. Be it a short-term charter or a long-term contract, success depends on an understanding of those very key factors that drive profitability. In this blog, we examine various ways of maximizing returns in Tanker Chartering in the UAE . 1. Types of Tanker Charters Before exploring the strategies, it is necessary to put into context the range of tanker charter options open to both owner and charterer. The two primary charter types are time charter and voyage charter. Time