what is the meaning Bareboat Charter in maritime law and international law

The hiring or leasing of a ship for a period of time during which the shipowner
provides only the ship while the charterer provides the crew together with all
stores and bunkers and pays all operating costs. This type of charter is favoured
by persons or companies who wish to own a ship for investment purposes but
who do not have the desire or expertise to operate the ship. Similarly, it is
favoured by persons or companies who have a particular requirement for a
ship and the expertise with which to operate one but without the wish or
ability to purchase. Typical of this category are shipping lines who may wish
to take a ship on for a period of many years but who do not wish to make a
large capital investment by buying one.

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