On/off Hire Surveys
On/Off hire survey – when a ship commences a time charter it is said to be “delivered” to the Charterer.
When the use of the ship has come to an end it is said to be “redelivered” to the shipowner. Although these words are used, it is not really physical delivery and redelivery that are contemplated. Delivery means that the ship is being placed under the charterer’s control as to its employment. Redelivery means that the ship is being returned to the owner’s control.