Long-term leasing of vessels and ships typically refers to arrangements that extend over a significant period, often several years. These leases are often structured to provide both the shipowner and the charterer with stable, predictable terms and conditions over the duration of the contract. A long-term time charter involves leasing a vessel for an extended period, with the shipowner providing the vessel with a crew, while the charterer is responsible for operational costs like fuel, port charges, and cargo handling. The shipowner handles the capital costs, including ship maintenance and crew wages, while the charterer uses the vessel for their specific needs, such as transporting goods. These contracts can last several months to several years, depending on the agreement. Time charters allow the charterer flexibility in choosing routes and cargo, within the terms of the charter party agreement. Ideal for companies needing consistent access to shipping capacity over a long period without the responsibilities of owning a vessel.