ASBATANKVOY
Meaning
ASBATANKVOY is the most widely used standard voyage charter party form for tankers, published by the Association of Ship Brokers & Agents (USA).
ASBATANKVOY explained
Many spot tanker fixtures are concluded on ASBATANKVOY terms with the charterer's riders. The form covers the basics of a tanker voyage, including laytime, demurrage, notice of readiness, freight and pumping, and is so familiar that recaps often only list the deviations from it.
Oil majors frequently use their own forms instead, such as Shellvoy or BPVOY, which are generally regarded as more detailed and more charterer-protective.
Related terms
Charter party
A charter party is the contract between shipowner and charterer for the hire of a ship, usually a standard form amended by riders and the fixture recap.
Shellvoy
Shellvoy is Shell's standard tanker voyage charter party form, widely used beyond Shell and generally seen as more detailed than ASBATANKVOY.
BPVOY
BPVOY is BP's standard tanker voyage charter party form, used for BP's own fixtures and by some other charterers.
Voyage charter
A voyage charter is a contract to carry a cargo between named ports for a freight payment, with the owner running the ship and paying its costs.