CHOPT

(redirected from Charterer's Option)
AcronymDefinition
CHOPTCharterer's Option (shipping)
References in periodicals archive ?
The two other vessels are expected to be delivered during Q3 and will commence three-year charters with Maersk Line, with two consecutive one-year extensions at the charterer's option. The three vessels are expected to generate adjusted EBITDA of approximately $32M in aggregate for the median firm period, and a total of $47M if all options are exercised.
Upon delivery, the vessel will be bareboat chartered to a third party (Sealift Inc) for a firm period of four months with four further one-year option periods and a final seven month option at the Charterer's option.
The vessel will be time chartered back to the container liner company for a period of 36 to 39 months, at charterer's option, at a gross rate of $34,500 per day, for total contracted revenue of between $37.7 and $40.9 million.
Further subject to the completion of customary additional documentation and closing conditions, delivery of the 2005-built vessel is expected during the fourth quarter of 2014, which will be time chartered back to the container liner company for a period of 36 to 39 months, at charterer's option, at a gross rate of $34,500 per day, for total contracted revenue of between $37.7 and $40.9 million.
Upon delivery, the vessel will be immediately time chartered back to the container liner company for a period of 36 to 39months, at charterer's option, at a gross rate of USD 34,500 per day, for total contracted revenue of between USD 37.7 and USD 40.9m.