Shipowners' Lien and Maritime Lien

Shipowners’ Liens Contracts for the hire of marine vessels (charterparties) and the ensuing freight are the lifeblood of the shipping industry. Charterparties ensure that the vessel’s earning capacity is maximised, by chartering the vessel through a series of charterparties, either on a bareboat, time or voyage basis. 

Charterparties typically stipulate that in the event of default of payment by the charterer, a shipowner can recover payment of sub-hire or sub-freight due to the charterer from a third party sub-charterer down the chain. The shipowner is thereby assured of receiving payment under the charterparty. This is commonly _____ _________ _______ _______ _________ ____ ____ ___ _____.
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