Disponent Owner

A disponent owner is a charterer who controls a ship under a time or bareboat charter and sub-lets it to a third party, standing as owner toward that sub-charterer while remaining charterer toward the head owner. The position is purely contractual: the disponent owner has no title in the vessel, but issues the sub-charter, may sign or authorize bills of lading, and carries the chartering risk in the middle of the string. Off-hire and hire disputes often run up and down a chain of disponent owners.