Owner's account

Owner’s account items are the costs a charter party allocates to the shipowner rather than the charterer, the mirror of charterer’s-account items. Under a time charter the owner carries crew wages and victualling, stores, lubricating oils, hull and machinery insurance, maintenance, and class, while the charterer pays bunkers, port charges, and canal dues. The allocation is set by the charter form (NYPE, BALTIME) and appears in the hire statement when an item paid by one party is for the other’s account and must be reimbursed. Misallocated disbursements are a common hire-statement dispute.