What type of charter allows a charter party to use a vessel for a specified period of time?

A time charter allows a charter party to utilize a vessel for a specified period. Under a time charter agreement, the shipowner provides the vessel, and the charterer pays for the use of the ship for an agreed duration, which could range from a few days to several months or even years. The charterer is responsible for operating the vessel, including managing the crew and deciding the vessel's trading routes, while still retaining the flexibility to use the ship as needed within the terms of the contract.

In contrast, other types of charters, such as a voyage charter, provide the vessel for a specific voyage from point A to point B instead of an extended period. A term charter generally describes agreements similar to a time charter but usually emphasizes the duration aspect more than the operational one. A freight charter isn't a standard term used in chartering practices and doesn't correspond to a widely recognized vessel chartering type. Therefore, the time charter is the most accurate answer in this context.