A lease of a vessel or other equipment without a crew or operator.
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What does Dry Lease mean?
A dry lease is a type of leasing agreement in which a shipping company leases a vessel or aircraft without crew, fuel, or other provisions. Unlike a wet lease, which includes a crew and all necessary supplies, a dry lease provides the shipping company with only the basic vessel or aircraft, which they must then operate themselves. This type of lease is common in the shipping industry for vessels such as cargo ships, tankers, and container ships.
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