In pleasure boating, the most frequent charter arrangement is bareboat yacht charter. There are hundreds of bareboat yacht charter brokers or agent companies. There are two main kinds of charter&colon; bareboat and skippered. Belships operates other ships on bareboat or time charter. In yachting a bareboat charter is usually for a short period. A bareboat charter is in effect a financing arrangement. The ship was acquired under a ten-year bareboat charter. "President Cleveland" was operated by American President Lines under a bareboat charter. On 9 August 1943 WSA purchased the ship with the Army's bareboat charter continued. On 11 March the agreement terms were changed to bareboat charter by WSA. Instead the ship was chartered to the ATS on a bareboat basis. The US Navy bareboat chartered her through the Maritime Commission on 20 March 1942. The Navy bareboat chartered "Dickenson" on 19 May 1942 and renamed her "Kailua". The Navy Board usually hired the vessel complete with master and crew rather than bareboat. An action with respect to a bareboat ship will frequently encounter this problem.