The choice of a suitable time representation plays a major role in designing a computationally efficient planning/scheduling framework. For the time representation to be effective, it needs to capture the nuances of the actual process, while ensuring that the resultant model is tractable and computationally efficient. In this paper, a novel time representation scheme, titled hybrid time discretization, which combines both continuous- and discrete-time representations in a single framework, is proposed and used to solve a complex multiproduct maritime inventory routing problem (MIRP) with undedicated compartments. Several continuous- and discrete-time-based frameworks have been proposed to solve the MIRP over the years. While single-/multigrid discretized frameworks do efficiently capture the time-sensitive nuances of the problem (such as active/inactive jetty hours and hourly/daily variations in the demands), they struggle to solve larger problem instances to the required optimality gap in a reasonable time. This is primarily due to the large disparities among the timings of different task components in the model. On the other hand, continuous-time representation can significantly reduce the problem size and computational effort; however, modeling the entire problem using the continuous-time-based framework could have problems in representing some time-sensitive intricacies in the demands and jetty/port activities. To allay the above-mentioned drawbacks, in this paper, a novel hybrid time representation is proposed, which combines a continuous-time representation with a multigrid discrete-time framework. The proposed novel framework is cast in a rolling horizon strategy and tested on various scenarios generated for the above-mentioned maritime transportation problem, which are shown to be significantly more complex than those presented in the literature. The proposed MILP framework is able to solve most of the test cases to the required optimality in a reasonable time without the need for heuristic or meta-heuristic assists. The proposed hybrid time representation could find significant utility in other lateral applications such as batch scheduling and inventory routing problems.