voyage charter

Vessel Chartering, Vessel Charters, Voyage Charter.

by shippingeworld on Mar 18, 2010

VesselChartering usually falls into three categories, each distinguished bythe degree of operational control over the vessel which the chartererexercises. There are three basic types ofvessel charters: voyage charter, time charter and bareboat charter. In each case, the contract between the shipper (or charterer) and theship-owner is called the "charter party." When anorganization ships goods on a vessel operated by a common carrier,the open cargo policy may be the only ocean marine policy theorganization needs. In a voyage charter, the vessel is chartered fora one-way voyage (or a series of consecutive voyages) betweenspecified ports at a negotiated freight rate. The charterer agrees tohave the cargo available for loading at the place and time agreed,and the ship-owner agrees to have the vessel available for loading atthe same place and time. Abareboat charter (or demise charter) is very different from a voyageor time charter. Under a bareboat charter,...Read More >>