Voyage Charter

A Voyage Charter is a maritime contract between a shipowner (or charterer) and a cargo owner, specifying the terms and conditions for hiring a vessel for a particular voyage. A voyage charter agreement outlines details such as freight rates, cargo quantities, loading and discharge ports, laytime, and demurrage, providing a framework for transporting goods by sea.

A voyage charter agreement defines the responsibilities and obligations of both parties involved, including the shipowner's commitment to transport the specified cargo and the charterer's agreement to pay the agreed-upon freight rates.

Key elements of a Voyage Charter include:

• Freight Rates: The amount agreed upon for the transportation of the cargo, usually calculated based on the quantity of cargo or the space occupied on the vessel.
• Loading and Discharge Ports: The ports where the cargo will be loaded onto the vessel and subsequently discharged.
• Laytime: The agreed period during which the charterer is allowed to load and unload the cargo without incurring additional charges.
• Demurrage: Charges applicable if the loading or unloading takes longer than the agreed laytime.