Glossary

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Voyage chartering

Voyage chartering is a chartering agreement in which the shipowner (shipper or time-charterer or bareboat charterer) makes available to the charterer the vessel, partly or in full, fully equipped, crewed and provided with fuels, lubricant and stocks. He uses the vessel for the transport of a full or possibly part load of goods from one or more designated ports to one or more ports of destination (range of ports at the discretion of the charterer). Payment is based on the freight rate per loaded or unloaded quantity of goods, expressed in the applicable units of weight or measure. Sometimes the freight rate is fixed. In the event of voyage chartering, it is vital that the freight rate is based on the goods that are transported. Furthermore, the shipowner is the carrier of the goods. He issues the Bill of Lading. The chartering agreement can refer to a single voyage, a round trip or a number of consecutive voyages. Thus the chartering agreement is in first instance a transport agreement.

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