Glossary term
Voyage Charter
Hiring a vessel for a specific voyage, with the owner operating it and freight paid per tonne or as a lump sum.
A charter engaging a vessel for a stated voyage between named ports. The owner crews and operates the ship and bears its running costs; the charterer pays freight, usually per tonne of cargo or as a lump sum.
Time allowed for loading and discharging is fixed as laytime, and exceeding it incurs demurrage.