So far we have covered what is chartering what is time chartering today lets talk about voyage chartering. The name itself is self-explanatory, hiring for a specific voyage. Suppose you have just signed off from the ship and reached your nearest airport, but your house is far from the airport and you need a ride to your house. Most major airports have taxi service where you can book a cab and get a ride to your home. So you approach one of the cab services to compare the rates for a journey to your place. You now have a cab booked and ready to get you to your home. This, in short, is a voyage chartering. Now during your ride back home, you come across a few tolls, refuel stops, and more, the cab driver includes all that to your bill. In case of a remote place, the cab driver may even charge you for the return fare as he may not get one to return back to his place. Unlike time chartering here you have control only, over the route to be taken to your place.
The Ship Owner makes a fully equipped ship available to the charterer, charterer has cargo to ship to a specific location in exchange for freight charges. In voyage chartering the shipowner, responsibilities are increased. The owner bears most of the cost for the voyage and its associated risks. The voyage charterer provides the cargo that is suitable for the ship and voyage to destinations which are safe for the ship. Charterers are responsible to load and discharge cargo in a specified time in case of failure to do so charterers have to pay demurrage (compensation). The voyage charter party clauses are in a manner that it limits the liabilities of the involved parties in the case of involvement of third parties.
There are different possibilities:
- The whole ship is put at the disposal of the charterer, for the transport of a full cargo, and this:
- for a determined voyage
- for a voyage back and forth
- for a series of determined voyages
- for a tour between various ports, with the right for the charterer to load and unload cargo.
- A part of the vessel is put at the disposal of the charterer, for the transport of a determined parcel of cargo.