Voyage Chartering

With a voyage or ‘spot’ charterparty, the ship is employed on a single voyage, i.e. from a certain load port or ports to a discharge port or ports in an agreed area. The shipowner is responsible for all the expenses of running the ship and also the additional voyage expenses, such as port charges and bunkers, apart from the cargo-handling costs, which in dry bulk trades are usually paid for by the charterer. There are, however, clauses in some of the charter parties regarding overtime costs when loading or discharging the cargo, including who should benefit from overtime pay, the crew are the responsibility of the owners, whilst the charterers are responsible for paying the stevedores, at least as regards the charterparty contract. With tankers, the problem of cost does not really arise because the shore pumps the cargo into the ship and, therefore, the costs are effectively paid by the shipper. The ship uses her own pumps to discharge the cargo, which is therefore a cost for the shipowner.