Voyage Charter

Charter party in which the shipowner places the vessel at the charterer's disposal for one specified voyage between named load and discharge ports at an agreed freight rate per ton or lump sum. The owner provides crew, insurance, fuel, port charges, and operates the vessel; the charterer's risk is in laytime, demurrage, and (in some forms) cargo handling. BIMCO GENCON 2022 is the most widely used dry-cargo voyage form, and tanker trades use Shellvoy, BPVoy, Asbatankvoy and similar. Voyage charters are the standard form for spot-market employment in dry bulk and tanker shipping.