A shipment or a period of employment
A voyage charter generally concerns moving an agreed cargo on an agreed voyage. A time charter generally concerns using a vessel for an agreed period or trip, within the limits of the charter party. The appropriate structure depends on the requirement and the allocation of responsibilities the parties agree.
Compare the complete terms
A headline freight rate and a daily hire rate are different commercial measures. The comparison needs to consider the voyage, duration, port arrangements, fuel and other costs allocated by the proposed terms. Different charter parties can allocate these responsibilities differently.
Explain the operational need
For a single shipment, provide the cargo, ports and dates. For a period or trip requirement, explain the intended trade, duration, delivery and redelivery areas and any restrictions. This gives the chartering desk a useful starting point for approaching suitable counterparties.
Agree the detail before fixture
An introduction is not a substitute for reviewing the proposed charter party. Parties should confirm the vessel, trading limits, responsibilities and complete commercial terms before a fixture is concluded.
