Voyage Charter

A voyage charter sells the carriage of a cargo between named ports for a freight, with the owner keeping the ship’s operating costs and the commercial risk of the voyage. Its defining mechanics are laytime, the time allowed free for loading and discharging, and demurrage, the agreed daily rate the charterer pays once laytime is exceeded. GENCON is the general dry-cargo form; the allocation of loading and discharging costs (FIO, FIOST) and the owner’s lien on cargo are the clauses that most affect who bears delay and expense.