Under both demise and time charters, the charterer pays charter hire for the use of the vessel at a specified daily or monthly rate.
Whereas on a voyage charter the owner bears all the expenses of the voyage (subject to agreement about costs of loading and discharging), on time charter the charterer bears the cost of bunkers and stores consumed.
On time charter, the charterer hires the ship for a stated period of time, for a specified round-trip voyage, or, occasionally, for a stated one-way voyage, the rate of hire being expressed in terms of so much per ton deadweight per month.
In a voyage charter the charterer rents the vessel from the loading port to the discharge port.
In a bareboat charter the charterer acts as the ship's operator and manager, taking on responsibilities such as providing the crew and maintaining the vessel.
The Conners Marine Co., Inc., was the owner of the barge, which the Pennsylvania Railroad Company had chartered; the Grace Line, Inc., was the charterer of the tug, "Carroll," of which the Carroll Towing Co., Inc., was the owner.
The charterer on the other side doesn't charter the ship for long enough a period to make low-carbon technologies pay back".
On March 23 , 1967the parties entered into a contract of voyage charter in New York City which provided that the charterer would hire the owner's tank vessel, WASHINGTON TRADER, for a voyage with a full cargo of lube oil from Beaumont/Smiths Bluff, Texas to Bombay, India.
The owner billed $131,978.44 as extra compensation which the charterer has refused to pay. of the voyage charter and that the supervening destruction of this means rendered the contract legally impossible to perform and therefore discharged the owner's unperformed obligation (Restatement of Contracts § 460 (1932)).
Under a voyage charter, it is customary for the master or his agent to issue a bill of lading to the shipper, who is usually the charterer, although as between shipowner and charterer the voyage charter remains the governing contract of carriage; the bill of lading serves only as a receipt and as a document of title to the goods.
