Voyage Chartering is a complex business. The ship owners promise to make theship and the crew available to the charterers to carry an agreed cargo on an agreedvoyage in exchange for the payment of freight. The ship owners remain responsiblefor the execution of the agreed voyage and therefore bear most of the operationalrisks that are associated with such performance. The ship owners also promise toenter into a number of separate contracts (bill of lading) with different parties(shippers, consignees…etc.) at the request of the charterers and agree to act ascarriers under such contracts, thereby agreeing to be responsible for theperformance of such contracts. The contracts also include several incoterms. Critically distinguish the responsibilities between a Voyage Charter Party anda Time Charter party.
Voyage Chartering is a complex business. The ship owners promise to make the
ship and the crew available to the charterers to carry an agreed cargo on an agreed
voyage in exchange for the payment of freight. The ship owners remain responsible
for the execution of the agreed voyage and therefore bear most of the operational
risks that are associated with such performance. The ship owners also promise to
enter into a number of separate contracts (bill of lading) with different parties
(shippers, consignees…etc.) at the request of the charterers and agree to act as
carriers under such contracts, thereby agreeing to be responsible for the
performance of such contracts. The contracts also include several incoterms.
Critically distinguish the responsibilities between a Voyage Charter Party and
a Time Charter party.
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