Voyage charter its a modality of chartering that consists in the transport coordination of a specific cargo, from Port A to Port B, with a fixed price per ton. The capital costs, operational costs, and travel costs are borne by the shipowner.
Considering the risk and the opportunity cost, loading and unloading maneuvers must be agreed between the parties in the charter party contract. Being in most cases in charge of the charterer or cargo owner. In this sense, there are specific terms, Free In (F.I), Fre Out (F.O.) and Free In & Out (F.I.O.) where the cargo owner must assume the responsibility, costs and risks of the loading maneuver F.I and download F.O.
In case of delays due to liability of the cargo owner, compensation will be paid to the shipowner called “Demurrage” and in case of performing the maneuvers before the time stipulated in the “Lay Time” – time agreed for the execution of the maneuver from the notice of readiness of the ship at loading port – Compensation will be paid to the owner of the cargo called “Dispatch”.