It is a contract that combines some aspects of time and voyage charters such as;
trip charters; contracts in which charterers pay for the time it takes for a ship to complete a voyage i.e. a round Port Suez voyage, or
consecutive voyage charters i.e. 3 consecutive voyages between Ports A & B.
slot charter or “space sharing agreement”, this is common amongst pool operators in container trade.
Charterparty agreement is like any other commercial contract with express and implied terms; conditions, warranties and innominate terms. Charterparty problem areas for voyage and time charters are listed below, some of which are exclusive to either time or voyage charters and stem from breach of rights and obligations of contracting parties;
seaworthiness/due deligence, vessel failing to arrive within the date stipulated in cancelling clause, seaworthiness, causation, right of lien, employment instruction, dangerous goods, safe port/berth, notice of readiness, laytime and demurrage, off-hire/delay/redelivery, cargo damage, loading and discharging rates, improper stowage, deviations/diversion, clause paramount, speed/fuel consumption, bunker quality, off-hire, underlap/overlap, last voyage, frustration, slow steaming, employment instructions, remedies for non-payment of hire, final accounts, final voyage order, cargo retention/ROB clauses, non-payment of hire/dues, etc.
With our in house legal and technical know-how, we can offer our services at an early stage with review of charterparty contracts prior to any agreement or prepare the contracts and/or provide advice for any issue in connection with the contract and represent cargo interest, owners or charterers in any arbitration.