Chartering Terms
Core charter-party vocabulary used when negotiating and executing fixtures.
Overview
Core contract types
Time charter allocates operating costs differently than voyage charter. Understanding cost responsibility is critical when comparing economics.
Key Terms
Time Charter
Owner provides vessel and crew; charterer typically covers bunkers and port costs.
Voyage Charter
Charter for a specific voyage where owner handles voyage costs.
Laycan
Laydays/cancelling window in which vessel must present for loading.
Demurrage
Compensation when operations exceed agreed laytime.
Despatch
Bonus when operations complete faster than agreed laytime.
Related pages
Try ShipSense on a real fixture line
Paste a shipping email line or use one of our Singapore-market examples to see how ShipSense converts unstructured text into structured vessel, cargo, route and rate data.
Quick examples
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MV PACIFIC STAR / 58kdwt / del Singapore prompt / redely N China / 50k mt coal / $13,500 pd
MT ASIA ENERGY / 105kdwt / del AGulf / redely Singapore / cpp / ws 120
MV STRAITS VOYAGER / 63kdwt / del Singapore-Jakarta range / redely Vietnam / 55k mt grains / $14,200 pd