Trip Charter
In maritime context, a Trip Charter refers to a type of charter agreement where a ship is hired for a voyage between specified ports with a specified cargo at a negotiated rate of freight. This is a contract of affreightment, a legal term used in shipping. A trip charter is typically used for bulk cargoes, such as coal, grain, and ores. The shipowner provides the vessel and the crew, while the charterer provides the cargo. The charterer pays the shipowner on a per-ton or lump-sum basis. The shipowner pays the port costs, fuel costs and crew costs. The length of time for the charter is not fixed, as it is based on the specified voyage, not a set period. The charterer has the option to decide the ports of loading and discharge. The shipowner carries the risk of delay in the voyage due to bad weather, or other unforeseen circumstances.
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