Types of bulk charters

Voyage charter: The charterer hires the ship for a specific voyage, from one port to another. The shipowner bears the risk of the voyage, including fuel costs and port charges.

Time charter: The charterer hires the ship for a specified period of time, typically measured in days or months. The charterer is responsible for operating the ship and paying fuel costs and port charges.

Trip charter: A combination of voyage and time charters, where the charterer hires the ship for a specific voyage but also has the option to extend the charter for additional voyages within a certain period.