Trip Time Charter Explained

A trip time charter is a time charter for a single trip: the ship is hired at a daily rate from delivery at the start of the trip until redelivery at its end.

How it works

The charterer pays a daily hire for the days of the trip, normally pays for fuel and port costs, and decides how the ship is used on that trip. Delivery and redelivery are agreed at named places or areas.

Why it is used

It gives the charterer control of the ship for one trip without a long commitment, and it is common when the freight market is uncertain or the charterer prefers to pay for time instead of a fixed freight.

Compared with other charters

Unlike a voyage charter the payment is for time, not per tonne. Unlike a full time charter it covers one trip, not a period. See time charter vs voyage charter.

When a trip time charter is used

A trip time charter fits a charterer who has one cargo and wants the control of a time charter for that trip, or a ship operator who prefers to be paid per day. It is common in dry bulk, where the voyage length is uncertain, for example because of port waiting times. The hire is a daily rate for the days from delivery to redelivery.

Delivery, redelivery and fuel

The ship is delivered at the start port, at an agreed time, and redelivered at the end port after the cargo is discharged. The fuel on board is counted at delivery and at redelivery and paid for at the agreed prices. The charterer pays the port costs and the fuel for the trip. Read time charter for the general rules and time charter vs voyage charter for the comparison.

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