(b) Voyage charter and Time charter 

Voyage charter and time charter are two common types of contracts in the shipping industry. Both these contracts are used to hire ships, but there are significant differences between them. In this answer, we will explain the differences between voyage charter and time charter.

Voyage charter: A voyage charter is a contract where the shipowner agrees to carry a specific cargo from one port to another port. The freight rate is usually quoted per metric ton of cargo, and the shipowner is responsible for the cost of fuel, port __________ _____ ____ ___ _________ ________ _______ ____ _________ _____ _____ ________.
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