Comparative Study of Voyage Charterparties in Dry and Liquid Bulk Markets

This research paper examines the contractual and legal framework of voyage charterparties in maritime commerce. A charterparty, being a legally binding agreement between shipowner and charterer, serves as a cornerstone of international shipping trade. The study presents a comprehensive clause analysis of dry and liquid voyage charterparties, including their types, content, clauses, and governing legal principles. The research begins with a review of the usual charter categories (voyage, time, bareboat, and contract of affreightment), followed by an examination of voyage charter's clauses and compares the clauses in the prevalent voyage charterparty forms, with particular focus on two industry-standard contracts: The GENCON and TANKERVOY. These charterparties, developed by the maritime organisations of BIMCO and INTERTANKO, are extensively used in dry bulk and liquid bulk cargo markets respectively. Through detailed examination of common terms and clauses of these contracts, this research makes an original contribution to maritime commercial law literature as it offers valuable insights into the contemporary chartering practices and their adaptation to modern shipping market requirements.