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1 2025

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A Comparative Analysis of Voyage Charter Parties and Liner Bills of Lading in Maritime Trade

Dimitrakiev D.Y., Kostadinov O. D., Koritarov T.D.

TransNav : International Journal on Marine Navigation and Safety of Sea Transportation

2025

Vol. 19 No. 2

483--488

Two types of maritime trade organizations are used to transport goods by sea: tramp shipping and liner trade. The differences between the two are significant and necessitate the use of distinct carriage contracts. This study highlights the key differences between voyage charter parties and liner bills of lading, the main contracts used in tramp and liner shipping, respectively. Tramp shipping involves chartering vessels for specific voyages to transport bulk cargo, with customizable charter parties negotiated between the shipowner and charterer. In contrast, liner shipping follows regular routes and schedules, using standardized liner bills of lading for smaller consignments from multiple shippers. The main distinctions arise from the operational and economic characteristics of each model: voyage charter parties offer greater flexibility with freight rates and cargo requirements, while liner bills provide a uniform framework for efficiency in high-volume shipping. Understanding these differences is essential for stakeholders in maritime commerce, as they influence shipping arrangements, legal responsibilities, and commercial strategies. This analysis aims to clarify the contractual complexities in tramp and liner shipping for better decision-making in maritime trade.