A ( a ) is the hiring of a vessel and crew for a voyage between a load port and a discharge port. The charterer pays the vessel owner on a per-ton or lump-sum basis. The owner pays the port costs excluding ( b ), fuel costs and crew costs. The payment for the use of the vessel is known as freight. A voyage charter specifies a period, known as lay-time, for loading and unloading the cargo. If lay-time is exceeded, the charterer must pay ( c ).