How does a voyage charter differ from a space charter?

In maritime law, a voyage charter and a space charter are both types of contracts for the carriage of goods, but they differ primarily in the extent of the vessel's capacity engaged by the charterer.

• Voyage Charter: This is a contract of affreightment where a ship is chartered for a specific one-way voyage (or a series of voyages) between designated ports to transport a specified cargo. Under this arrangement, the shipowner typically retains responsibility for all voyage expenses, subject to specific agreements regarding loading and discharging costs. It is the most common method of chartering a tramp ship.123
• Space Charter: This is a specific variation of a voyage charter. While a standard voyage charter often involves the carriage of a full cargo, a space charter occurs when a charterer contracts for the use of only a portion of the vessel's total carrying capacity.2

In both instances, the contract governs the transportation of goods, though the voyage charter is the broader category under which the space charter functions as a partial-capacity agreement.2