When does freight payment start for charters by months or days?

Freight payment for charters by months or days typically starts from the day loading begins because this marks the commencement of the charter period. Charter agreements generally stipulate that the time charter rate will accrue starting from the moment the vessel starts taking on cargo. This aligns with the operational aspect of the charter, where the ship is effectively engaged in the transportation of goods once loading initiates.

This timing reflects the nature of time charters, where the charterer pays for the availability and use of the vessel, rather than just when cargo is delivered or upon contract signing. Starting the freight payment at the point of loading ensures that both parties are clear on when costs begin to accrue for the time the ship is actively engaged in its designated job.