(1) To provide a seaworthy ship suitable for carrying the intended cargo;
(2) to bring the ship to the agreed loading port by the agreed date; (3) to load the agreed cargo; (4) to carry the cargo to the agreed discharge port(s); (5) to discharge and deliver the cargo. Owners must pay both the ship’s running costs (vessel operating expenses) and voyage costs, with the exception, where “free in and out” (FIO) terms are agreed, of cargo-handling costs at both ends.
