2.1 Dry cargo and general

Time is money in merchant shipping. The shipowner provides and pays for crews, stores, and other operating costs of the vessel. Hire is the lifeblood of owners who charter their vessel out on time charter. Its payment was the fundamental obligation of a time charterer. The charterer must pay hire for the use of the ship unless he can bring himself within the exceptions. He must bring himself clearly within the exceptions. If there is a doubt as to what the words mean, those words must be read in favor of the owners.1