Logistics
Laydays
Range of dates within which the vessel must present at the port to begin loading or unloading per the charter party. If the vessel arrives outside this period, the charterer may cancel.
Range of dates within which the vessel must present at the port to begin loading or unloading per the charter party. If the vessel arrives outside this period, the charterer may cancel.
Range of dates within which the vessel must present at the port to begin loading or unloading per the charter party. If the vessel arrives outside this period, the charterer may cancel.
Laytime
Period of time agreed in the charter party for the charterer to load or unload goods without additional costs. If exceeded, demurrage is charged; if saved, despatch is paid.
LogisticsNotice of Readiness
Formal notification from the master to the charterer or their agent indicating the vessel has arrived at port and is ready to load or unload. Its acceptance starts the laytime clock.
TransportationCharter Party
Contract between a vessel owner and a charterer for full or partial use of the vessel to transport cargo.
LogisticsVoyage Charter
Charter contract where the shipowner makes the vessel available for a specific voyage from one port to another. The shipowner maintains operational control and pays operating expenses.