Logistics
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.
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.
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.
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.
LogisticsLaytime Calculation
Process of computing the time used for loading and unloading versus the time allowed in the contract. Determines whether demurrage is payable to the shipowner or despatch to the charterer.
LogisticsDemurrage
An additional charge by the shipping line when a container is not returned within the agreed free time period after discharge at port.