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A laytime is a free time (allotted time) given to the charterer of a vessel for loading or unloading. During the allotted time, the charterer has to load or unload his goods on the available free time written in the charter agreement.

What is Laycan. Laydays refers to a period of specified days (e.g. “Jan 7/16”) during which owners must present the vessel for loading. Laydays should not be confused with laytime, which is the period allowed to the charterers for loading and/or discharging without payment additional to the freight.

Calculate Laytime Used: Calculate the actual laytime used by determining the time elapsed between the commencement of laytime and the completion of loading or discharging operations. If laytime is expressed in working days, exclude non-working days, such as weekends and public holidays, from the calculation.

It refers to the period within which the ship is expected to arrive at the port and be ready to load or discharge cargo. This period is typically given as a range of dates. For example, a Laycan of 1st June to 10th June means the ship is expected to arrive between these dates.

Laytime calculation is required for determining whether on completion of loading or discharge operations despatch is payable to the charterers or demurrage is due to the owners. Vessel's master should keep a track of Laytime, commencement of laytime, and running, interrupted or expired of laytime.

In commercial shipping, laytime is the amount of time allowed in a voyage charter for the loading and unloading of cargo. Under a voyage charter or time charter, the shipowner is responsible for operating the vessel, and the master and crew are the employees of the shipowner, not the charterer.

Laytime can be defined as the amount of time allowed to a ship in a voyage charter for loading and unloading of cargo at a port. If a ship fails to complete the work during this allotted time and the ship is required to stay at a port for a longer time, then demurrage (fine) is incurred to the ship owner.

Calculate Demurrage: To calculate demurrage, first determine the excess time by subtracting the agreed-upon laytime from the adjusted laytime. Then, multiply the excess time by the demurrage rate specified in the charter party. The demurrage rate is usually quoted in USD per day or per hour.

A laytime is a free time (allotted time) given to the charterer of a vessel for loading or unloading. During the allotted time, the charterer has to load or unload his goods on the available free time written in the charter agreement.

What is Laycan. Laydays refers to a period of specified days (e.g. “Jan 7/16”) during which owners must present the vessel for loading. Laydays should not be confused with laytime, which is the period allowed to the charterers for loading and/or discharging without payment additional to the freight.

Calculate Laytime Used: Calculate the actual laytime used by determining the time elapsed between the commencement of laytime and the completion of loading or discharging operations. If laytime is expressed in working days, exclude non-working days, such as weekends and public holidays, from the calculation.

It refers to the period within which the ship is expected to arrive at the port and be ready to load or discharge cargo. This period is typically given as a range of dates. For example, a Laycan of 1st June to 10th June means the ship is expected to arrive between these dates.

Laytime calculation is required for determining whether on completion of loading or discharge operations despatch is payable to the charterers or demurrage is due to the owners. Vessel's master should keep a track of Laytime, commencement of laytime, and running, interrupted or expired of laytime.

In commercial shipping, laytime is the amount of time allowed in a voyage charter for the loading and unloading of cargo. Under a voyage charter or time charter, the shipowner is responsible for operating the vessel, and the master and crew are the employees of the shipowner, not the charterer.

Laytime can be defined as the amount of time allowed to a ship in a voyage charter for loading and unloading of cargo at a port. If a ship fails to complete the work during this allotted time and the ship is required to stay at a port for a longer time, then demurrage (fine) is incurred to the ship owner.

Calculate Demurrage: To calculate demurrage, first determine the excess time by subtracting the agreed-upon laytime from the adjusted laytime. Then, multiply the excess time by the demurrage rate specified in the charter party. The demurrage rate is usually quoted in USD per day or per hour.