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In commercial shipping, laytime is the amount of time allowed, measured in days (or portions thereof), hours, or even tides, within a voyage charter for the loading and unloading of cargo. [ 1 ] [ 2 ]
A voyage charter specifies a period, known as laytime, for loading and unloading the cargo. If laytime is exceeded, the charterer must pay demurrage. If laytime is saved, the charter party may require the shipowner to pay despatch to the charterer. [1] A time charter is the hiring of a vessel for a specific period of time.
Demurrage is laytime consumed less laytime allocated (if any). The master of the ship must give a Notice of Readiness (NOR) to the charterer when the ship has arrived at the port of loading or discharge. The NOR informs the charterer that the ship is ready to load or discharge. The date and time of the NOR determines when laytime is to commence ...
A freight rate (historically and in ship chartering simply freight [1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport (truck, ship, train, aircraft), the weight of the cargo, and the distance to the delivery destination.
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a hirer ("charterer") for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure. [1] Charterparty is a contract of carriage of cargo in the case of employment of a charter boat. It means that the charterparty will clearly ...
This is a list of the 30 largest container shipping companies as of February 2024, according to Alphaliner, ranked in order of the twenty-foot equivalent unit (TEU) capacity of their fleet. [1] In January 2022, MSC overtook Maersk for the container line with the largest shipping capacity for the first time since 1996. [2]
The Hague–Visby Rules is a set of international rules for the international carriage of goods by sea.They are a slightly updated version of the original Hague Rules which were drafted in Brussels in 1924.
The port sees short sea shipping as a way to capture a share of the growth in regional road and rail shipping to and from eastern Canadian container ports. In 2015 27% [ 33 ] of the Port of Montreal's expanding container shipping volume came from or was destined for Ontario with much of the trade volume shipped by transport truck down Highway 401 .