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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 ]
Statement of Facts (SoF) is a report listing all events during a ship's stay in port in chronological order and is used for the calculation of the lay time [1] [2] and demurrage. [3] The Statement of Facts may aid in the resolution of conflicts by providing transparency and a precise documentation.
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 ...
Worldscale is produced by Worldscale Association (NYC) Inc. for the Americas and by Worldscale Association (London) Ltd. for the rest of the world. The freight for a given ship and voyage is normally expressed in a percentage of the published rate and is supposed to reflect the freight market demand at the time of fixing. Following are some ...
The International Longshoremen's Association union and the U.S. Maritime Alliance of ports and shipping companies said they had reached a tentative agreement for a six-year contract, a week ahead ...
The Review of Maritime Transport (RMT) an annual publication by the United Nations Conference on Trade and Development (UNCTAD). It provides an analysis of structural and cyclical changes affecting seaborne trade, ports and shipping, as well as an extensive collection of statistical information [ 1 ]
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