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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.
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. The Statement of Facts may aid in the resolution of conflicts by providing transparency and a precise documentation. The Statement of Facts has usually a standardised ...
Laytime applies to both liner shipping and tramp shipping. In the oil industry, it refers to the excess time taken to discharge or load, as the case may be, in excess of the allowed laytime. Laytime is the term used to quantify the time allowed within which an operation is allowed to be made.
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.
In time and voyage charters, the shipowner still runs the ship, but when in port the charterer becomes responsible for loading and unloading the ship within the agreed period of laytime. If the charterer exceeds the allowed laytime, demurrage [ 5 ] becomes payable.
Instead, the people who rent the vessel from the owner are responsible for taking care of such things and (for commercial shipping) obtaining insurance, usually for a minimum term of one year. [1] The act is commonly known as bareboating or bareboat charter.
In order to maximize the economy of handling and shipping of containers on a container ship, stowage plans, [1] sometimes known as bay plans, [2] have become essential in the shipping trade. The plans are also vital for safety on board the ship and it is recommended that personnel working on ships are familiar with them.
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