What is Laydays ?
Laydays are agreed days within which vessel will arrive.
What is Laytime ?
Laytime is the time allowed for loading and discharging. Laytime is expressed in number of hours with certain exceptions and calculations attached to it .
Types of Laytime :
Reversible Laytime & Non-reversible laytime.
Tanker laytimes are always reversible except on CFR Contracts.
What is Demurrage ?
In a voyage charter the vessel’s owner allows charterer to load and discharge cargo for an agreed sum as compensation. That is the freight. The freight is only for loading/carrying/ and discharging while making such an agreement the owner also agrees with the charter party, the number of days/hours for loading and discharging. If the vessel is engaged for anytime - over and above this - then the charterer should compensate the Owner for this extra time used. This is Demurrage.
In a voyage charter the vessel’s owner allows charterer to load and discharge cargo for an agreed sum as compensation. That is the freight. The freight is only for loading/carrying/ and discharging while making such an agreement the owner also agrees with the charter party, the number of days/hours for loading and discharging. If the vessel is engaged for anytime - over and above this - then the charterer should compensate the Owner for this extra time used. This is Demurrage.
What are the types of charter ?
Time Charter
1) Long Time
2)Short Time
Voyage Charter
1) Single or more Voyages
2) COA(Contract of Affreightment)
3) CVS(Consecutive Voyages)
Time Charter : Charter Hire
Voyage Charter : Freight.
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