What is the difference between Laycan and laytime?
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What is the difference between Laycan and laytime?
Laycan means that certain period within the Layday Period and the earliest date at which loading (Laytime) can commence and the latest date upon which the Vessel can arrive at its appointed loading place without being at risk of being canceled.
What is commencement of laytime?
“Laytime” is’ the amount of time agreed in a voyage charter between the shipowner and the Charterer during which the vessel will be made and kept available for loading or discharging the cargo. This period must commence (and end) at a specified instant.
What is Laycan period?
The term “laycan” is frequently used in sale contracts to refer to the delivery period of the cargo. However, “laycan” is a charterparty term, referring to the period during which the vessel must arrive at port.
What means Laycan in shipping?
Laycan or L/C – Laydays Canceling – Period during which the shipowner must tender notice of readiness to the charterer that the ship has arrived at the pod of loading and is ready to load, This period is expressed as two dates, for example laydays 25 March canceling 2 April or, when abbreviated as laycan, laycan 25 …
What is the purpose of laytime?
The purpose of laytime calculations is to determine whether on completion of loading or discharge operations despatch is payable to the charterers or demurrage is due to the owners.
What is allowed laytime?
Allowed Laytime means the period of time which Seller shall be allowed, in accordance with Article 5.3, to complete the loading of a vessel without incurring demurrage; Sample 1Sample 2. Allowed Laytime as defined in Section 7.13.2(a);
Can nor be tendered before Laycan?
In short, the NOR is not validly tendered if the vessel is not ready or in case the NOR has been given premature (before arrival at the C/P destination). An invalid NOR does not become valid if the preceding requirements have been met as yet.
What is laytime in shipping?
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.
How is laytime calculated?
There are seven stages in a laytime calculation:
- Read relevant clauses in the charter party.
- Obtain Statement of Facts from agent.
- Determine duration of laytime allowed.
- Establish time of commencement of laytime.
- Allow for interruptions to laytime as per the charter party.
- Establish time of expiry of laytime.
What is trip time charter?
A trip time charter is a comparatively short time charter agreed for a specified route only (as opposed to the standard time charter where charterer is free to employ the vessel within agreed trading areas). A bareboat yacht charter (In the leisure industry, the term “demise charter” is not used).
What is a laytime give an example?
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.
What is the implication of notice of readiness to laytime?
The Notice of Readiness (NOR) is the document used by the Ship Master, to notify his ship readiness, in every respect, to load and/or unload the goods during the period of his charter. NOR is an extremely important document as it triggers the commencement of laytime.
What is reversible laytime?
REVERSIBLE LAYTIME means an option given to the charterer to add together the time allowed for loading and discharging. Where the option is exercised the effect is the same as a total time being specifi ed to cover both operations.
What is laytime statement?
by Ship Inspection. A document on which the agent has made a calculation of the amount of demurrage (owed to owners) or despatch (owed to charterers), as the case may be, based on the facts in the Statement of Facts.
What is a valid notice of readiness?
A Notice of Readiness (“NOR”) is a notification by the vessel that she is ready to start the charter service (upon delivery) or is ready to load or discharge cargo. Giving an NOR has two purposes: (i) to inform the charterers that the vessel is at their disposal; and (ii) to start the running of hire or laytime.
What is non reversible Laytime?
Laytime is the time allowed to the Charterer for loading and discharging. Therefore laytime would normally be calculated separately for loading and for discharging. Demurrage and despatch would also be calculated separately.
What is meant by Laytime in the context of voyage charterparty?
“LAYTIME” shall mean the period of time agreed between the parties during which the owner will make and keep the vessel available for loading or discharging without payment additional to the freight.
How is Laytime calculated?
There are seven stages in a laytime calculation:
- Read relevant clauses in the charter party.
- Obtain Statement of Facts from agent.
- Determine duration of laytime allowed.
- Establish time of commencement of laytime.
- Allow for interruptions to laytime as per the charter party.
- Establish time of expiry of laytime.
