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TermDefinition
laytime time allowed by the shipowner to the voyage charterer to carry out the cargo loading and/or discharging operations; laytime may be expressed as a certain number of days or number of tons of cargo loaded/unloaded per day

see average laytime, reversible laytime, non-reversible laytime, all purposes laytime
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Related matches:
TermDefinition
all purposes laytime laytime in which one combined time is specified for both loading and discharging

compare average laytime
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arrived ship a ship is considered arrived and the laytime can commence when certain conditions specified in the charterparty are fulfilled, e.g. reach the designated position for loading or discharging, vessel is ready in all respects for cargo operation and notice of readiness properly given
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average laytime laytime in which loading and discharging times are calculated separately and any time saved in one operation is allowed to offset the additional time used in the other

compare reversible laytime
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despatch compensation paid by shipowner to charterer as a 'reward' when the latter is able to complete the cargo operations in less time than the laytime allowed

opposite of demurrage
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free time period between the time a ship is ready to load or discharge after giving notice of readiness and the time laytime is due to commence
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laycan a ship chartering term which stands for laydays commencement and cancelling; specifies the earliest date on which laytime can commence and the latest date, after which the charterer can opt to cancel the charterparty
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laydays days allowed for cargo operation in a charterparty, i.e. laytime calculated in the number of days
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non-reversible laytime laytime in which the loading and discharging times are calculated separately, and demurrage and despatch are also calculated separately for loading and discharging ports

opposite of reversible laytime
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reversible laytime laytime which allows the charterer the option of adding together the loading and discharging times; in this case, demurrage does not commence until the combined times exceed the total time specified for both operations

opposite of non-reversible laytime
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statement of facts document for recording the dates and times of a vessel's arrival, and the commencement and completion of cargo operation for laytime calculation; SOF for short
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