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How to lay charter

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What is laydays example?

Laydays refers to a period of specified days (e.g. Jan 7/16) during which owners must present the vessel for loading. Laydays should not be confused with laytime, which is the period allowed to the charterers for loading and/or discharging without payment additional to the freight.

What is the difference between laytime and demurrage?

Laytime is time allowed to a vessel for loading and discharge of cargo, whereas demurrage is compensation for failure to load or discharge the vessel within laytime.

What is laydays and cancelling date?

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 does laydays mean in shipping?

Lay day is defined as days stipulated for the loading or unloading of cargo from a ship. In other words, the time a ship must docHub the charterer for cargo operations. Lay days are determined by 2 factors, the type and amount of cargo.

What is the difference between Laycan and laydays?

Laydays and canceling are often called the laycan; they represent the period within which the vessel must be presented at the agreed port or place. If the vessel arrives before the first day of the period, the charterers do not have to accept her until commencement of the agreed laydays.

What does lay days mean in shipping?

Lay day is defined as days stipulated for the loading or unloading of cargo from a ship. In other words, the time a ship must docHub the charterer for cargo operations. Lay days are determined by 2 factors, the type and amount of cargo.

What are the 3 types of charter?

Types of Charters. The three most common types of charter contracts are the voyage charter, the time charter, and the demise (or bareboat) charter.

What is the meaning of lay days?

noun. 1. : one of the days allowed by the charter for loading or unloading a vessel. : a day of delay in port.

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