Lay equation charter easily

Aug 6th, 2022
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How to lay equation charter

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[Music] late time is the time allotted for a ship to load or discharge its cargo is paid by the ship owner to the charter under avoid charter when a ship is loaded are discharged in less time than a load in the charter party the merger is quite opposite of dispatch so the merge is payable to the ship owner so if the charger requires use of the vessel for more time than the time allowed the charterer will pay the mortgage to the support notice of readiness this document has to be tendered and accepted before late time can begin shakes this means that late time should not be counted on sundays and holidays while shane and holidays are included in me time a weather working day refers to 24 consecutive working hours without any interruption these factors mainly the commencement of playtime bad weather equipment failure weekends and holidays and strikes may interrupt playtime now that we know the factors that we need to consider before calculating late time lets attempt this question toge

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A laytime is a free time (allotted time) given to the charterer of a vessel for loading or unloading. During the allotted time, the charterer has to load or unload his goods on the available free time written in the charter agreement.
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. Each pair of parallel twin hatches shall count as one hatch.
As far as time charter-parties are concerned, it is true to say that there is no need for laytime and demurrage clauses, since the owner is capable of being paid by the time charterer even if there is no voyage.
The voyage charter is the most common. Under this method a ship is chartered for a one-way voyage between specific ports with a specified cargo at a negotiated rate of freight.
Chartering is the term used to name the renting of a whole ship, in an agreement between a shipowner and a renting party, in this case known as charterer, intermediated by a freight forwarder or a shipbroker. The charterer is the individual or organization renting the ship.
Number of lay days is then determined by dividing the total amount of cargo by the daily rate. Any resulting fraction must be treated as an appropriate fraction of the working day and will not permit the charterer to an extra full day.
(a) Time for discharging to count from 1300 hours the same Working Day if NOR is given before noon or 0800 hours on the next Working Day if NOR is given after noon during Office Hours, whether the vessel is in berth or not, unless sooner commenced then actual time used in discharging to count.
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.
There are three classes of charter parties - the Voyage, the Time, and the Demise or BareBoat.
Laytime shall commence at 13.00 hours if notice of readiness is validly tendered at or before 12.00 hours and at 08.00 hours on the next working day if notice of readiness is validly tendered after 12.00 hours. Thus, if NOR is tendered on Monday before 12.00 a.m., laytime commences at 13.00 hours on the same day.

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