Lay formula charter easily

Aug 6th, 2022
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How to lay formula charter

4.7 out of 5
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so were going to take a look at the basics partly as a refresher and partly for new information and well look briefly at the definition of it the purpose of it and then we will look at the very important documents and after that i have a few worked examples to share with you so the definition is an agreed limited period of time to load and discharge the cargo this is agreed and it is limited freight that is payable under a voyage charter and of course all of this late time session is only to do with voyage chartering not time chartering im sure you will know from your experience in shipping that with time charging the owners dont care how long the ship spends import as long as the hire is paid every 15 days here we are talking about void charging a voyage from a to b and the charterers the voyage charterers are responsible for providing cargo for choosing safe ports for loading and for discharging and for arranging the loading and discharging operation exactly how that works i wil

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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.
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.
Delay due to a ships condition or breakdown or inability of its facilities to load or discharge cargo does not count as used laytime. Further, where regulations of the owner or port authorities prohibit loading or discharging at night, any time so lost does not count against laytime.
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.
The days are called laydays (or laytime) and are stipulated in the charter party as working days, weather working days, running days and excepted days. If the charterer loads or discharges his cargo in less time than the number of laydays allowed, he earns dispatch money at so much a day or part of a day saved.
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.
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.
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.

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