Easy understanding of Laytime calculation in a Voyage Charter Party:
The statement of Fact is an important document for Laytime calculation. SOF should be agreed by all parties involved (master, stevedore, agent, port, shipper, receiver etc.), and will normally be presented by the agent to the master for his signature and return; the master should retain a copy. It's master look out to verify the timing with port log book before signing. There always chances that the charterer's agent may have obtained inaccurate times from his terminal supervisor, or may, for example, have recorded a period of rain in the vicinity of his office or surrounding area that did not affect the ship for the same period.
- Although the UPS shipping cost calculator generally calls for the same basic data as the FedEx calculator — ship-from and ship-to cities and ZIP Codes, number and weight of packages, whether the destination address is a residence or business, etc. — UPS has its own unique set of shipment services and pricing tiers.
- 3 Commencement of laytime. 3.1 Normally three conditions must be satisfied before the charterer can be required to start loading or discharging, as the case may be, and therefore before the laytime allowed starts to run. 1 These are that. The ship must have arrived at the destination specified in the charter. The ship must be ready and in a fit condition to receive or discharge her cargo.
The SOF/Time Sheet is an extract from the vessel's port operations log provided by the charterer's agent and contains times of all relevant events, including:
Laytime calculations are recorded on a laytime statement. There are seven stages in a laytime calculation: 1. 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. In the calculation of demurrage amount payable to shipowner, demurrage rate is multiplied by the number of days or part of day in excess of the agreed laytime.For example: Total Laytime Allowed 11 days; Demurrage Rate $60,000 per day pro rata (PDPR) Ship exceeded laytime allowed for loading and discharging by 4 days 6 hours 30 mins.
Vessel Laytime Calculation
• The arrival of the ship;
• Notice of Readiness tendering time ;
• Commencement of lay time;
• Commencement of cargo operations & Termination of cargo operation
• Periods of suspension of laytime & Termination of laytime.
Vessel's agent cheeks all details in SOF and preparing the Laytime Statement, from which any amount of demurrage or despatch money payable will be calculated.
Laytime calculation is required for determining whether on completion of loading or discharge operations despatch is payable to the charterers or demurrage is due to the owners.Vessel's master should keep a track of Laytime, commencement of laytime, and running, interrupted or expired of laytime. Laytime calculation is recorded on laytime statement. The vessel's port agent is generally responsible for calculating the total sum due and rendering accounts.
Below stages are required in a laytime calculation:
The Shipping System Laytime Calculator Free Download
1. Understanding of relevant clauses in the charter party.
2. Obtain SOF from vessel's agent.
3. Determine the duration of laytime allowed.
4. Ascertain time of commencement of laytime.
5. Allow for interruptions to laytime as per the charter party.
6. Ascertain time of expiry of laytime.
7. Calculate despatch or demurrage payable.
Laytime
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Dry cargo laytime is the amount of time which the owners and charterer agree it will take to load and discharge the cargo carried on board the vessel.
When negotiating a charterparty, the owners will calculate how much freight they require to compensate them for performing the voyage. A key factor is how long the voyage will take to perform, that is, the approach voyage, loading, the carrying voyage and discharging. An owner usually has no control over the loading and discharging, and therefore the charterer will accept an obligation to load and discharge the cargo within a fixed time called laytime.
The commercial purpose of laytime is, therefore, to compensate the owner for the time spent by the charterer loading and discharging the cargo over which the owner has no control.
For example if the owner had calculated his freight on the basis that time spent loading and discharging would take three days, but the charterer in fact spent ten days, the owner would have made no profit (and would have probably made a loss) from the employment of the vessel for that voyage.
If the cargo operations are finished by the charterer before the laytime expires, then the voyage will be more profitable for the owner, as it will be completed more quickly. In these circumstances, it is common for the owner to offer both a incentive and an reward for quick cargo operations. The sum the owner agrees to pay to the charterer is called despatch. This, too, is usually agreed as a term of the charterparty at half the demurrage rate. Airy for mac os.
DemurrageIf cargo operations are not finished before the laytime expires, the charterer is in breach and must pay damages – liquidated damages known as demurrage. The agreed rate of demurrage is normally based on the ship's operating costs plus the owner's profit. The demurrage rate will be pre-agreed as a term of the charterparty and is usually a fixed amount per day (or pro rata for part of a day).
Separate laytime allowances in dry cargo charterpartiesThe statement of Fact is an important document for Laytime calculation. SOF should be agreed by all parties involved (master, stevedore, agent, port, shipper, receiver etc.), and will normally be presented by the agent to the master for his signature and return; the master should retain a copy. It's master look out to verify the timing with port log book before signing. There always chances that the charterer's agent may have obtained inaccurate times from his terminal supervisor, or may, for example, have recorded a period of rain in the vicinity of his office or surrounding area that did not affect the ship for the same period.
- Although the UPS shipping cost calculator generally calls for the same basic data as the FedEx calculator — ship-from and ship-to cities and ZIP Codes, number and weight of packages, whether the destination address is a residence or business, etc. — UPS has its own unique set of shipment services and pricing tiers.
- 3 Commencement of laytime. 3.1 Normally three conditions must be satisfied before the charterer can be required to start loading or discharging, as the case may be, and therefore before the laytime allowed starts to run. 1 These are that. The ship must have arrived at the destination specified in the charter. The ship must be ready and in a fit condition to receive or discharge her cargo.
The SOF/Time Sheet is an extract from the vessel's port operations log provided by the charterer's agent and contains times of all relevant events, including:
Laytime calculations are recorded on a laytime statement. There are seven stages in a laytime calculation: 1. 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. In the calculation of demurrage amount payable to shipowner, demurrage rate is multiplied by the number of days or part of day in excess of the agreed laytime.For example: Total Laytime Allowed 11 days; Demurrage Rate $60,000 per day pro rata (PDPR) Ship exceeded laytime allowed for loading and discharging by 4 days 6 hours 30 mins.
Vessel Laytime Calculation
• The arrival of the ship;
• Notice of Readiness tendering time ;
• Commencement of lay time;
• Commencement of cargo operations & Termination of cargo operation
• Periods of suspension of laytime & Termination of laytime.
Vessel's agent cheeks all details in SOF and preparing the Laytime Statement, from which any amount of demurrage or despatch money payable will be calculated.
Laytime calculation is required for determining whether on completion of loading or discharge operations despatch is payable to the charterers or demurrage is due to the owners.Vessel's master should keep a track of Laytime, commencement of laytime, and running, interrupted or expired of laytime. Laytime calculation is recorded on laytime statement. The vessel's port agent is generally responsible for calculating the total sum due and rendering accounts.
Below stages are required in a laytime calculation:
The Shipping System Laytime Calculator Free Download
1. Understanding of relevant clauses in the charter party.
2. Obtain SOF from vessel's agent.
3. Determine the duration of laytime allowed.
4. Ascertain time of commencement of laytime.
5. Allow for interruptions to laytime as per the charter party.
6. Ascertain time of expiry of laytime.
7. Calculate despatch or demurrage payable.
Laytime
Follow Capt.Dheeraj Kumar on Twitter: Capt_Dheeraj
Dry cargo laytime is the amount of time which the owners and charterer agree it will take to load and discharge the cargo carried on board the vessel.
When negotiating a charterparty, the owners will calculate how much freight they require to compensate them for performing the voyage. A key factor is how long the voyage will take to perform, that is, the approach voyage, loading, the carrying voyage and discharging. An owner usually has no control over the loading and discharging, and therefore the charterer will accept an obligation to load and discharge the cargo within a fixed time called laytime.
The commercial purpose of laytime is, therefore, to compensate the owner for the time spent by the charterer loading and discharging the cargo over which the owner has no control.
For example if the owner had calculated his freight on the basis that time spent loading and discharging would take three days, but the charterer in fact spent ten days, the owner would have made no profit (and would have probably made a loss) from the employment of the vessel for that voyage.
If the cargo operations are finished by the charterer before the laytime expires, then the voyage will be more profitable for the owner, as it will be completed more quickly. In these circumstances, it is common for the owner to offer both a incentive and an reward for quick cargo operations. The sum the owner agrees to pay to the charterer is called despatch. This, too, is usually agreed as a term of the charterparty at half the demurrage rate. Airy for mac os.
DemurrageIf cargo operations are not finished before the laytime expires, the charterer is in breach and must pay damages – liquidated damages known as demurrage. The agreed rate of demurrage is normally based on the ship's operating costs plus the owner's profit. The demurrage rate will be pre-agreed as a term of the charterparty and is usually a fixed amount per day (or pro rata for part of a day).
Separate laytime allowances in dry cargo charterpartiesIn dry cargo charterparties it is usual to agree a separate period to cover loading and discharging based on rates of loading and discharging, where, dependent on the methods used, one operation will usually be quicker than the other.
Even if the agreed rate is the same, a separate laytime calculation must be produced for loading and discharging. If the charter provides for despatch as well as demurrage, then, dependent on the time used, despatch or demurrage will be payable at the end of loading and the same on completion of discharge.