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What is the Difference between Lay days and Lay time?
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What is the Difference between Lay days and Lay time?
Lay days and lay time are frequently used terms in the realm of commercial shipping, and they are often conflated, leading to confusion. While both concepts revolve around the management of time for loading and unloading cargo, it’s crucial to recognize the fundamental distinction between the two. Laydays can be described as the specific days…
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What is Laytime in shipping?
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. In the event where the free time either lapses or not adhere to,…
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What is Laytime meaning From Wikipedia?
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. However, once the vessel has…