Here’s another example of laytime calculation in a voyage charterparty agreement:
Charterparty Terms:
- Allowed laytime for loading: 30 hours
- Allowed laytime for discharging: 50 hours
- Demurrage rate: $9,000 per day or pro-rata
- Despatch rate: 50% of demurrage rate
Timeline:
- Ship arrives and gives Notice of Readiness (NOR) at the loading port on July 10 at 05:00.
- Laytime starts counting immediately.
- Loading completed on July 11 at 12:00.
- Ship arrives and gives NOR at the discharging port on July 18 at 22:00.
- Laytime starts counting after 3 hours of waiting time on July 19 at 01:00.
- Discharging completed on July 21 at 00:00.
Laytime Calculation:
Loading:
- Calculate the actual laytime used for loading: From July 10, 05:00, to July 11, 12:00, which is 1 day and 7 hours, or 31 hours.
- Compare actual laytime used (31 hours) with allowed laytime (30 hours): The actual laytime exceeds the allowed laytime by 1 hour.
- Calculate demurrage for loading: 1 hour of excess laytime, which is 1/24 of a day. Demurrage is $9,000 per day, so the demurrage for loading is (1/24 * $9,000) = $375.
Discharging:
- Calculate the actual laytime used for discharging: From July 19, 01:00, to July 21, 00:00, which is 2 days, or 48 hours.
- Compare actual laytime used (48 hours) with allowed laytime (50 hours): The actual laytime is less than the allowed laytime by 2 hours.
- Calculate despatch for discharging: 2 hours of unused laytime, which is 1/12 of a day. The despatch rate is 50% of the demurrage rate, so the despatch for discharging is (1/12 * 0.5 * $9,000) = $375.
Final Settlement:
- Calculate the difference between demurrage and despatch: $375 (demurrage) – $375 (despatch) = $0.
- Since the difference is zero, neither party owes the other any payment for demurrage or despatch.
In this example, the charterer and the shipowner do not owe each other any demurrage or despatch payment, as the demurrage for loading is offset by the despatch earned during discharging.
