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 1 day and 23 hours, or 47 hours.
- Compare actual laytime used (47 hours) with allowed laytime (50 hours): The actual laytime is less than the allowed laytime by 3 hours.
- Calculate despatch for discharging: 3 hours of unused laytime, which is 1/8 of a day. The despatch rate is 50% of the demurrage rate, so the despatch for discharging is (1/8 * 0.5 * $9,000) = $562.50.
Final Settlement:
- Calculate the difference between demurrage and despatch: $375 (demurrage) – $562.50 (despatch) = -$187.50.
- Since despatch exceeds demurrage by $187.50, the shipowner owes the charterer a net payment of $187.50.
In this example, the $375 demurrage for loading is offset against the $562.50 despatch earned during discharging, leaving a net payment of $187.50 from the shipowner to the charterer.
