The shipping community has been grappling with questions regarding the rapid and efficient calculation of laytime while keeping costs in check. In this concise analysis, we will delve into the creation of a customized tool for this purpose.
A readily available and effective solution to this challenge lies in spreadsheet applications such as MS Excel or Openoffice.org Calc, among others. We will illustrate a laytime calculation example tailored to a dry bulk carrier scenario, considering a single load and discharge port.
Crucial parameters that demand attention encompass:
- The total cargo quantity in metric tons, as stipulated in the bills of lading.
- The loading (and discharge) rate in metric tons per working day of 24 consecutive hours, adjusted for weather conditions.
- The demurrage rate, expressed in US dollars per day. The despatch rate is typically half the demurrage rate unless otherwise specified in the charter party.
- The precise date and time as indicated in the Notice of Readiness (NOR), submitted by the Master upon arrival at the port (or berth).
- The statement of facts (SOF), also referred to as the time sheet, containing accurate records provided by the port agent.
Ordinarily, this dataset is sufficient to calculate the final despatch or demurrage, determining the balance owed to either the charterers or the shipowners.
The logic underpinning laytime calculations is fairly straightforward:
- If not already defined in the charter party, compute the allotted time for loading or discharging.
- Determine the commencement of laytime by adding the turnaround time to the NOR timestamp, noting that laytime cannot commence before the laycan period begins unless otherwise specified in the charter party.
- Aggregate all time intervals utilized to calculate the total time consumed. In your spreadsheet, it may be preferable to express this as a floating-point value representing days.
- Finally, ascertain the variance between the allowed time and the time used, multiplying this difference by the applicable despatch or demurrage rate based on whether the difference is negative or positive, respectively.
In your spreadsheet, ensure that time intervals are accurately summed up after adjusting cell properties to the appropriate time format. Be vigilant in setting the accuracy to meet your specific requirements.
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