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Important Terminology

What is Laytime?

It is the time during which a vessel is lying always safely afloat, for the purpose of loading, discharging or waiting for orders, as distinct from moving, first stage of the voyage with the object of sailing to loading port or place and third stage of voyage for carrying her cargo from loading port or place to discharging port or place.

Purposes and Contracting Parties

The shipowner look to find the right cargo, trying to win money at the maximum possible invested rate of freight ´”freight rate”, meanwhile the charterer look the right vessel by her type, size, characteristics and geographical place in order to carry a cargo to the port(s) or place(s) of destination at the minimum possible rate of freight.

Allowed Laytime

The period of allowed time to operate with the cargo will depend to the right quantity of cargo loaded. It is very important to know in advance between another points, the specifications of cargo, the characteristics of the vessel and the port`s facilities.