Laytime Calculations

Laytime calculations refer to the time allowed for loading or unloading cargo on a ship, specified in a contract. It determines how long a ship can stay in port without incurring additional charges. If the laytime is exceeded, the owner of the cargo may have to pay demurrage fees, which compensate the shipowner for the delays. Calculating laytime involves understanding the agreed-upon time limits, any interruptions, and port conditions. Accurate laytime calculations are crucial for both shipowners and cargo owners to avoid disputes and ensure efficient shipping operations.