The Laytime calculation

Laytime calculation refers to the period allowed for loading or unloading cargo on a ship, as specified in a shipping contract. It determines how long a shipowner has to complete these operations without incurring additional costs, known as demurrage, for delays. If the time exceeds the agreed laytime, the shipper may be charged for the extra time. Laytime is carefully defined in contracts to ensure that both parties understand their obligations and to prevent disputes over timing and fees. Ultimately, it facilitates smooth operations in maritime trade.