Answer
Laytime- in Voyage charter -it’s the time allotted to charter to load or discharge the cargo. It will be
as per CP contract.(if load or discharge time more or less then Iaytime- then penalty or reward as per charter party contract.
Types of Iaytime-
1.Definite- time period is decided in CP contract
2.Calculable- decided by calculating with info given in CP contract.
3.Indefinite- time is not fixed, but shipowner and charterer should take responsibility.
Laycan- in Voyage charter- Combination of Lay days and Cancelling days.
Iaycan is the range of dates within which the vessel is expected to arrive at the port or anchor or
predetermined location , ( date days for which vessel must give NOR)
Example- if Iaycan = 5 to 9 jan 2000 , then vessel must be at the location provide in btw 5 to 9 jan. including both dates, if vessel can’t present herself at location, the charter have the right to cancel the contract(CP) Cancellation date in Laycan – It is the final agreed day within the Iaycan window by which the vessel must be ready to load; if not the charterer may cancel the contract w/o penalty. It is also termed as “Cancelling Day”.
It means the name of the date at the cancellation date i.e. day of the week corresponds to that specific date such as Monday, TUESDAY etc.
NOR- notice of readiness – It’s the notification by vessel to charter that she is ready to start charters service or She is ready to load or discharge cargo.
Its given for the purpose-
1.To inform charter that vessel is at their disposal(ready to follow their instruction) 2.To start the running of hire rate or Iaytime.
P- Physically ready [fit to load- cargo holds and cargo gear ready] L- Legally ready [certification and Documentation]
A – Arrived at destination
Demurrage- compensation to owner (by charter) – penalty pay by charter for late cargo operation (If load or discharge time more than Iaytime)
Dispatch- reward to charter(by ship owner)- bcz of early cargo operation completion, dispatch by owner to reward charter.
(if load or discharge time less than Iaytime)
Demiurge and dispatch amount will be as per charter party agreement. Normally dispatch = 50% of dmurage.
Demiurge and dispatch only for Voyage charter.
Offhire – A period during a time charter when the vessel is unavailable for service due to breakdowns during which the charterer is not req. to pay hire
In the Time Charterer party clause, an off-hire claused is mentioned where the owner has breathing time to repair his vessel .Normally 48hrs/year. Mns Off-hire for a allotted time until repairs are carried out.
CE role in Offhire:
1. Proper calculation of bunkers from time of bunker till it comes on hire.
2. Date and time of Off-hire period
3. Location
4. Vessel to be seaworthy after repairs