Despatch
A payment back to the charterer for completing cargo operations in less than the allowed laytime: the mirror of demurrage.
- Category
- Cargo and Operations
- Last reviewed
How it works
Despatch (or dispatch) is money the owner pays the charterer as a reward for loading or discharging faster than the laytime allowed. It is commonly set at half the demurrage rate and applies to all time saved or only to laytime saved, depending on the clause.
Despatch is more typical in dry-bulk charters than in tanker trades, where demurrage usually applies without a corresponding despatch.
Where it shows up on The Maritime
Also known as: dispatch, despatch money.
Related terms
Demurrage
A daily penalty the charterer pays the owner for using more than the agreed laytime to load or discharge.
Laytime
The time allowed under the charter party for the charterer to load and discharge the cargo without extra payment.
More cargo and operations terms
A plain-English reference definition: our own explanation of a standard shipping concept, not a licensed source or legal advice. See the full glossary or the broader maritime dictionary.
Last reviewed: .