Laytime
The time allowed under the charter party for the charterer to load and discharge the cargo without extra payment.
- Category
- Cargo and Operations
- Dictionary entry
- Laytime
- Last reviewed
How it works
Laytime is the agreed amount of time the charterer has to complete loading and discharging operations. It is usually expressed in days, hours, or as a loading/discharge rate in tonnes per day, and begins after a valid notice of readiness and any agreed turn time.
If the charterer uses less than the allowed laytime they may earn despatch; if they exceed it, demurrage becomes payable. Calculating laytime accurately, accounting for excepted periods like weather and holidays, is a core operations skill.
Where it shows up on The Maritime
Also known as: lay time, laytime allowed.
The short dictionary definition is at Dictionary entry: Laytime. This page is the explainer.
Related terms
Demurrage
A daily penalty the charterer pays the owner for using more than the agreed laytime to load or discharge.
Despatch
A payment back to the charterer for completing cargo operations in less than the allowed laytime: the mirror of demurrage.
Laycan
The window of dates within which a ship must arrive and be ready to load, or the charterer may cancel.
Notice of Readiness (NOR)
The formal notice that a ship has arrived and is ready to load or discharge, which starts the laytime clock.
Charter Party (C/P)
The contract between shipowner and charterer setting out the terms of hiring a vessel or carrying a cargo.
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: .