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Top 3 ways to avoid demurrage costs

Estimated Reading Time: 4 mins Demurrage is simply the money payable to the owner for delay for which the owner is not responsible in loading and/or discharging after the laytime has expired. As such, demurrage is an unpredictable and oftentimes expensive component of shipping costs. SingStats affirms that Cargo Handling & Freight Charges, Charter Fees…

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Laytime and demurrage

Estimated reading time: 4 minutes   Laytime and lay days are two shipping terms that often get mixed up as having the same meaning. Although they sound similar, they differ greatly in meaning. Read more below to find out the different definitions of these 2 shipping terms.   What is laytime? Laytime or lay time,…

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Laytime and demurrage

Estimated reading time: 5 minutes   Laytime and demurrage are traditionally one of the most contentious issues in the shipping industry, owing to the frequency with vessels are delayed in port, the cost caused by such delays, and the often ambiguous wording in charter parties and contracts for the international sale of goods. To maintain…

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Laytime and Demurrage

  A charter party (commonly abbreviated to “C/P”) is a document containing the written terms of a charter agreement between a shipowner and a charterer. The terms of the contract will depend on the shipowner, charterer and the market. Parties involved can also form their own terms of contract which would remain free from any other…

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  Laytime and demurrage comprise one aspect of English maritime law in relations to voyage charters. ‘Laytime’ refers to the period of time agreed between the parties during which the owner will make and keep the vessel available for loading or discharging without payment additional to the freight. ‘Demurrage’ refers to the agreed amount payable…

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