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Laytime Definitions for Charter Parties 2013

The Laytime Definitions for Charter Parties have been developed to provide practitioners with a set of meanings of commonly used words and phrases. The objective is to help reduce disputes about party intentions in a market where fixtures are often concluded on the basis of a recap message and liste... Please follow the link to continue reading.

Explanatory notes

Introduction Laytime and demurrage are fundamental to tramp shipping. Specialist terms which have evolved over the years have been extensively analysed by legal commentators and frequently tested in the courts. This has resulted in subtle distinctions where a choice of term or use of language can ad... Please follow the link to continue reading.