Laytime Calculation

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Laytime calculations, typically, represent the application of contractually agreed terms, conditions and exceptions to loading and discharging cargo operations.  In the maritime industry, the purpose of such calculations is the determination of payment obligations between the contracting parties with respect to how long a vessel lays in port.   In other sectors of the transportation industry, similar calculations are very often applied to the amount of time a barge, rail car, truck, container, or airplane remains at the disposal of a contracting party.

 There is a wide variety of both standard and specialized shipping contracts all of which specify the obligations of each party to the contract.  Such variety has provided the transportation industry with many unique terms and many subtle variations to more common terms.  Laytime2000 provides a framework on which both unique and common laytime terms can be inserted.   Such a framework provides a high degree of flexibility for configuring each laytime statement according to specific contractual requirements.

Laytime2000 associates a laytime statement with a "voyage". 

For the purpose of laytime, the voyage calculation may be comprised of one or more loading and/or discharging ports.  Thus, for example, where a contract provides for Free In/Liner Out terms, the laytime calculation can be set to identify load operations only.   On the other hand where the terms provide for Free In/Free Out operations at several load ports and several discharge ports, the laytime calculations can be set to provide separate or combined calculations for all ports.

Whether the contract provides for straight, reversible, or averaged laytime, the Laytime 2000 framework allows the user to specify the appropriate choice with a simple mouse click.  “Straight" laytime applies to those calculations in which load laytime is calculated separately from discharge laytime.  Laytime2000 then summarizes  the two separate results together to indicate the net amount payable.

For "reversible" laytime, Laytime2000 compares the total time allowed at all the load and discharge ports combined with the total laytime used at all load and discharge ports combined.  In so doing, a total time saved or lost is computed.

For “averaged” laytime, the program, once again, computes the load and discharge operations separately, but, unlike straight laytime, it does not calculate a separate amount payable at each end.  Instead, it compares the time saved or lost at load port(s) with the time saved or lost at discharge port(s) and then computes a net time saved or time lost and, only then, applies the appropriate despatch or demurrage rate for determining the amount payable.

The full explanation of laytime calculations falls far outside the scope of this site.  Suffice it to say, however, that Laytime2000 is designed for those who already understand the fundamentals of laytime calculations and need a tool that makes the calculations reliable and convenient.   Whether you are a broker, a stevedore, a shipper, a receiver,  a charterer, an Owner or anyone else who has the need to calculate laytime, Laytime2000 is sure to meet your needs.



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Copyright © 1999 Laysoft, Inc.
Last modified: November 24, 1999