A charterer is unable to complete the loading of a vessel during the lay days specified in the charter party. Under these circumstances, which action may occur?
• Lay days / laytime in a charter party and what they represent • Difference between demurrage and dispatch money • What happens when loading or discharging is slower or faster than agreed
• Think about whether the charterer used more or less time than allowed for loading the vessel • Ask yourself: is the charterer causing a delay to the ship, or saving time for the ship? • Consider which payments are made to compensate the vessel operator for delay versus reward the charterer for saving time
• Determine if the situation describes exceeding the agreed lay days or finishing early • Recall which term applies when extra time beyond lay days is used for cargo operations • Verify which payment (dispatch or demurrage) goes to the charterer and which goes to the vessel operator
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