Laytime and Demurrage of Voyage Chartering of Tankers

Course Info

Length: 1 Week

City: Dubai

Type: In Classroom

Available Dates

  • Dec-25-2023

    Dubai

  • Feb-12-2024

    Dubai

  • Apr-08-2024

    Dubai

  • June-10-2024

    Dubai

  • Aug-12-2024

    Dubai

  • Oct-14-2024

    Dubai

  • Dec-09-2024

    Dubai

Dates in Other Venues

  • Dec-18-2023

    London

  • Jan-22-2024

    Athens

  • Jan-22-2024

    Hamburg

  • Jan-29-2024

    London

  • Feb-19-2024

    Istanbul

  • Feb-19-2024

    Rotterdam

  • Mar-25-2024

    Athens

  • Mar-25-2024

    London

  • Mar-25-2024

    Hamburg

  • Apr-15-2024

    Istanbul

  • Apr-15-2024

    Rotterdam

  • May-27-2024

    Hamburg

  • May-27-2024

    Athens

  • May-27-2024

    London

  • June-17-2024

    Rotterdam

  • June-17-2024

    Istanbul

  • July-22-2024

    Athens

  • July-22-2024

    Hamburg

  • July-29-2024

    London

  • Aug-19-2024

    Istanbul

  • Aug-19-2024

    Rotterdam

  • Sep-23-2024

    Athens

  • Sep-23-2024

    Hamburg

  • Sep-30-2024

    London

  • Oct-21-2024

    Istanbul

  • Oct-21-2024

    Rotterdam

  • Nov-25-2024

    Hamburg

  • Nov-25-2024

    Athens

  • Nov-25-2024

    London

  • Dec-16-2024

    Rotterdam

  • Dec-16-2024

    Istanbul

Course Details

Course Outline

5 days course

Introduction to laytime and demurrage

  • allocation of risk for delay between owners and charterers 
  • lack of regulatory interference
  • Meaning of laytime
  • Meaning of demurrage 
  • demurrage and dispatch
  • BIMCO Laytime Definitions 
  • Types of laytime
  • Averaged and reversible laytime

Laytime calculation

  • How to interpret "Laytime Definitions 2013" and charterparty clauses
  • The commencement of laytime
  • How to assess the duration or laytime
  • The cessation of laytime
  • How to estimate the demurrage/despatch earned
  • How to recognize fundamental differences between dry cargo and tanker laytime
  • How to make a laytime calculation of multiple charters

Demurrage, dispatch, stoppage and termination of demurrage

  • Axception clauses
  • Why laytime exceptions do not automatically
  • Apply to demurrage
  • When does demurrage stop running?
  • What remedy is there if demurrage does not apply? 
  • Axamples of cases of damages for detention.

Calculating Demurrage

  • How to define laytime and demurrage
  • How to perform demurrage calculation both for dry and wet charters
  • Consequence of incorrect choice of wording in drafting charter party clauses regarding demurrage
  • The importance of diversified interpretation of terms agreed
  • The differentiation in claims resulting from such interpretation
  • Analysing charter party clauses and documents required for calculations

Laytime, Demurrage and Despatch in Practice

  • Wet/dry cargo laytime and demurrage time calculations
  • Analysing charter party clauses and documents required for calculations
  • Dispute resolution procedures and arbitration
  • Understanding an arbitration award
  • Laytime and demurrage in chartering practice

Course Video