Laytime
The time allowed under the charter party for the charterer to load and discharge the cargo without extra payment.
Laytime is the agreed amount of time the charterer has to complete loading and discharging operations. It is usually expressed in days, hours, or as a loading/discharge rate in tonnes per day, and begins after a valid notice of readiness and any agreed turn time.
If the charterer uses less than the allowed laytime they may earn despatch; if they exceed it, demurrage becomes payable. Calculating laytime accurately — accounting for excepted periods like weather and holidays — is a core operations skill.
On TheMaritime
Also known as: lay time, laytime allowed.
Related terms
Demurrage
A daily penalty the charterer pays the owner for using more than the agreed laytime to load or discharge.
Despatch
A payment back to the charterer for completing cargo operations in less than the allowed laytime — the mirror of demurrage.
Laycan
The window of dates within which a ship must arrive and be ready to load, or the charterer may cancel.
Notice of ReadinessNOR
The formal notice that a ship has arrived and is ready to load or discharge, which starts the laytime clock.
Charter PartyC/P
The contract between shipowner and charterer setting out the terms of hiring a vessel or carrying a cargo.
Plain-English reference definition — our own explanation of a standard shipping concept, not a licensed source or legal advice. See the full glossary or the broader maritime dictionary.
Last reviewed: June 2026.