Laytime and Demurrage
Laytime definitions for charter parties 2013 BIMCO special circular no. 8 dated 10 September 2013
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 advance or delay the commencement of laytime and mean the difference between demurrage starting on Friday afternoon or the following Monday morning.