Laycan
Laydays / cancelling
Meaning
Laycan is the window of dates in which the ship must arrive and tender notice of readiness, ending with the charterer's right to cancel.
Also written as Laydays, Laycan window, Cancelling date
Laycan explained
The first date of the laycan is the earliest day on which laytime can start; if the ship arrives earlier, the charterer does not have to begin loading. The last date is the cancelling date: if the ship has not tendered a valid NOR by then, the charterer can cancel the fixture.
Tanker laycans are typically two to three days wide on spot fixtures and are often narrowed as the date approaches, for example from a 5-day window to a 2-day window. Missing the laycan does not automatically end the charter; it gives the charterer a choice.
Example
Laycan 12–14 March: NOR before 0001 on 12 March doesn't start laytime; no NOR by 2359 on 14 March lets the charterer cancel.
Watch out for
Owners who know they will miss the laycan should ask for an extension early. Charterers who keep a ship waiting beyond the cancelling date without declaring may lose the right to cancel.
Related terms
Notice of Readiness
A notice of readiness (NOR) is the master's formal notice that the ship has arrived and is ready in every respect to load or discharge.
Laytime
Laytime is the time the charterer is allowed, without paying extra, to load and discharge the cargo under a voyage charter.
Narrowing the laycan
Narrowing the laycan means the charterer shortening a wide laycan window, as the charter allows, to a firmer arrival window closer to the date.