Laytime statement
Meaning
A laytime statement is the calculation that sets out laytime allowed, time used at each port, exceptions and the resulting demurrage or despatch.
Also written as Laytime calculation, Demurrage calculation
Laytime statement explained
The statement starts from the charter terms and the statement of facts at each port. It lists when NOR was tendered, when laytime started, every period excluded and why, and ends with total time used against time allowed.
It is the core document of a demurrage claim, and the charterer's demurrage analyst checks every line of it.
Related terms
Statement of facts
A statement of facts (SOF) is the agent's record of every event during a port call, from arrival and NOR to hoses off, used to calculate laytime.
Laytime
Laytime is the time the charterer is allowed, without paying extra, to load and discharge the cargo under a voyage charter.
Demurrage
Demurrage is the agreed daily amount the charterer pays the owner for every day the ship is kept in port beyond the laytime allowed.
Demurrage time bar
A demurrage time bar is the deadline, usually 90 days after discharge, by which the owner must present a fully documented demurrage claim.