Laytime

Laytime is the time agreed in a voyage charterparty during which the shipowner makes the vessel available to the charterer for loading and discharging without additional payment beyond the freight. It can be expressed in days or hours (“72 hours SHINC”) or as a loading rate (“10,000 mt per weather working day”).

Laytime normally starts to count after the vessel has arrived at the agreed destination, is ready to load or discharge, and a valid notice of readiness has been tendered — with common variations negotiated through terms like WIBON (“whether in berth or not”).

Charterparties define which periods count against laytime using well-known abbreviations:

• SHEX — Sundays and holidays excepted
• SHINC — Sundays and holidays included
• WWD — weather working days (time lost to weather does not count)

If the charterer uses more than the allowed laytime, demurrage becomes payable; if less, the charterer may earn despatch.