Advanced Laytime And Demurrage Masterclass

Workshop Overview

In commercial shipping, laytime is the amount of time allowed, in hours or days, in a voyage charter for the loading and unloading of cargo. If the laytime is exceeded, demurrage is incurred. Demurrage here is the charge payable to the owner of a chartered ship in respect to failure to load or discharge the ship within the time agreed. If the whole period of laytime is not needed, dispatch may be payable by the ship owner to the chartered, depending on the terms of the charter party. The dispatch, though, does not apply to tanker charters.

The shipping adventure, namely the voyage performed for the carriage of cargo, involves four separate parts: the loading voyage (ie. the passage in ballast to the port of loading); the loading operation; the carrying voyage; and the discharging operation. The two voyage stages require acts of performance by the ship-owner alone and do not concern the charterer — it is the ship-owner that bears the primary risk. The other two stages in the loading and discharging ports require acts of performance by both the ship-owner and the charterer, and it is the interplay of these which has given rise to so many disputes under the general heading of Laytime and Demurrage.

Laytime is a very practical subject but it also causes many legal disputes. Thus it is essential to keep up-to date with the relevant law cases which will be presented during this session and the following ones during the seminar.

Key benefits of attending this workshop

By end of the course, delegates will be able to:

  • GAIN an in-depth understanding of fundamental practices and concepts of Laytime and Demurrage
  • EXPAND the knowledge and GAIN invaluable insight into contractual issues in both wet and dry sectors
  • CHOOSE your cargo type, analyse various calculation exercises of dry or wet Laytime
  • SECURE understanding of Laytime clauses in a Charter Party including Commencement, End & Exceptions to Laytime
  • BECOME skilled at Laytime and Demurrage Calculations in a workshop setting
  • Be GUIDED through the complexities of advanced Laytime & Demurrage Calculations
  • ENSURE your calculations are correct and to your advantage
  • ANALYZE recent case studies to understand practical application of theoretical knowledge in this are
  • GAIN practical expertise in post-fi xture strategies from our panel of expert speakers
  • EXAMINE dispute resolution mechanisms including the use and importance of arbitration, mediation and conciliation
  • RECEIVE an advanced analysis of Laytime & Demurrage

Who Should Attend?

This event has been specifically designed for:

  • Charterers, Chartering Agents
  • Chartering, Cargo & Ship Brokers
  • Demurrage Negotiators
  • Commodity Traders
  • Cargo, Port & Terminal Supervisors
  • Arbitrators & Consultants in Chartering
  • Shipowners & Managers
  • Claims Handlers & Adjusters

Why You Should Attend?

Reduced training budgets need not imply reduced organizational training. In fact, in challenging times like these, skilling and re-skilling of the workforce is critical. Laytime and Demurrage are perhaps the two most litigious aspects of chartering vessels and has been the subject of numerous disputes over the years. This training programme is uniquely designed to focus on the complexities of Laytime and Demurrage, gaining practical expertise and knowledge to understand and analyse contractual issues and post-fi xture strategies.

Delegates will have the opportunity to gain precious insight and first-hand knowledge from our expert. This highly interactive training program will cover the topics of Laytime & Demurrage starting from refreshing the basics to advanced level including commencement and calculation of Laytime, exceptions and interruptions, calculation of Demurrage and issues with any claims. The emphasis is on sound commercial practice and practical decision making, drawing on the working knowledge and experience of the course presenters. The course includes case studies and workshops which are designed to ensure participants maximum use of the knowledge gained.