Question

Explain the following chartering concept and terms

1. Laytime of laydays

2. Notice of readliness

3." Weather permitting"

4. the commencement of laytime

5. "An Arrival ship"

b. Interpret the following chartering abbreviation below

i. Concerning chartering F.I.O.S, F.I.O.T, 4,000/2,000 tons free

ii. Concerning dispatch/demurrage : DDO, DLO

iii. Concerning the ship and cargo: MOLOO, DWC, DLOSP

Answer 1

answer-

1. Laytime of laydays -

Laytime of laydays is term used in voyage charter where it means specified days assigned to voyage for loading and unloading of cargo and laytime is time allowed to voyage to load or unload cargo on the port.

If ship is failed to complete their work on laytime of laydays then they have to stay on port for longer time and face the fines.

2. Notice of readliness

Notice of readiness also called NOR is a document in which captain of the ship state that the ship is now ready for loading and unloading in every aspect. This is the legal document to start then voyage operation to load and unload cargo.

3." Weather permitting"

It is the term specified in voyage charter that when weather conditions do not allow loading or discharging operations then it will not be counted in laytime.

4. the commencement of laytime

the commencement of laytime is the condition to notify or commence that cargo is arrived at the port on specified laytime in the voyage charter.The ship must be present legally and physically where master have the tender notice of readiness that must be true and valid.

5-arrival ship-

This the term used to identify the ship is arriving at the port for loading and unloading operation legally.