INTRODUCTION
• There are two main contracts of affreightment:
– Charterparties (contract for the use of the
whole or large part of the vessel)
– Bills of lading / sea waybills (contract for
carriage of individual parcels of cargo)
DEFINITION OF CHARTERPARTIES
Bareboat/demise charterparties
Voyage charterparties
Time charterparties
1. Bareboat charterparties
**Demurrage:
A liquidated damages clause in a voyage charterparty for all time
used in loading or discharging cargo from the vessel after the expiry
of laytime.
Demurrage is calculated as an agreed rate per day.
**Laytime:
The contractual time or period of time given by the shipowner or carrier
to a voyage charterer for the loading or discharging of the cargo.
It is the period the shipowner or carrier undertakes to make and keep
the vessel available for loading or discharging without payment
additional to the freight.
When Does Laytime Start to Run?