GLOSSARY

Non Reversible Laytime

Non reversible laytime means the laytime is separately calculated and despatch/demurrage is payable separately for loading and discharging ports.

What is Non Reversible Laytime?

Lay time is the time allowed to the Charterer for loading and discharging. Therefore laytime would normally be calculated separately for loading and for discharging. Demurrage and despatch would also be calculated separately. If the Charterer wants the option to add together the time allowed for discharging and loading as a total time for both operations, this category of laytime is known as “reversible” laytime. If it is clear from the charterparty that laytime is to be separately calculated and despatch/demurrage is payable separately for loading and discharging ports, then laytime is “non-reversible”.

Learn More

Related Articles:

Related Terms: