Working Time Saved

GLOSSARY

WTS(Working Time Saved )

Working Time Saved (WTS). If the cargo operations are completed within the laytime allowed to the charterer, despatch can become payable to him. The despatch clause in the charterparty specifies how this despatch is to be calculated.

What is WTS(Working Time Saved )?

If it is expressly based on working time saved, ox “laytime saved”, this works to the owners’ benefit because it excludes the effect of periods excepted from laytime, such as Sundays and holidays. Despatch on working time saved can be less than that calculated on “All time saved”, which is to the charterers advantage. If the charterparty does not specify how despatch is to be calculated, it is assumed that it is based on “all time saved”.

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