Laytime and Demurrage Calculator
Compute allowed laytime from cargo quantity and rate, then determine demurrage owed by the charterer or despatch owed by the owner based on actual days used.
Fill in the cargo and rate figures to see the laytime balance.
How laytime and demurrage are calculated
Laytime is the time allowed under a charter party for loading and discharging. When the actual time used exceeds the allowed laytime, demurrage accrues. When it falls short, despatch may be payable by the owner to the charterer as a reward for quick handling:
- Allowed laytime (days) = cargo quantity (MT) / loading or discharge rate (MT/day)
- Balance = allowed laytime - actual days used
- Demurrage due = (actual days - allowed days) x demurrage rate (USD/day), when actual exceeds allowed
- Despatch due = (allowed days - actual days) x despatch rate, when actual is under allowed
- Despatch rate = half the demurrage rate (customary), full rate, or zero depending on the charter party
Half despatch on all time saved is the most common commercial basis. Full despatch and no-despatch clauses are less common but do appear in grain and ore trades. Always verify the exact wording of your charter party before settling laytime accounts.
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Results are indicative only and do not constitute financial, chartering or legal advice. Verify against your charter party terms and current market data.