Definitions for "Laytime"
Time allowed for loading or unloading of cargo.
time allowed by the shipowner to the voyage charterer to carry out the cargo loading and/or discharging operations; laytime may be expressed as a certain number of days or number of tons of cargo loaded/unloaded per day
A specific number of hours, named in the pertinent charter party, a tanker must prepare to spend on berth at the shipowner's expense. Details vary from one fixture to another. Usually, though, owner and charterer agree on a total laytime for a voyage which must accommodate loading and discharge. The charterer pays for any hours over that number as demurrage.