Despatch in chartering terms is best described as

Despatch in chartering terms is best described as

• A. Despatch
• B. Laytime
• C. Demurrage
• D. Bonus

Answer: (A)

Despatch is the money paid by the shipowner to the charterer when loading or unloading is completed before the agreed laytime expires. It serves as a reward for operating efficiently and finishing early. The amount is calculated at the despatch rate, usually aligned with the hire rate per day, for each day of unused laytime. It sits opposite demurrage, which is charged when laytime is exceeded. A brief example: if laytime is 6 days and loading finishes in 4, two days are saved, so despatch would be 2 days multiplied by the daily rate. The term “bonus” isn’t the standard label in this context; the precise term is despatch.

Despatch is the money paid by the shipowner to the charterer when loading or unloading is completed before the agreed laytime expires. It serves as a reward for operating efficiently and finishing early. The amount is calculated at the despatch rate, usually aligned with the hire rate per day, for each day of unused laytime. It sits opposite demurrage, which is charged when laytime is exceeded. A brief example: if laytime is 6 days and loading finishes in 4, two days are saved, so despatch would be 2 days multiplied by the daily rate. The term “bonus” isn’t the standard label in this context; the precise term is despatch.