Calculate Laytime

A key activity is the processing of laytime calculations based on the executed charter party, alternatively by using the base charter party and the recap. We have the ability to provide an external audit check so that your company can select any number of fixtures and completed laytime calculations, so they can be verified. Whilst hopefully we will agree with whoever prepared the calculations, there is always a possibility that genuine errors have been made, or worse, there is collusion with a counterparty in exchange for personal benefits. We have worked with several trading houses and in shipowners’ offices and noted that even leading auditors do not dig deeply into checking laytime. Our assumption is some do not know how to do the calculation, so simply compare the invoice {demurrage} or credit note {dispatch} with the calculation that appears to be acceptable to them. Actually, it is not, a random sample of completed calculations from a variety of voyages prepared by different staff members need to be interrogated. This will provide a statistical model that will indicate an acceptable level of compliance is being maintained, or if an improvement is required. If an improvement is needed, we will be in a position to assist with this by further regular follow up, as required.