Maritime Glossary
Dispatch
Also known as: despatch
A reward paid by the shipowner to the charterer for completing cargo operations faster than the allowed laytime.
Status: ActiveVerified: Source confidence: high (95%)
Full Definition
Dispatch (despatch) money is payable when a charterer completes loading or discharging in less than the allowed laytime. The rate is typically half the demurrage rate. Dispatch is calculated on 'all time saved' (ATS) or 'working time saved' (WTS) depending on charter-party wording. It incentivises efficient port operations.
Domain Tags
commercialchartering