Laycan (Laydays/Cancelling Date)

Laycan (Laydays/Cancelling Date) is a key term in shipping charter parties, referring to the date range within which the vessel must arrive at the designated loading port and be ready to load. It consists of two dates: the earliest layday (Laydays) and the latest layday (Cancelling Date). If the vessel arrives before the earliest layday, the charterer has the right to refuse loading; if it arrives after the latest layday, the charterer has the right to cancel the contract. Laycan is widely used in voyage charters and time charters and is an important basis for the charterer to arrange cargo, berths, and inland transport. Notes: Laycan is usually closely related to the Cancelling Date, but the Cancelling Date refers only to the final deadline; Laycan refers to a period. Unlike the 'Shipment Period', Laycan concerns the vessel's arrival, while the Shipment Period concerns completion of loading the cargo. In addition, Laycan is affected by weather, port congestion, and other factors, so the charterer should allow buffer time and clearly specify notice obligations and demurrage clauses in the contract.