The time allowed for unloading and loading a ship is referred to as

The time allowed for unloading and loading a ship is referred to as "lay days". When a ship is hired for transporting goods, the contract specifies the number of days the ship will be allowed to load and unload its cargo at the port. These days are known as "lay days". The lay days are important as they determine the amount of time the ship will be available for other work, and also the amount of money that will be paid for any time spent beyond the agreed lay days. This payment is called "demurrage". "Charter party" is a legal contract that defines the terms and conditions of the hiring of a ship. It includes the lay days, demurrage, and other details of the agreement. "Charter by demise" is a type of charter where the owner of the ship leases it to the charterer for a long period, and the charterer has full control and responsibility for the ship during that time.