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This page provides a list of definitions, for any table items related to 'Demurrage' that you may encounter in MAF Cloud.

Demurrage ('Demurrage' from the navigation sidebar on the left)

TABLE OF CONTENTS:

Demurrage Claims

Term	Description	Example
Claim ID	Reference number for claim (auto-generated in MAF Cloud)	63237
Deal No./Shipping No.	Reference number from the company, which links to related physical trades (buy and sell) and ship chartering	123
Contract No.	Contract number of physical trade or ship chartering	2019ABC12345
Pairing	Property of claim to help user monitor the correct number of claims: Back-to-Back: 2 pairing claims should be shown in the Demurrage table, with 1 being 'payable' and the other being 'receivable'. If there is only 1 claim, it is unusual and requires investigation. If it is stock, will only have 1 claim. If it is owner claim, there should be at least 3 claims - 1 from shipping owner and 2 to counterparties. So with this value, it will be easier for user to monitor their claims and prevent any claims from being missed out. Stock In/Out: Put oil into storage or take oil out from storage (tankage). For instance, buy oil and store into tankage (stock in) or sell oil from tankage (stock out)	Back-to-Back Stock In/Out
OPS Performance	Indicator for tracking Operations team's data entry timing	Late On Time
Group	Company (MAF Cloud user)'s trading group(s), if any	G2
Type of Claims	Type of claim that either of the parties involved are claiming for	Demurrage, Deviation, Deslopping costs
Vessel	Name of vessel	Vessel 1
CP/BL Date	CP Date: Charter Party Date BL Date: Bill of Lading Date	2020-03-06
Company Name (Claimee)	Name of company ('To' Company ABC) eg to Ship Owner Company; Owner; Payable *Please note that this item will switch with "Claimer" if data is input via MAF Link	ABC Pte Ltd
Freight Beneficiary Name	Name of freight beneficiary	ABC Pte Ltd
Company Type	Owner: Ship Owner Counterparty: The other party involved	Counterparty
Claimer	Name of company ('From' Company XYZ) *Please note that this item will switch with "Company Name (Claimee)" if data is input via MAF Link	XYZ Pte Ltd
Timebar Reference Date	Timebar Start Date	Hose Off/BL Date 2020-03-06
Notification No. of Days	No. of days after Timebar Reference Date that timebar will expire	15
Notification Timebar Date	Last day to issue notification/send claim to claimee	2020-03-27
Upcoming Notification Timebar	Number of days (from Today) until Notification Timebar Date is due	10
Full Claim No. of Days	No. of days after Timebar Reference Date that full claim must be made	20
Full Claim Timebar Date	Last day to make full payment of claims to claimee	2020-03-27
Claim Date	The day the claim is made	2020-03-20
Outstanding Days	Outstanding claim days from today's date to Claim Date	7
Currency	Settlement currency of claim	USD
Initial Amount	Initial amount payable/receivable	100,000
Final Amount	Final amount payable/receivable	150,000
Value Date	Payment Date	2020-03-20
Payable/Receivable	Payable: Billed amount is payable Receivable: Billed amount is receivable *Please note that this item will switch with one another if data is input via MAF Link	Payment
Status	Status of the claim	Pending
Broker	Name of broker	ABC
Ports	Loading or discharge port	Singapore
Remarks	Any additional comments	-

Demurrage Calculations → General Information

Term	Description
Deal No./Shipping No.	Reference number from the company, which links to related physical trades (buy and sell) and shipping chartering	123456
Contract No.	Contract number of physical trade or ship chartering	111111
Group	Company (MAF Cloud user)'s trading group(s), if any	G2
Status	Status of the claim	Pending
Currency	Settlement currency of claim	USD
Initial Amount	Initial amount payable/receivable	100,000
Final Amount	Final amount payable/receivable	150,000
Payable/Receivable	Payable: Billed amount is payable Receivable: Billed amount is receivable *Please note that this item will switch with one another if data is input via MAF Link	Payable Receivable
Company Name (Claimee)	Name of company ('To' Company ABC) eg to Ship Owner Company; Owner; Payable *Please note that this item will switch with "Claimer" if data is input via MAF Link	ABC Pte Ltd
Company Type	Owner: Ship Owner Counterparty: The other party involved	Counterparty
CP or BL Date	CP Date: Charter Party Date BL Date: Bill of Lading Date	2020-03-06
Pairing	Property of claim to help user monitor the correct number of claims: Back-to-Back: 2 pairing claims should be shown in the Demurrage table, with 1 being 'payable' and the other being 'receivable'. If there is only 1 claim, it is unusual and requires investigation. If it is stock, will only have 1 claim. If it is owner claim, there should be at least 3 claims - 1 from shipping owner and 2 to counterparties. So with this value, it will be easier for user to monitor their claims and prevent any claims from being missed out. Stock In/Out: Put oil into storage or take oil out from storage (tankage). For instance, buy oil and store into tankage (stock in) or sell oil from tankage (stock out)	Back-to-Back Stock In/Out
Vessel	Name of vessel	Vessel 1
Broker	Name of broker	ABC
Inco Terms	Set of internationally recognised rules which define the responsibilities of the buyers and sellers	FOB CFR CIF
Allowed Laytime (Hrs)	Amount of time allowed in a voyage charter for the loading and unloading of cargo. Used to off-set from Total Gross Laytime Used to reduce overall costs	72
Demurrage Rate (PDPR)	Amount of fee charged per day for laytime on demurrage	10,000
Cargo Quantity	Quantity of cargo	1,000
Unit	Unit of cargo	Barrels
Discount (%)	Discount on demurrage amount	10
Address Commission (%)	Commission payable by the shipowner to the charterer, a form of reimbursement to the charterer for any costs incurred relating to the chartering of the vessel	2%
Cargo Qty (under Proration)	Cargo quantity in ship (owned by charterer)	10,000
Total Cargo Qty or SDWT (under Proration)	Total cargo quantity or full capacity of ship	100,000
Proration Mode	Prorated on Time on Demurrage or Total Gross Laytime Used based on ratio of Cargo Qty and Total Cargo Qty or SDWT	Time on Demurrage
Ratio (%)	Cargo Qty * 100 / Total Cargo Qty or SDWT	10%
Internal Comments	Comments that can be viewed internally only and not reflected in the Demurrage Reports

Demurrage Calculations → Calculation Information

Term	Description	Example
Port Details	LoadPort: Port of Loading DisPort: Port of Discharge	LoadPort
	Name of Port	Singapore
	No. of Berth
Laycan Start	Earliest time of laycan period	2019-12-24 00:00
Laycan End	End time of laycan period at which laytime can commence, beyond which the charterer can opt to cancel the charter	2019-12-30 12:00
NOR	Time at which the ship arrived at the port and delivered Notice of Readiness (for loading/unloading)	2019-12-25 00:55
Anchor Aweigh	Time at which the ship began moving into the port	2019-12-27 00:55
All Fast	Time at which the ship is completely moored (secured) in port	2019-12-27 03:55
Hose Off	Time at which loading/unloading is completed	2019-12-28 12:30
Escalation Rate (PDPR)	Increment on demurrage rate per day claimed by ship owner pursuant to the ‘stop and wait’ clause on extra time taken	3,000
Escalation Time (Hrs)	Maximum allowed time for ship owner to 'stop and wait'. Used to off-set from Net Laytime Hrs to reduce overall costs	168
Allowed Laytime Balance (Hrs)	Amount of time allowed in a voyage charter for the loading and unloading of cargo. Used to off-set from Net Laytime Hrs to reduce overall costs	10
Document on Board (DOB)	Time at which shipping documents are finalised	2019-12-28 14:00
DOB Allowance (Hrs)	Time allowed between Hose Off and Document on Board in hours (before charges are incurred)	6
Laytime Start Time Formula Type	Berth Time: Time at which the ship is berthed in port Min of Nego Time vs Berth Time: Negotiated time or berth time, whichever is earlier	2019-12-28 12:30
Nego Time	Valid NOR: Time at which the ship arrived at the port and delivered Notice of Readiness (for loading/unloading) Valid Laycan Start: Earliest time of laycan period	2019-12-28 14:00
Extension	Time allowed from Valid NOR in hours (before charges are incurred)	6
Berth Time	All Fast: Date when the ship is completely moored in port Commencement of Loading: Date when loading of goods commences Commencement of Discharge: Date when discharge of goods commences	All Fast

Determining whether the situation is before laycan, within laycan or after laycan:

Owner & Counter Party:
Before laycan: NOR < 1st Day Laycan 0001
Within laycan: 1st Day Laycan 0001 < NOR < Last Day Laycan Time
After laycan: Last Day Laycan Time < NOR

Starting Time

Owner:
Before laycan: All Fast vs (1st day laycan 0001 or 1st day laycan 0600)
Within laycan: All Fast vs NOR+6hrs
After laycan: All Fast vs NOR+time

Counter Party:
Before laycan: All Fast vs (1st day laycan 0600 or 1st day laycan 0001)
Within laycan: All Fast vs NOR+6hrs
After laycan: All Fast or All Fast vs NOR+time

End Time

Hose Off

Definitions of the Operators (Mathematical Symbols)

The 'Operators' can be found in the first column of the 'Calculation Summary' section for relevant functions.

All the operators and values are automatically generated according to the function you use (e.g. proration, escalation etc). You are also free to change the operator and key in other value in the box under the 'Adjustment column', and the value will be calculated automatically.

%: Adjustment as a percentage of previous value*

+ : Adjustment is added to previous value*

- : Adjustment is subtracted from previous value*

% & +: (1 + Adjustment) as a percentage of previous value*

% & -: (1 - Adjustment) as a percentage of previous value*

*Previous value refers to the value in the row above the adjustment in the current row.

Demurrage ('Demurrage' from the navigation sidebar on the left)

Demurrage Claims

Demurrage Calculations → General Information

Demurrage Calculations → Calculation Information

Definitions of the Operators (Mathematical Symbols)

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