What is Laycan?
Laycan is a portmanteau of "Laydays" and "Canceling Date" — it refers to the agreed window of dates within which a vessel must arrive and tender a Notice of Readiness (NOR) at the loading port under a voyage charter party. The laycan establishes both when the laytime will start (layday) and the final date after which the charterer has the right to cancel the charter (canceling date).
Laycan Example
A charter with "Laycan 15/20 March" means the vessel must arrive and be ready at the load port between March 15 and March 20. If the vessel arrives before March 15, laytime does not start. If the vessel has not arrived by March 20, the charterer has the right to cancel.
