Charter party messages and market reports sometimes refer to a “laycan” or “lay/can” period. What is this?

“Laycan” is a contraction of “laydays and cancelling date”. For example, a laycan or lay/can (abbreviation: L/C) of “18/22 Jan” would mean that the first layday is 18 January, and the final layday, or cancelling date, is 22 January.

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