Despatch-All laytime saved (LTS).This expression generally means the same as “all working time saved”.
Despatch-All working time saved (WTS). This description of the time means the time saved to the owner from the completion of the loading and/or discharging until the expiry of the allowed laytime and excluding periods that are exceptions to laytime.
“Working” may be taken to mean the periods, which include the customary working hours in the port. For example, if despatch is payable on the working time saved and the number of hours saved is 72, the owners may divide this by 24 (hours per calendar day) to obtain a figure of three days’ despatch. Sundays and holidays would not usually be normal “working” time and would be excluded from time saved.
The expression generally means the same as “all laytime saved’. In this situation, if there are exceptions to laytime, these will also apply to periods for which no despatch is payable.
If despatch is payable on all working time saved, this is more advantageous to the shipowner.