In response to the previous thread find my answer below
Good answers everyone.
Unfortunatley the shipowners cannot walk away if they are missing cancelling. Only the charterers can. So 99 percent of the time the owners "dont want to be late". They lose all power.
Plus if the market does rise - why would the charterer not accept the ship a little late? 99 percent of the time they will.
In the above situation the charterers could be happy for a number of reasons...
1. The market has dropped. But alas - this is not enough. For this to be good for the charterers we need the market to drop but we also need another ship! On many occassions when a ship does miss cnacelling - there are no alternative ships due to the prompt nature of the situation.
2. Maybe the charterer has had trouble accumulating cargo at the loadport. There may also be congestion at the loadport...for all these reasons it is advantageous for the charterer is the ship runs late. They will still accept the ship but they will limit possible demurrage claims due to making the ship wait before loading.
Hope this makes sense. Any questions just shoot (from the hip)!
Thanks to all for the contributions.
- The Virtual Shipbroker
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