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Dispatcher Money

What is a Dispatcher Money?

Dispatcher money is an incentive given to a charterer by a shipowner to encourage the charterer to spend as less time as possible when loading or unloading a chartered vessel. Usually, the charterer gets a laytime, agreed on the contract, for loading or unloading any rented vessel.

Where the given time lapses, without handling back the vessel, the charterer will be subjected to a fine. With the dispatcher money, the charterer gets paid for quickly loading or unloading the the rented vessel.