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- Dictionarydemurrage/dɪˈmʌrɪdʒ/
noun
- 1. a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.
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Fees in logistics
"Demurrage" in vessel chartering is the period when the charterer remained in possession of the vessel after the period normally allowed to load and unload cargo (laytime). By extension, demurrage refers to the charges that the charterer pays to the ship owner for its delayed operations of loading/unloading. Officially, demurrage is a form of liquidated damages for breaching the laytime as it is s... Wikipedia