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Definitions from the Web

Term: Demurrage

Description:

Demurrage is a term used in maritime shipping to refer to the charges incurred when cargo is delayed at the port beyond the agreed upon time for loading or unloading. It is a fee imposed on the party responsible for the delay, typically the shipper or consignee, as compensation for occupying the port facilities for longer than allowed.

Sample Sentences:

• The shipper was hit with demurrage charges due to the delays in unloading the cargo from the vessel.
• If the cargo is not removed from the port within the allowed time, demurrage fees will be applicable.
• The local port authorities have strict demurrage policies to ensure smooth operations and prevent unnecessary delays.
• Demurrage costs can be significant, especially if there are prolonged delays caused by unforeseen circumstances.

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