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demurrages

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Definitions of demurrages in various dictionaries:

noun - a charge required as compensation for the delay of a ship or freight car or other cargo beyond its scheduled time of departure

noun - detention of a ship or freight car or other cargo beyond its scheduled time of departure

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Possible Dictionary Clues
Plural form of demurrage.
bDefinitionb of bDEMURRAGEb. 1. : the detention of a ship by the freighter beyond the time allowed for loading, unloading, or sailing. : a charge for detaining a ship, freight car, or truck.
A charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.

Demurrages might refer to
The term "Demurrage" from Old French demeurage, from demeurer - to linger, tarry - originated in vessel chartering and referred to 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 a it is stated in the governing contract (the charter party). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight.The reverse of demurrage is despatch. If the charterer requires the use of the vessel for less time than the laytime allowed, the charter party may require the shipowner to pay despatch for the time saved.

Demurrages might refer to

The term "Demurrage" from Old French demeurage, from demeurer - to linger, tarry - originated in vessel chartering and referred to 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 a it is stated in the governing contract (the charter party). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight.The reverse of demurrage is despatch. If the charterer requires the use of the vessel for less time than the laytime allowed, the charter party may require the shipowner to pay despatch for the time saved.

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