"Demurrage" in vessel chartering is the amount of liquidated damages owed by a charterer to a shipowner when the charterer remained in possession of the vessel for the purpose of loading and unloading (laytime) beyond the time allowed by contract. That is, demurrage describes the charges that the charterer pays to the ship owner for its delayed operations of loading or unloading. Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract (the charterparty). The demurrage sometimes causes a loss to the seller as it increases cost of
"Demurrage" in vessel chartering is the amount of liquidated damages owed by a charterer to a shipowner when the charterer remained in possession of the vessel for the purpose of loading and unloading (laytime) beyond the time allowed by contract. That is, demurrage describes the charges that the charterer pays to the ship owner for its delayed operations of loading or unloading. Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract (the charterparty). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight.
The inverse of demurrage is despatch. If the charterer requires the use of the vessel for less time than the laytime allowed, the charterparty may require the shipowner to pay despatch for the time saved.
Discovered by embedding cosine similarity (sentence-transformers MiniLM, 384-dim).