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demurrage
[ dih-mur-ij ]
noun
- the detention in port of a vessel by the shipowner, as in loading or unloading, beyond the time allowed or agreed upon.
- the similar undue detention of a railroad car, truck, etc.
- a charge for such undue detention.
demurrage
/ »åɪˈ³¾ÊŒ°ùɪ»åÏô /
noun
- the delaying of a ship, railway wagon, etc, caused by the charterer's failure to load, unload, etc, before the time of scheduled departure
- the extra charge required as compensation for such delay
- a fee charged by the Bank of England for changing bullion into notes
51³Ô¹Ï History and Origins
Origin of demurrage1
51³Ô¹Ï History and Origins
Origin of demurrage1
Example Sentences
The Ocean Shipping Reform Act of 2022 requires ocean carriers to certify that late fees — known as “demurrage and detention†charges — comply with federal regulations.
After a container sits at the terminal for a certain number of days, shipping companies begin charging end customers a rental fee for using their box, a charge called demurrage in the industry.
Port of Vancouver said it expects vessels to anchor longer while they await delayed cargo, a situation that usually results in shippers paying demurrage for the extra wait.
The White House in a competition executive order issued July this year encouraged the commission to “vigorously enforce the prohibition of unjust and unreasonable practices in the context of detention and demurrage.â€
This summer, the Federal Maritime Commission said it would audit these “demurrage†billings by the top nine ocean carriers, following complaints from shippers about exorbitant charges.
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