Concepts
Maritime Concept
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Demurrage is the charge a charterer owes a shipowner for keeping a vessel at port beyond the laytime allowed in the charter party for loading or unloading cargo, calculated simply as laytime used beyond laytime allowed. The word descends from the Old French demeurage, from demeurer, to linger or tarry, and the charge exists to give the shipowner back the value of a vessel idle at berth that it would otherwise be earning at sea.
Facts
Core ConcernThe charge a charterer owes for keeping a ship at port past its allotted loading time 1 Cross-Tradition Connections
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