What does demurrage mean?

Definitions for demurrage
dɪˈmɜr ɪdʒde·mur·rage

Here are all the possible meanings and translations of the word demurrage.

Princeton's WordNet

  1. demurrage(noun)

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

  2. demurrage(noun)

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

Wiktionary

  1. demurrage(Noun)

    the detention of a ship or other freight vehicle, during delayed loading or unloading

  2. demurrage(Noun)

    compensation paid for such detention

  3. demurrage(Noun)

    a charge made for exchanging currency for bullion

Webster Dictionary

  1. Demurrage(noun)

    the detention of a vessel by the freighter beyond the time allowed in her charter party for loading, unloading, or sailing

    Etymology: [Cf. OF. demorage delay. See Demur.]

  2. Demurrage(noun)

    the allowance made to the master or owner of the ship for such delay or detention

    Etymology: [Cf. OF. demorage delay. See Demur.]

Freebase

  1. Demurrage

    The term demurrage originated in vessel chartering and refers to the period when the charterer remains in possession of the vessel after the period normally allowed to load and unload cargo. By extension, demurrage refers to the charges that the charterer pays to the shipowner for its extra use of the vessel. Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract. 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. After the laytime has expired and the vessel is on demurrage, no exceptions or interruptions to laytime are relevant, even during force majeure events such as strikes, etc. This is based on the principle that if the charterer had completed loading or discharging within the agreed laytime, the vessel would have left the port before the force-majure event could intervene; hence, the thumb rule once on demurrage, always on demurrage.

Dictionary of Nautical Terms

  1. demurrage

    The compensation due to a ship-owner from a freighter for unduly delaying his vessel in port beyond the time specified in the charter-party or bill of lading. It is in fact an extended freight. A ship unjustly detained, as a prize, is entitled to demurrage. Vessels chartered to convey government stores have a term given for discharge by government aid. If not delivered within that period, demurrage, as stated in the document, is paid per diem for any "unavoidable delay."

How to pronounce demurrage?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say demurrage in sign language?

  1. demurrage

Numerology

  1. Chaldean Numerology

    The numerical value of demurrage in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of demurrage in Pythagorean Numerology is: 2

Images & Illustrations of demurrage

  1. demurragedemurragedemurragedemurragedemurrage

Popularity rank by frequency of use

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Translations for demurrage

From our Multilingual Translation Dictionary

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