Demurrage meaning

dĭ-mûrĭj, -mŭr-
Demurrage is defined as money paid to a chartered freight carrier if the vehicle or ship is delayed, or a delay in cargo loading causing a late departure.

When a ship is not loaded on time as promised, this is an example of a time when demurrage would be paid.

When a truck leaves late because the cargo was loaded late, this is an example of demurrage.

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Detention of a ship, freight car, or other cargo conveyance during loading or unloading beyond the scheduled time of departure.
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Compensation paid for such detention.
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The compensation payable to a carrier of freight whose vehicle or vessel is delayed, as by failure to load or unload the freight within the time allowed.
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The delay itself.
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The detention of a ship or other freight vehicle, during delayed loading or unloading.
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Compensation paid for such detention.
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A charge made for exchanging currency for bullion.
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Origin of demurrage

  • Surface etymology is demur (“delay”) +‎ -age, with doubled ‘r’ to clarify pronunciation and avoid ambiguity with demure.

    From Wiktionary

  • 1640s, from Old French demorage, from demorer (English demur), from Latin demorari (“to tarry”).

    From Wiktionary