Demurrage meaning
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.
noun
Detention of a ship, freight car, or other cargo conveyance during loading or unloading beyond the scheduled time of departure.
noun
Compensation paid for such detention.
noun
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.
noun
The delay itself.
noun
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