Definition of demurrage in English:

demurrage

noun

Law
  • [mass noun] A charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.

    • ‘The shipowner could earn more at less risk by making sure there were demurrage clauses in the charter party.’
    • ‘Importers must also pay shipping companies demurrage, which is a charge imposed to cover the time between the arrival of its vessel and the return of its container delivered at the port.’
    • ‘These agreements stipulated that the ships would be inspected by government officials, that they would sail in convoy and that demurrage would be paid in the event of delay.’
    • ‘Were a port to be built adequate for large vessels, would it be able to handle the steamer traffic, which could allow only a few hours to load and unload without incurring demurrage costs?’
    • ‘How long is a ship obliged to remain on demurrage, and what are the rights of the owner if the charterer detains her too long?’

Origin

Mid 17th century (also in the general sense ‘delay’): from Old French demourage, from the verb demourer (see demur).

Pronunciation:

demurrage

/dɪˈmʌrɪdʒ/