View example sentences, synonyms and word forms for Demurrage.
Demurrage
Demurrage meaning
the detention of a ship or other freight vehicle, during delayed loading or unloading | compensation paid for such detention | a charge made for exchanging currency for bullion
Example sentences (14)
The regulator also warned that the suspension of demurrage charges is not an excuse to delay or abandon cargo at the ports, adding that erring shippers will be sanctioned in addition to having to pay the demurrage due on their cargoes.
By Nick Savvides (The Loadstar) – A US Federal Maritime Commission small claims officer’s (SCO) decision to uphold trucker TCW Inc’s complaint over detention and demurrage (D&D) charges by Taiwan carrier.
A Licensed customs agent confirmed paying 80 percent demurrage on goods that were not cleared during the COVID-19 lockdown.
Demurrage and rent payments have become the norm with no respite in sight.
He said that the company was negotiating on demurrage charges “which is so huge”.
In the case of these tankers, they are sustaining heavy demurrage charges every day they stay at sea without offloading.
That is not to speak of the demurrage that we have to pay to ship owners for keeping their vessels longer than expected.
He stressed that factors including fuel subsidy, debt servicing, and demurrage among other economic policies which he described as “unfavourable economic policies,” are consuming revenue of the nation.
In spite of the valid case of negligence by TICT and the obvious financial losses they have caused the consignee and freight forwarder, they arrogantly went ahead to demand that there must be demurrage payment, even though they caused the all the delay.
The financial implications became more striking because the Nigerian government was liable to pay demurrage fees by the shippers.
Mr. Maihaja, while appearing on Thursday before the committee, admitted that his agency has so far paid N400 million as part of the demurrage.
This has forced airlines into using tankers to convey fuel to the airport with the attendant cost of bridging and demurrage, apart from other charges paid to access the airport.
We talk about all the different definitions of the word demurrage that are related to shipping.
Gold or other metals are sometimes used in a price system as a store of perceived value that does not break down due to environmental deterioration and that can be easily stored ( demurrage ).