Demurrage or Demourage ( German demurrage ) is in the shipping industry, the payment of the charterer to the shipper if that agreed in the charter party for loading or unloading time of a cargo ship is exceeded. The amount of demurrage is agreed between charterers and shippers in the respective charter party.
For faster as agreed in the charter party loading or unloading of the ship, a Despatch or Detention (German Eilgeld ) shall be agreed remuneration.
For a corresponding compensation in the IWT see the Regulation on the loading and unloading times, and the demurrage in the inland navigation ( BinSchLV ).
- Law of the Sea
- Transport Law