Glossary
Demurrage
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The cost of keeping a vessel, truck, or container at a port or warehouse beyond the allotted time.
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What is Demurrage?
Demurrage refers to a fee charged by a carrier when the cargo is not loaded or unloaded within the agreed-upon time frame. This fee compensates the carrier for the cost of using their equipment and resources beyond the original agreed-upon period. Demurrage charges are typically assessed based on a daily rate, and they can be quite expensive, especially when the delay is significant.
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