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Legal Terms – demurrage
Liquidated *damages due under a charterparty for any days (demurrage days) needed to finish loading or unloading cargo after the *lay days have passed. These damages are payable at a set daily rate. In the absence of lay days, the term is also frequently used to refer to the unliquidated damages to which the shipowner is entitled if the ship is delayed for loading or unloading for an extended period of time
Liquidated *damages due under a charterparty for any days (demurrage days) needed to finish loading or unloading cargo after the *lay days have passed. These damages are payable at a set daily rate. In the absence of lay days, the term is also frequently used to refer to the unliquidated damages to which the shipowner is entitled if the ship is delayed for loading or unloading for an extended period of time
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