noun
- Plural of demurrage; charges paid for the detention of a ship, railroad car, or other freight container beyond the allowed free time for loading or unloading.
Usage: commercial; shipping
Examples
- The shipping company charged demurrages when the cargo containers remained at the port longer than three days.
- High demurrages can significantly increase the cost of international trade.
- The importer had to pay substantial demurrages because the goods were not picked up on time.
- Demurrages are typically calculated on a daily basis after the free time period expires.
- To avoid demurrages, companies must coordinate efficient loading and unloading schedules.