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Status: blockedCLUSTERNovorossiysk-Turkish-Med Dark Fleet Cluster added — confirmedStatus: blockedCLUSTERPinnacle Petrol LLC added — likelyStatus: blockedCLUSTERSimar Chahal added — confirmedStatus: blockedCLUSTERSSW Kafcima added — likelyStatus: blockedCLUSTERNW Corp Singapore added — likelyStatus: pendingCORPUS429 entities · 64 countries
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Shipping & logisticsdemurrage

Demurrage

The penalty paid by the charterer when loading/discharging takes longer than allowed laytime.

Demurrage is the penalty the charterer pays to the shipowner when loading or discharging exceeds the allowed laytime. Rates are agreed in the charterparty (typically USD/day).

Demurrage costs flow through the SPA back to buyer or seller depending on who holds the vessel risk in the delivery basis (FOB = buyer, CFR/CIF = seller).

Related: Laytime, Charterparty.

See also

laytimecharterparty

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