demurrage

American  

[dih-mur-ij] / dɪˈmɜr ɪdʒ /

noun

Commerce.

1. the detention in port of a vessel by the shipowner, as in loading or unloading, beyond the time allowed or agreed upon.

2. the similar undue detention of a railroad car, truck, etc.

3. a charge for such undue detention.

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demurrage British  

/ dɪˈmʌrɪdʒ /

noun

1. the delaying of a ship, railway wagon, etc, caused by the charterer's failure to load, unload, etc, before the time of scheduled departure

2. the extra charge required as compensation for such delay

3. a fee charged by the Bank of England for changing bullion into notes

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Etymology

Origin of demurrage

First recorded in 1635–45; demur + -age

Example Sentences

The Ocean Shipping Reform Act of 2022 requires ocean carriers to certify that late fees — known as “demurrage and detention” charges — comply with federal regulations.

From Seattle Times

After a container sits at the terminal for a certain number of days, shipping companies begin charging end customers a rental fee for using their box, a charge called demurrage in the industry.

From Los Angeles Times

Port of Vancouver said it expects vessels to anchor longer while they await delayed cargo, a situation that usually results in shippers paying demurrage for the extra wait.

From Reuters

The White House in a competition executive order issued July this year encouraged the commission to “vigorously enforce the prohibition of unjust and unreasonable practices in the context of detention and demurrage.”

From Reuters

This summer, the Federal Maritime Commission said it would audit these “demurrage” billings by the top nine ocean carriers, following complaints from shippers about exorbitant charges.

From Washington Post