demurrage

Meanings

• noun

  A charge or fee imposed on a ship or cargo for delaying the loading or unloading process beyond a specified free time.

  - "The demurrage charge for the container ship was significant due to the long delay at the port."
  - "The importer was fined a large sum for demurrage fees because the goods were not ready for loading when the ship arrived."

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Antonyms

despatch

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Variants

List of all variants of demurrage that leads to same result
demurrage , demurrages

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Etymology

origin and the way in which meanings have changed throughout history.

From the Old French word 'demorager', meaning 'to delay'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Demurrage fees can be significant - in some cases, they can amount to as much as the cost of the cargo itself.

2. The term 'demurrage' is also used in the context of real estate, where it refers to the period of time after a lease has ended during which a tenant can remain in the property and pay rent at an agreed-upon rate.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Free time: The period of time allowed for loading or unloading a ship or cargo without incurring demurrage fees.

2. Detention: A fee charged to a ship or cargo owner for keeping a vessel or container in port beyond the agreed-upon time, similar to demurrage but applied to the vessel itself.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Demurrage is an important concept in international trade and shipping, as it helps ensure that cargo is moved efficiently and on time. Delays in loading or unloading can result in significant costs for shippers and importers, making demurrage fees a crucial factor in logistics planning.

How to Memorize "demurrage"

1. visualize
   

   - Imagine a container ship waiting at a port for its cargo to be loaded. The longer the cargo takes to load, the more demurrage fees the ship owner will have to pay.

2. associate
   

   - Associate the word 'demurrage' with 'delay' and 'cost'. Remember that it is a fee charged for delaying the loading or unloading of a ship or cargo.

3. mnemonics
   

   - Use the mnemonic 'Demurrage Delay Dollars' to remember the meaning of the word. DDD stands for Delay, Demurrage, and Dollars.

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