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Tag Archives: demurrage

DEMURRAGE VERSUS DESPATCH MONEY

detention of charges

     Demurrage in vessel operations refers to the amount paid by the charterer of a ship as a compensation to the ship owner for any damage that may occur due to the charterer’s inability to complete operations on a vessel (loading and offloading) within the allowable period (lay-days). In a charter party , when a ship owner makes his vessel ...

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