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What is demurrage?

MCA Oral Exam Questions
Typography

A sum of liquidated damages which becomes payable by charterers to owners for each day, or part thereof if stipulated, that the ship is detained beyond the time of expiry of laytime. 

A Demurrage Clause may state the number of days and the rate payable, usually in US dollars per day. Demurrage is normally paid per running day, i. e. without exclusion of any Sundays, holidays, or bad weather, strikes, etc., occurring during the detention period - hence the well- known expression "once on demurrage, always on demurrage". However, running of demurrage can be interrupted in the event that there is fault on the part of owners or their servants or agents, and also if the charter party so provides.

 

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