Demurrage
A fee imposed by carriers when cargo remains at the port or terminal beyond the agreed-upon free storage period.
Definition
A fee imposed by carriers when cargo remains at the port or terminal beyond the agreed-upon free storage period. Demurrage charges are designed to encourage timely cargo pickup and prevent congestion at ports. These fees can accumulate daily and significantly increase shipping costs if not managed properly
Related Terms
Dangerous Goods (DG)
Materials or substances that pose a risk to health safety property or the environment.
DDP (Delivered Duty Paid)
An Incoterm in which the seller assumes full responsibility for delivering the goods to the buyer's designated location including all costs duties and taxes.
DDU (Delivered Duty Unpaid)
An Incoterm that requires the seller to deliver goods to the buyer's designated location excluding import duties and taxes.
Deadweight Tonnage (DWT)
Deadweight Tonnage refers to the total carrying capacity of a vessel including cargo fuel water crew passengers and supplies.
Declared Value
The monetary value that the shipper assigns to a shipment which is used to determine liability limits in the event of loss damage or theft.
Detention
A fee charged by carriers when a shipping container is kept outside the port or terminal beyond the allocated free time for loading unloading or storage.
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