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

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 • Nov. 26, 2021

Even before the president’s order, the agency had begun investigating industry practices regarding extra charges for shipping containers that are not promptly removed from their facilities, known as detention and demurrage fees.

From Washington Post • Jul. 14, 2021

Companies usually pay demurrage fees when ships idle without unloading.

From Reuters • Oct. 16, 2020

Freicoin imposes a "demurrage fee" of 4.9% on money held by users.

From The Guardian • Jun. 25, 2013

The spring tides were upon us, and the vessel either had to come in at once, or remain out another fortnight, and be under demurrage, which meant a very serious matter for us.

From West African studies by Kingsley, Mary Henrietta