demurrage

/di'mʌridʤ/

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Word: Demurrage

Part of Speech: Noun

Simple Definition: Demurrage refers to the situation where a ship, truck, or freight car is kept longer than planned and is not able to leave on time. Because of this delay, the owner of the cargo or the ship must pay a fee or charge.

Usage Instructions:

• When to Use: Use "demurrage" when discussing shipping, transportation, or logistics. It is often used in business contexts, particularly in shipping and freight industries.
• How to Use: You can say, "We incurred demurrage charges because the cargo was not loaded on time."

Example Sentence:

• "The shipping company charged us demurrage fees because our container was delayed at the port."

Advanced Usage:

In more complex discussions, you might encounter phrases like "demurrage rate," which refers to the specific amount charged per day for the delay, or "demurrage agreement," which is a contract specifying the terms under which demurrage charges will apply.

Word Variants:

• Demurrage Charges: The fees associated with the detention of cargo.
• Demurrage Fees: Similar to charges, referring specifically to the costs incurred.

Different Meanings:

While "demurrage" primarily relates to shipping, it can also be used metaphorically in legal contexts to describe delays in procedures or processes.

Synonyms:

• Delay charge
• Detention fee
• Holding fee

Related Idioms and Phrasal Verbs:

• "Time is money": This idiom relates to the idea that delays can cost money, similar to demurrage.
• "Hold up": A phrasal verb meaning to delay something, which can relate to the concept of demurrage.

Summary:

Demurrage is an important term in logistics and shipping, referring to the extra charges incurred when cargo is delayed beyond its scheduled departure time.

Academic

Noun

1. detention of a ship or freight car or other cargo beyond its scheduled time of departure
2. a charge required as compensation for the delay of a ship or freight car or other cargo beyond its scheduled time of departure