Search results
Results from the WOW.Com Content Network
Demurrage" / d ɪ ˈ m ʌ r ɪ dʒ / [1] in vessel chartering is the period when the charterer remained in possession of the vessel after the period normally allowed to load and unload cargo . [2] By extension, demurrage refers to the charges that the charterer pays to the ship owner for its delayed operations of loading/unloading. [ 3 ]
Four shipper associations want the Surface Transportation Board to allow demurrage charges to be assessed on privately owned railcars as an incentive for freight railroads to move those railcars ...
If the charterer's delay means that laytime is exceeded, a predetermined penalty (i.e. liquidated damages) called "demurrage" is incurred. [5] [6] If the whole period of laytime is not needed, a refund called "despatch" may be payable by the shipowner to the charterer.
Affreightment (from freight) is a legal term relating to shipping.. A contract of affreightment is a contract between a ship-owner and a charterer, in which the ship-owner agrees to carry goods for the charterer in the ship, or to give the charterer the use of the whole or part of the ship's cargo-carrying space for the carriage of goods on a specified voyage or voyages or for a specified time.
In some cases, a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, the freight rate.Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers).
Sweeping deportations pledged by President-elect Donald Trump could pose an economic shock for the restaurant industry in ways that echo the pandemic: pricier menus, rising wages, and shuttered ...
Elon Musk and Vivek Ramaswamy, who were tapped by Republican President-elect Donald Trump to lead a new Department of Government Efficiency, have revealed plans to wipe out scores of federal ...
One should distinguish between "arrest" and "detention"; the latter involves the detaining of a ship by a port using pre-existing powers of Port State Control or, in the case of a marina, simple contractual rights of lien.