BusinessAugust 16, 2026
demurrage
di-MUR-ij
Definition
A charge payable to the owner of a chartered ship or vehicle for failing to load or unload it within the agreed-upon time frame.
Etymology
Derived from the Old French 'demorer,' meaning to delay or tarry. It entered English in the 17th century specifically to describe the penalty for detaining a merchant vessel beyond its allocated time.
In the news
The article highlights how cargo delays in Karachi cause steep demurrage fees, creating financial pressure for traders and transport operators.
Pakistani transporters hold talks with government as strike enters ninth day
Read the full article ↗Arab News PK