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Demurrage

Demurrage can refer to two things. On the one hand, this is the payment made by the charterers if the loading and unloading times agreed in the chartering agreement are exceeded and the shipowners cannot be held liable for that. On the other hand it also refers to the damages for detention which arise if the agreed loading or unloading times have lapsed and no demurrage days are allowed or if these have lapsed as well.

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