Demurrage: Delay and loss of time – Part 1
The word “demurrage” is well known amongst maritime industry players. In the Law of Demurrage, 5th Edition 2013, Tiberg, the authors define the term demurrage as being “derived from the verb “demur” in its old sense to tarry, or the French “demeurer”, which means to remain or stay”. In the context of shipping, it is
Read MoreKwabena Asare: Demurrage – Delay, loss of time (Part 2)
In Part 1, we stated that if the charterer goes beyond the laytime it is a breach of the charter party and the party in breach shall be liable to pay damages for such a breach. This liquidated damage is what is known as demurrage. It is important to know when laytime starts to run,
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