What is demurrage?
- FOIL
Demurrage is "a sum agreed by the charterer to be paid as liquidated damages for delay beyond a stipulated or reasonable time for loading or unloading, generally referred to as the laydays or laytime" The issue arising on this appeal was whether demurrage was liquidated damages for all the consequences of the charterer's failure to load or unload within the laytime, as the High Court had held in The Bonde (1991), or only some of them, as the judge had held in this case.
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