Demurrage

A fine, a penalty paid to the owner of a container/vessel/vehicle for use in excess of the standard time specified in the contract.

In merchant shipping, monetary compensation for loss, the fee due to the carrier for the idle time of the vessel during the counterstalking time. The amount of demurrage is determined by agreement of the parties, or according to the rates accepted in the relevant port. In the absence of such rates, the amount of the fee for idle time of the vessel is determined by the costs of maintaining the vessel and its crew.

In sea container transportation, this is a payment for the excess (over free time) use of container equipment during the time from the moment the container is unloaded from the ship to the moment it is returned to the port, or at the time of its transfer to export mode. Paid to the owner of the container.