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Fees in logistics
"Demurrage" /dɪˈmʌrɪdʒ/ in vessel chartering is the amount of liquidated damages owed by a charterer to a shipowner when the charterer remained in possession
Demurrage
Money designed to lose purchasing power
Demurrage currency, also known as depreciating money or stamp scrip in its paper money form, is a type of money that is designed to gradually lose purchasing
Demurrage_currency
Object or record accepted as payment
World currency The etymology for demurrage currency comes from the concept of demurrage. In the shipping industry, "demurrage" refers to a charge that is assessed
Money
Government management of money
securities. Demurrage currency is a type of money that is designed to gradually depreciate in value at a flat constant rate. A demurrage monetary system
Monetary_system
Regional local currency in Bavaria, Germany
local banks. Between 2003 and 2015, the demurrage rate was 2% per quarter, or 8% per year. As of 2021, the demurrage rate is 3% every six months, or 6% per
Chiemgauer
Activity within the shipping industry
and unloading the cargo. If laytime is exceeded, the charterer must pay demurrage. If laytime is saved, the charter party may require the shipowner to pay
Chartering_(shipping)
Security on property or debt
that only takes effect from a future date. demurrage lien—a carrier's lien on goods for any unpaid demurrage charges. dragnet lien (United States)—a lien
Lien
Devaluation of money's purchasing power
consumers tend to purchase,so if demurrage currency eliminates interest rates, then prices are less likely to increase. Demurrage would also naturally cause
Inflation
Loans with unfairly high interest rate
economist, Silvio Gesell, advocated for demurrage as part of the Freiwirtschaft economic system. He referred to demurrage as Freigeld 'free money' — "free"
Usury
Type of economic system
debits. Silvio Gesell theorized that demurrage currency would lead to an interest-free economy. He believed that demurrage is necessary for monetary economies
Interest-free_economy
International Chamber of Commerce term
includes inland haulage, customs clearance, origin documentation charges, demurrage if any, origin port handling charges, in this case Vancouver). The buyer
FOB_(shipping)
Any substitute for legal tender or currency
complementary demurrage currency, a currency intended to lose purchasing power at a constant rate over time. Historically, most demurrage currencies in
Scrip
Profit from minting money
positive return, or carry, on issued notes and coins (money in circulation). Demurrage, the opposite, is the cost of holding currency. An example of an exchange
Seigniorage
Major subset of the "Discworld" novels by Terry Pratchett
he remembers her with affection and admiration. Not the same as Aliss Demurrage. Generally referred to as "Goodie Whemper maysherestinpeace". She trained
Witches_(Discworld)
Maritime contract between a shipowner and a "charterer"
agreed period of laytime. If the charterer exceeds the allowed laytime, demurrage becomes payable. In a voyage charter, the route is pre-arranged and the
Charterparty
cargo carried. If the laytime were exceeded, the charterers were to pay demurrage of $1000 per day. Serious delays occurred because the charterers had difficulty
Suisse Atlantique Societe d'Armament SA v NV Rotterdamsche Kolen Centrale
Suisse_Atlantique_Societe_d'Armament_SA_v_NV_Rotterdamsche_Kolen_Centrale
Vehicle used to transport heavy goods
Retrieved 15 July 2019. "Detention and demurrages who pays". JOC.com. 26 August 2017. Retrieved 15 July 2019. "Demurrage and detention charges in container
Roll_trailer
Local currency used as an experiment in free economy
The Wära was a demurrage currency used in Germany that was introduced in 1926 as a free economy experiment. It was introduced by Hans Timm and Helmut
Wära
chronological order and is used for the calculation of the lay time and demurrage. The Statement of Facts may aid in the resolution of conflicts by providing
Statement_of_Facts
Tax levied on property purchases or documents
England in 1694. German economist Silvio Gesell proposed in 1891 that demurrage currency could be enabled by stamp duties, which would in turn stimulate
Stamp_duty
Cargo shipping without a fixed schedule
discharging are delayed. If a tramp ship is delayed the charterer pays demurrage, which is a penalty, to the ship owner. The number of days a tramp ship
Tramp_trade
Nigerian businessman (born 1957)
Lagos harbor, while some reportedly sank. Importers were compensated with demurrage fees for the delays. During this time, Dangote acquired a fleet of trucks
Aliko_Dangote
Branch of logistics concerning the movement of vehicles
assessment of hazardous and awkward materials, carrier choice and fees, demurrage, documentation, expediting, freight consolidation, insurance, reconsignment
Traffic_management
Fleet of merchant vessels that are registered in a specific country
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Merchant_navy
Economic concept
confidence is wanting, money withdraws". As a result, Gesell proposed demurrage currency, a new form of money that is intended to prevent hoarding and
Hoarding_(economics)
Commander of a ship or other sea-going vessel
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Sea_captain
British protection and indemnity insurance group
incorporated in 1875. The London Club offers FD&D insurance (Freight, Demurrage & Defence) and war risk insurance. It is a member of the International
London_P&I_Club
Physical remains of a beached or sunk ship
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Shipwreck
Movements to amend the financial system
include American Revolution continentals and American Civil War greenbacks. Demurrage currency is designed to lose value over time, encouraging circulation
Monetary_reform
Currency from items of intrinsic value
Metallism Private currency Real de alerce – an instance of wood money Demurrage currency Prison commissary § Items used as currency Shell money O'Sullivan
Commodity_money
is exceeded, a predetermined penalty (i.e. liquidated damages) called "demurrage" is incurred. If the whole period of laytime is not needed, a refund called
Laytime
Legal claim against a ship
or loss of cargo Claim by the carrier of cargo for unpaid freight and demurrage Pollution claims Although there is a list recognized by the admiralty
Maritime_lien
Legal document issued by a carrier
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Bill_of_lading
Handles logistics for freight
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Freight_forwarder
Opposite of hoarding in economics
confidence is wanting, money withdraws". As a result, Gesell proposed demurrage currency, a new form of money that is intended to prevent hoarding and
Dishoarding
Emergency money issued during a crisis
depressed municipalities in the Alps regions of Austria experimented with demurrage currency features in their Notgeld during the period 1932–1934. As the
Notgeld
British marine insurance provider
NorthStandard. NorthStandard provides protection and indemnity (P&I), freight demurrage and defence (FD&D), war risks and ancillary insurance cover, and loss
NorthStandard
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
International Code for Ships Operating in Polar Waters
International_Code_for_Ships_Operating_in_Polar_Waters
Selling of one's personal property through a third-party vendor
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Consignment
Ship to carry people and goods on water
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Ferry
Law of the oceans and their use
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Maritime_law
1916 book by Silvio Gesell
Capitalism, Socialism, Georgism, monetary theory, money, land economics, demurrage currency Publisher TGS Publishers Publication date 1916 Publication place
The_Natural_Economic_Order
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Athens_Convention
Occupation of loading and unloading ships
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Dockworker
International treaty for maritime safety
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
SOLAS_Convention
Legal terminology
charter-parties. Other terms are relevant here: demurrage, dead freight, and cesser, which are described below. Demurrage is a fixed sum per day or per hour that
Affreightment
Economic gain by reserve currency nation
liabilities than assets, earned income is higher than interest expenses. Demurrage currency Reserve currency Seigniorage Euro Chen, Zefeng; Jiang, Zhengyang;
Exorbitant_privilege
Return or cost of holding an asset
appreciation. Carrying charge Convenience yield Covered interest arbitrage Demurrage currency Endaka Interest rate parity Spot-future parity Carry, SSRN, April
Carry_(investment)
Standardization of money
supply Debasement – Practice of lowering the intrinsic value of coins Demurrage currency – Money designed to lose purchasing power Exchange rate – Rate
Currency
Construction of ships and floating vessels
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Shipbuilding
Swiss bank that issues a complementary currency (WIR franc)
monthly stamp on the reverse side of certificates. This feature, called demurrage was aimed at preventing hoarding while avoiding constant devaluation of
WIR_Bank
the same system. Interchange is sometimes equivalent to the practice of demurrage. Dividing train Portion working Trains portal Bianculli, Anthony (2003)
Interchange_(freight_rail)
Medium of exchange complementing national currencies
Conder token Credit money Cryptocurrency Currency substitution Cyclos [es] Demurrage currency Digital currencies Digital gold currency E.C. Riegel – proposed
Complementary_currency
International maritime law organization
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Comité_Maritime_International
1973 fantasy novel by Michael Ende
this lifestyle. Michael Ende has also stated to have had the concept of demurrage currency in mind when writing Momo. Childhood is also an important subject
Momo_(novel)
Standardized contract terms regarding transportation and delivery
customs and on-carriage) are to be borne by buyer. However, any delay or demurrage charges at the terminal will generally be for the seller's account. Some
Incoterms
2024 bridge collapse near Baltimore, Maryland, US
transportation from those ports before unloaded cargoes would incur detention and demurrage charges—i.e., late fees. Four shipping lines—CMA CGM, then COSCO and Evergreen
Francis Scott Key Bridge collapse
Francis_Scott_Key_Bridge_collapse
Written acknowledgment that a person has received money or property in payment
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Receipt
Rate of money changing hands
occurring in the total supply of money available. This is not true." Demurrage currency, a type of currency which could increase the velocity of money
Velocity_of_money
Interest seen as a reward for parting with liquidity
of interest rates is correct, then demurrage currency would theoretically have no interest rates, since demurrage money cannot be used as a long-term
Liquidity_preference
Nigerian general and politician (1943–1997)
became more striking because the Nigerian government was liable to pay demurrage fees by the shippers. The Muhammed regime decided to transfer some of
Shehu_Musa_Yar'Adua
Natural disaster outside human control
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Act_of_God
School of thought in monetary economics
Warburton Philosophy portal Economics portal Chicago school of economics Demurrage currency Fiscalism (usually contrasted to monetarism) Market monetarism
Monetarism
Registering a ship in a foreign country
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Flag_of_convenience
Document issued by a seller to a buyer
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Invoice
Local currency used in Stroud
Chiemgauer, a community demurrage currency circulating in the Chiemgau region of Bavaria, Germany since 2003. The Stroud pound has a demurrage rate of 3% every
Stroud_pound
Practice of transporting cargo by rail
M250 series, multiple unit freight train running in Japan Trains portal Demurrage Wagonload freight "Rail Freight Shipping". Archived from the original
Rail_freight_transport
Currency not backed by any commodity
reserves Hard currency – Reliable and stable globally-traded currency Demurrage currency – Money designed to lose purchasing power Inflation hedge – Investment
Fiat_money
service. degaussing A process to reduce a warship's magnetic signature. demurrage A fee paid by a charter party to a shipowner if the time taken to load
Glossary of nautical terms (A–L)
Glossary_of_nautical_terms_(A–L)
unplanned event that prevents the normal delivery of train services. Demurrage A monetary charge levied by a railroad to a customer for excessive delay
Glossary of rail transport terms
Glossary_of_rail_transport_terms
Period in American history, 1929–1939
and certificates. In March 1933, Roosevelt banned all further issues of demurrage currencies and local currencies out of fear that the federal government
Great Depression in the United States
Great_Depression_in_the_United_States
Goods or produce transported
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Cargo
Suspension of contractual obligations during extreme circumstances
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Force_majeure
Maritime safety standard
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
International Code of the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk
International_Code_of_the_Construction_and_Equipment_of_Ships_Carrying_Liquefied_Gases_in_Bulk
Financial service, which forms part of the global shipping industry
as charter parties. The main terms of negotiation are freight/hire and demurrage. Oil being a fast moving trade, freight rates for crude oil tanker charters
Shipbroking
Macroeconomic theory
Nations without completely overhauling the monetary system in favor of demurrage currency. Everything bubble Friedman's k-percent rule – money supply should
Modern_Monetary_Theory
1969 international maritime treaty
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
International Convention on Civil Liability for Oil Pollution Damage
International_Convention_on_Civil_Liability_for_Oil_Pollution_Damage
Maritime safety convention
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
International Convention on Maritime Search and Rescue
International_Convention_on_Maritime_Search_and_Rescue
Physical process of transporting commodities and merchandise goods and cargo
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Freight_transport
Ship or vessel that carries goods and materials
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Cargo_ship
Concept within the common law of contract
charterers were to pay demurrage of $1,000 per day. The charterers caused huge delays and few round trips were made. Demurrage totalled only $150,000
Fundamental_breach
African Cargo Tracking Note
adhere to ECTN regulations can obstruct cargo clearance, incur daily demurrage/storage charges, manifest amendment fees, and fines up to five times the
Electronic cargo tracking note
Electronic_cargo_tracking_note
tonnes of cargo per year. The poorly drafted cement contracts contained demurrage clauses that were very favourable to the suppliers, so that the bill would
History_of_Nigeria
International maritime law
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
United Nations Convention on the Law of the Sea
United_Nations_Convention_on_the_Law_of_the_Sea
Process by which the money supply of an economic region is increased
situation. Money portal Commissary notes Commodity money Endogenous money Demurrage currency Fiscal policy Friedman's k-percent rule Functional finance Global
Money_creation
Specialized agency of the United Nations
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
International Maritime Organization
International_Maritime_Organization
Document used in foreign trade
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Commercial_invoice
Recovering a ship or cargo after a maritime casualty
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Marine_salvage
Convention to set standards for seafarers
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
STCW_Convention
Agent responsible for handling cargo
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Shipping_agency
Sectoral currency
Community Capital, David LePage, Buy Social Canada, 2020. Money portal Demurrage currency Fureai Local exchange trading system "Community currency guide
Fureai_kippu
Archaic term for a person who is the keeper or owner of a wharf
father of Mr. Winkle is a wharfinger. Transport portal Slipway Wharf Demurrage bonded warehouse Berth yacht yacht broker houseboat British History Online
Wharfinger
Party who receives the good in a contract of carriage
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Consignee
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
International Code on Intact Stability
International_Code_on_Intact_Stability
Person who travels in a vehicle without operating it
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Passenger
such disputes arise, they can create unnecessary protests, legal fees, demurrage, loss of management time, and loss of good will for all stakeholders.
Bunker_quantity_survey
Multilateral convention of the International Maritime Organization
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
Hong Kong International Convention for the safe and environmentally sound recycling of ships
Hong_Kong_International_Convention_for_the_safe_and_environmentally_sound_recycling_of_ships
2017 non-fiction book by economist Kate Raworth
financial addiction to growth. Various ideas, such as Steady-state economy, demurrage currency, and breaking out of consumerism, are explored. “The twenty-first-century
Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist
Doughnut_Economics:_Seven_Ways_to_Think_Like_a_21st-Century_Economist
One exchangeable between paricipants in a limited area
of local currencies. Local currencies with negative interest rates, or demurrage currencies, tend to circulate much more rapidly than national currencies
Local_currency
Maritime Safety Committee guideline on shipment
Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime Manifest
International Maritime Dangerous Goods Code
International_Maritime_Dangerous_Goods_Code
DEMURRAGE
DEMURRAGE
DEMURRAGE
DEMURRAGE
Boy/Male
Arabic, Australian, Muslim
Help; Victory
Girl/Female
Arabic
Tulip Flower
Boy/Male
Hindu, Indian
Honey; Nectar
Girl/Female
Celtic Irish
Defends mankind.
Girl/Female
British, Christian, English, German
Pacify
Girl/Female
Indian
Diminutive of Chandana
Boy/Male
Arabic
Fortunate; Prosperous
Boy/Male
Hindu
Boy/Male
Slavic
Universal ruler.
Girl/Female
American, British, Chinese, Christian, Czech, Czechoslovakian, English, German, Greek
Christ Bearer; Follower of Christ; Variant of Christine
DEMURRAGE
DEMURRAGE
DEMURRAGE
DEMURRAGE
DEMURRAGE
n.
The detention of a vessel by the freighter beyond the time allowed in her charter party for loading, unloading, or sailing.
n.
Demurrage.
n.
The allowance made to the master or owner of the ship for such delay or detention.