Charterers beware! “Once on Demurrage, Always on Demurrage”
The maxim, “Once on Demurrage, always on Demurrage” is with respect to the subject matter of a Charterparty. There are different types of charterparties namely; bareboat/demise, time and voyage. This article will focus on time and voyage charter parties. In a time or voyage charter party, the charterer hires the vessel for a specific…