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Demurrage" / d ɪ ˈ m ʌ r ɪ dʒ / [1] in vessel chartering is the amount of liquidated damages owed by a charterer to a shipowner when the charterer remained in possession of the vessel for the purpose of loading and unloading beyond the time allowed by contract. [2]
They include payment of the claims, waiver, laches, foreclosure, and sale or destruction of the res. The lienholder could give up the right of maritime lien either by expressed or implied intention. The intention to waive the lien should be shown clearly required by the court and the credit of the lienholder will be considered.
Such an incorporation is valid and enforceable even without the issuance of a bill of lading. In the reverse case, if a carrier issues a third-party shipper with a bill of lading that incorporates charterparty terms, the shipper/cargo-owner would not be liable for fees such as demurrage, which are payable only by a charter.
In January 2014, due to the strong brand recognition throughout the intra-Americas region, [10] Maersk announced the revival of the SeaLand brand as a specialized intra-regional carrier, taking over the existing Maersk Line network for intra-Americas trade starting January 2015. [12] [13] In January 2023, Maersk announced it would retire the brand.
Container ship classes of COSCO SHIPPING Lines Ship class Built Capacity (TEU) Ships in class Notes Glory-class: 2011-2012 13,114 8 Long-term charter from Seaspan Corporation
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COSCO Shipping Shengshi, a vehicles carrier ship, Sète, 2018. China COSCO Shipping Corporation Limited (branded as COSCO Shipping) is a Chinese state-owned multinational marine transportation service conglomerate, headquartered in Shanghai. [3]