A charge payable by the charterer for the unused cargo space when the agreed quantity of cargo is not provided for loading. Dead freight compensates the shipowner for the revenue lost due to the shortfall in cargo.
Category: Cargo & Trade
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COAContract of Affreightment, a long-term agreement between a shipper and a shipowner to transport a specified quantity of cargo over a given period, with individual shipments made on vessels nominated by the owner.ContainerizationThe system of transporting goods in standardised intermodal containers that can be efficiently transferred between ships, trucks, and rail cars without handling the cargo itself.CustomsThe government authority responsible for controlling the import and export of goods at ports, collecting duties and taxes, and enforcing trade regulations.Deadweight TonnageThe total weight a vessel can carry, including cargo, fuel, fresh water, ballast water, provisions, passengers, and crew, measured in metric tonnes.DemurrageA charge payable by the charterer to the shipowner when a vessel is detained in port beyond the agreed laytime allowed for loading or discharging cargo.DispatchA financial reward paid by the shipowner to the charterer when a vessel completes loading or discharging in less than the agreed laytime.
Back to DictionaryEntry updated May 2026