A financial reward paid by the shipowner to the charterer when a vessel completes loading or discharging in less than the agreed laytime. Dispatch is typically calculated at half the demurrage rate and incentivises efficient cargo operations.
Category: Cargo & Trade
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CustomsThe government authority responsible for controlling the import and export of goods at ports, collecting duties and taxes, and enforcing trade regulations.Dead FreightA charge payable by the charterer for the unused cargo space when the agreed quantity of cargo is not provided for loading.Deadweight TonnageThe total weight a vessel can carry, including cargo, fuel, fresh water, ballast water, provisions, passengers, and crew, measured in metric tonnes.Dry DockingThe process of placing a vessel in a dry dock for inspection, maintenance, repair, and painting of the underwater hull.FEUForty-foot Equivalent Unit, a measure of container capacity equal to two TEU, based on the standard 40-foot intermodal container.FOBFree On Board, an Incoterm under which the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment.
Back to DictionaryEntry updated May 2026