Deadfreight definition
Examples of Deadfreight in a sentence
Consequently, the Shipowner not only has a lien on the cargo for the Freight itself but additionally for other ancillary subjects such as Deadfreight and Demurrage incurred at the port of loading.
Charterers shall deduct address commission of 1.25 % from payments of Freight, Deadfreight and Demurrage.
Deadfreight shall be paid at the Base Freight Rate on the shortage (being the difference between the cargo quantity specified in Part I (E) and the quantity loaded as shown on the Bills of Lading) provided such deadfreight charge is fully documented by cable advice from Master or by deadfreight certificate.
Should this be the case, mutual agreement between Buyer and Seller is not required as contemplated above and Buyer can order Tanker to sail with Deadfreight after Laytime has been fully spent with such actual Deadfreight cost being reimbursed by Seller.
Buyer and Seller agree to act in good faith to identify and choose the more cost effective means (between demurrage and Deadfreight) to mitigate costs to Seller associated with cargo shortage.
Commission An address commission to be set forth on a separate Schedule of Terms is due on shipment of cargo on Freight, Deadfreight and Demurrage, also on Demurrage at discharge, if incurred, to Charterers and is deductible from freight.