demurrage

 
Pronunciation: /dɪˈmʌrɪdʒ/

noun

[mass noun] Law
  • a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.

Origin:

mid 17th century (also in the general sense 'delay'): from Old French demourage, from the verb demourer (see demur)